Jyske Realkredit’s auctions for April 1st 2023 refinancing

Jyske Realkredit A/S

To Nasdaq Copenhagen A/S                                1^st of February 2023
                                        Announcement no. 10/2023

Jyske Realkredit’s auctions for April 1^st 2023 refinancing

Jyske Realkredit plans to carry out the auctions Monday 6^th of February for loans in cover pool S, and Tuesday 7^th of February through Thursday 9^th of February 2023 for loans in cover pool E.

The refinancing amount and bonds to be offered are specified in the table below:

	Open	Close	Allocation	Name	ISIN	Amount	LCR
Monday 6th February	10:30	11:20	11:25	1% JRK 1/10-2023 SDO	DK0009394983	1 mio.	1A
	10:30	11:20	11:25	1% JRK 1/10-2024 SDO	DK0009395014	2 mio.	1A
	10:30	11:20	11:25	1% JRK 1/10-2025 SDO	DK0009395287	2 mio.	1A
	10:30	11:20	11:25	1% JRK 1/10-2026 SDO	DK0009395360	2 mio.	1A
	10:30	11:20	11:25	1% JRK 1/10-2027 SDO	DK0009395444	2 mio.	1A
	10:30	11:20	11:25	1% JRK 1/10-2028 SDO	DK0009395527	2 mio.	1A
	10:30	11:20	11:25	1% JRK 1/10-2029 SDO	DK0009397143	3 mio.	1A
	10:30	11:20	11:25	1% JRK 1/10-2030 SDO	DK0009399511	3 mio.	1A
	10:30	11:20	11:25	1% JRK 1/10-2031 SDO	DK0009404964	3 mio.	1A
	10:30	11:20	11:25	1% JRK 1/10-2032 SDO	DK0009406902	48 mio.	1A
Tuesday 7th February	09:00	09:30	09:35	1% JRK 1/1-2024 SDO	DK0009408361	2000 mio.	1B
	09:30	10:00	10:05	1% JRK 1/4-2024 SDO	DK0009409765	1000 mio.	2A
	13:00	13:30	13:35	1% JRK 1/4-2028 SDO	DK0009393316	900 mio.	1B
Wednesday 8th February	09:00	09:30	09:35	1% JRK 1/1-2024 SDO	DK0009408361	2000 mio.	1B
	09:30	10:00	10:05	1% JRK 1/4-2024 SDO	DK0009409765	1000 mio.	2A
	13:00	13:30	13:35	1% JRK 1/4-2026 SDO	DK0009391377	1300 mio.	1B
Thursday 9th February	09:00	09:30	09:35	1% JRK 1/4-2025 SDO	DK0009409849	550 mio.	-
	09:30	10:00	10:05	1% JRK 1/4-2026 SDO	DK0009391377	1300 mio.	1B
	13:00	13:30	13:35	1% JRK 1/4-2028 SDO	DK0009393316	900 mio.	1B

Auction terms appear in the appendix.

Questions regarding the bond sale as well as technical matters may be addressed to Jyske Realkredit, Anders Lund Hansen, Head of Mortgage ALM, tel. (+45) 89 89 92 20 or Christian Bech-Ravn, Head of Investor Relations, tel. (+45) 89 89 92 25.

The information will also be available on Jyske Realkredit’s web site at jyskerealkredit.com.

Yours sincerely
Jyske Realkredit

Please observe that the Danish version of this announcement prevail.

Appendix - Auctions terms

Refinancing principles adjustable rate mortgage loans
Jyske Realkredit offers fixed-rate non-callable bonds for adjusting interest rates on the loans.

When adjusting the interest rates, the bonds are sold at one or more auctions. The price is determined as a weighted average of the prices obtained at the auctions.

Type of auction
The auction of bonds in both capital centres E and S will be conducted on Bloomberg's auction system.

Bids
Bids for the offered bonds must be made in terms of amount and price.

For bonds maturing within 14 months, bids must be made correct to three decimals. For other bonds, bids must be made with an accuracy of two decimals.

For all bonds bids must be made in multiples of DKK 1,000,000

Conditional offer for bonds with interest rate triggers
For the bonds offered with an interest rate trigger, it is a condition for the final completion of the sale (allotment) that there is no increase in interest rates of more than 5 percentage points. Reference is made to the Act on Mortgage Loans and Mortgage Bonds, etc.

Allotment
All bids above the cut-off price will be settled in full at the cut-off fixing spread. For bids at the exact cut-off price, proportional allocation may be used. No bids below the cut-off price will be settled.

All trades concluded will be published through Nasdaq Copenhagen.

Allotment at the auction will take place as soon as possible, and not later than 5 minutes after closing.

Value date
All bonds will be subject to long settlement. The value date of all trades executed at the auction will be 3^rd of April 2023.

Reverse facility
As the bonds traded will be subject to long settlement, Jyske Realkredit offers a reverse facility to auction participants whose bids have been accepted and who require the bonds after only two days.

By means of the reverse facility, Jyske Realkredit offers to sell the allotted bonds subject to the conventional two settlement days and subsequently repurchase them with 3^rd of April 2023 as the value date.

The size of the reverse facility will be determined on an individual basis but cannot exceed the amount allotted to each individual bidder.

The reverse facility can be made conditional on the investor providing a corresponding amount of bonds maturing on 1^stof April 2023. Reverse facilities will be arranged on an individual basis. Please contact Jyske Realkredit, Michael Dan Pedersen on phone (+45) 89 89 92 21 or Kim Brodersen on phone (+45) 89 89 92 22

Credit Ratings
All auctioned bonds issued through Capital Centre E are rated AAA by S&P. Bonds issued through Capial Centre S are not rated.

Reservations regarding auctions
If, contrary to expectations, technical problems should prevent Jyske Realkredit from conducting an auction through Bloombergs auction system, a stock ex-change announcement will be issued containing the practical details of the auction.

Other terms
Jyske Realkredit is not obliged to sell the announced offering, and the offering may furthermore be subject to changes following loan disbursements in the auction period. In addition, the entire or parts of the offering may be postponed, but not later than the second-last business day of this quarter.

On or before the second-last business day of this quarter, it must be ascertained whether the number of purchasers was sufficient for all the covered bonds offered. If a sale of bonds has to be cancelled, the market will be notified immediately by a stock exchange announcement