CREDIT EVENT NOTICE

On 2 August 2017 ISDA’s (International Swaps and Derivatives Association, Inc.) Determination Committee resolved that a Governmental Intervention Credit Event has occurred in relation to the Reference Entity Banca Monte dei Paschi di Siena S.p.A.

Nordea Bank AB (publ) has determined, based on the above, that a Credit Event under the Terms and Conditions of the Notes has occurred in relation to Banca Monte dei Paschi di Siena S.p.A, which is a Reference Entity in the Notes.

The date of the Credit Event is 2 August 2017.

As the Credit Event related to Banca Monte dei Paschi di Siena S.p.A may reduce the redemption amount and the amount on which the interest amount is calculated (if any), holdings, trading lots and pool factors at Clearing System(s) and/or listing venue(s) are updated where applicable, see Annex 1.

Capitalized terms used in this notice have the same meaning as in the Final Terms and the Base Prospectus for the Notes.

For further information regarding the determination of the redemption amount and the amount on which the interest is calculated (if any), reference is made to the Final Terms for the respective Notes.

7 November 2017

 Nordea Bank AB (publ)

Annex 1