Swedbank A — Capital/Financing Update 2012

Jun 29, 2012

29 June 2012

SWEDBANK AB (publ)

Issue of SEK 1,000,000,000Floating Rate Notes due 4 July 2016

under the U.S.\$40,000,000,000 Global Medium Term Note Programme

PART A - CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Prospectus dated 15 May 2012 (the "Prospectus") which constitutes a base prospectus for the purposes of Directive 2003/71/EC (the "Prospectus Directive"). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Prospectus. Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Prospectus. The Prospectus is available for viewing at Brunkebergstorg 8, SE-105 34 Stockholm or on www.swedbank.se and copies may be obtained from the address above.

1.	Issuer:		Swedbank AB (publ)
2.	(i)	Series Number:	GMTN 198
	(ii)	Tranche Number:	$\mathbf{1}$
3.		Specified Currency or Currencies:	Swedish Kroner ("SEK")
4.		Aggregate Nominal Amount:
	$\left( \cdot \right)$	Series:	SEK 1,000,000,000
	(ii)	Tranche:	SEK 1,000,000,000
5.	Issue Price:		99.962 per cent of the Aggregate Nominal Amount
6.	(i)	Specified Denomination(s):	SEK 1,000,000
	(ii)	Calculation Amount:	SEK 1,000,000
7.	(i)	Issue Date:	4 July 2012
	(ii)	Interest Commencement Date:	Issue Date
8.	Maturity Date:		Interest Payment Date falling in or nearest to July 2016
9.	Interest Basis:		3-month STIBOR + 1.55 per cent Floating Rate (further particulars specified below)
10.	Redemption/Payment Basis:		Redemption at par

11.		Payment Basis:		Change of Interest Basis or Redemption/ Not Applicable
12.		Put/Call Options:			Not Applicable
13.	(i)		Status of the Notes:		Unsubordinated - Condition 3(a) will apply
4		Method of distribution:			Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15.		(Condition 4(a))	Fixed Rate Note Provisions:		Not Applicable
16.			Floating Rate Note Provisions:		Applicable
	(i)	Specified	Interest Payment Dates:	Period(s)/Specified	The period from and including the Interest Commencement Date to but excluding the first Specified Interest Payment Date and, thereafter, each period from and including a Specified Interest Payment Date to but excluding the next Specified Interest payment Date.
					Interest shall be payable quarterly in arrears on 4 January, 4 April, 4 July and 4 October in each year, from and including 4 October 2012 to and including the Maturity Date (each a "Specified Interest Payment Date"), subject in each case to adjustment in accordance with the applicable Business Day Convention specified below.
	(ii)		Business Day Convention:		Modified Following Business Day Convention
	(iii)		Business Centre(s):		Stockholm
	(iv)			Interest is/are to be determined:	Manner in which the Rate(s) of Screen Rate Determination
	(v)		Paying Agent):	Party responsible for calculating the Rate(s) of Interest and Interest Amount(s) (if not the Principal	Not Applicable
	(v i )		Screen Rate Determination:		Applicable
			Reference Rate:		3-month STIBOR
			Interest $Date(s)$ :	Determination	Two (2) Stockholm business days prior to the start of each Interest Period
				Relevant Screen Page:	Reuters screen "SIDE" page
	(vii)		ISDA Determination:		Not Applicable

	(viii)	$Margin(s)$ :	$+1.55$ per cent per annum
	(ix)	Minimum Rate of Interest:	Not Applicable
	(x)	Maximum Rate of Interest:	Not Applicable
	$(x_i)$	Day Count Fraction:	Actual/360, adjusted
	(xii)	rounding Fall back provisions, provisions, denominator and any other terms relating to the method of calculating interest on Floating Rate Notes, if different from those set out in the Conditions:	As set out in the Conditions
17.		Zero Coupon Note Provisions:	Not Applicable
18.		Index-Linked Interest Note/other variable- linked interest Note Provisions:	Not Applicable
19.		Dual Currency Interest Note Provisions:	Not Applicable
		PROVISIONS RELATING TO REDEMPTION
20.	Issuer Call:		Not Applicable
21.	Investor Put:		Not Applicable
22.		Final Redemption Amount:	SEK 1,000,000 per Calculation Amount
23.		Early Redemption Amount:
		Early Redemption Amount(s) payable on As set out in Condition $5(e)$ redemption for taxation reasons or on Event of Default or other early redemption and/or the method of calculating the same (if required or if different from that set out in Condition 5(e)):
		GENERAL PROVISIONS APPLICABLE TO THE NOTES
24.		Form of Notes:
	(i)	Form:	Bearer Notes:
			Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Bearer Notes only upon an Exchange Event
	(ii)	New Global Note:	No

Financial Centre(s) or other special Stockholm
provisions relating to Payment Days: 25.

• 1. Talons for future Coupons or Receipts to No be attached to Definitive Notes (and dates on which such Talons mature):
• $27.$ Details relating to Partly Paid Notes: Not Applicable amount of each payment comprising the Issue Price and date on which each payment is to be made and consequences (if any) of failure to pay, including any right of the Issuer to forfeit the Notes and interest due on late payment:
• 1. Details relating to Instalment Notes:

	(i)	$Instant(s)$ :		Not Applicable
	(ii)	Instalment $Date(s)$ :		Not Applicable
29.		Redenomination, renominalisation and reconventioning provisions:		Not Applicable
30.		Consolidation provisions:		Not Applicable
31.		Additional U.S. Federal Income Tax Considerations:		Not Applicable
32.		Other final terms:		Not Applicable

DISTRIBUTION

33.	$\left( i\right)$	syndicated, Ħ. names Managers:	of Not Applicable
	(ii)	Date of Subscription Agreement:	Not Applicable
	(iii)	Stabilising Manager(s) (if any):	Not Applicable
34.		If non-syndicated, name of Dealer:	Nordea Bank Danmark A/S
35.		Whether TEFRA D rules are applicable or TEFRA rules are not applicable:	TEFRA D
			37. LII

Additional selling restrictions: Not Applicable 36.

PURPOSE OF FINAL TERMS

These Final Terms comprise the final terms required for issue and admission to trading on the EEA Regulated Market of the London Stock Exchange and listing on the Official List of the UK Listing Authority of the Notes described herein] pursuant to the U.S.\$40,000,000,000 Global Medium Term Note Programme of Swedbank AB (publ).

RESPONSIBILITY

The Issuer accepts responsibility for the information contained in these Final Terms. Signed on behalf of the

Issuer: Samuel Son Marie Certsson By Duly authorised

PART B-OTHER INFORMATION

LISTING AND ADMISSION TO TRADING $1¹$

(i)	Listing:	London
(ii)	Admission to trading:	Application has been made for the Notes to be admitted to trading on the London Stock Exchange with effect from 4 July 2012
(iii)	Estimate of total expenses related to GBP 2,700 admission to trading:
RATINGS
Ratings:		The Notes to be issued have been rated:

Moody's: A"

$S\&P: A+$

Fitch: A

The above rating agencies are established in the European Union and are registered under Regulation (EC) No. 1060/2009 (as amended).

INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER $\overline{3}$ .

Save for any fees payable to the Dealer, so far as the Issuer is aware, no person involved in the offer of the Notes has an interest material to the offer.

REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES $\overline{4}$ .

Not Applicable

$2.$

Fixed Rate Notes only - YIELD 5.

Not Applicable

OF other variable-linked Notes only PERFORMANCE 6. Index-Linked $\frac{1}{2}$ and $\frac{1}{2}$ $\mathbf{or}$ INDEX/FORMULA/ OTHER VARIABLE AND OTHER INFORMATION CONCERNING THE UNDERLYING

Not Applicable

Dual Currency Notes only - PERFORMANCE OF RATE[S] OF EXCHANGE $\tilde{Z}$

Not Applicable

8. OPERATIONAL INFORMATION

XS0801097840 ISIN Code: $(i)$

(ii)	Common Code:	080109784
(iii)	Cusip:	Not Applicable
(iv)	CINS.	Not Applicable
(v)	Swiss Security Number:	Not Applicable
$(v_i)$	Any clearing system(s) other than Euroclear Bank SA/NV, Clearstream Banking société anonyme and SIX SIS Ltd (together with the address of each such clearing system) and the relevant identification number(s):	Not Applicable
(vii)	Settlement procedures:	Customary medium term note procedures apply
(viii)	Delivery:	Delivery against payment
(ix)	Names and addresses of additional Paying Agent(s) (including, in the case of Swiss Domestic Notes, the	Not Applicable
	Principal Swiss Paying Agent and any other Swiss Paying Agents) (if any):