Account change in cross-border settlement of NGNs with counterparties in CASCADE

Effective from settlement date

Monday 12 May 2014

Clearstream Banking AG (CBF)¹ will migrate its international securities New Global Notes (NGNs) with Clearstream Banking S.A. (CBL)² as depository from CASCADE account 7535 to 4496 and will introduce delivery against payment (DvP) settlement in EUR via its link from CBF to CBL.

Impact on CBL customers

As a result of the migration in CASCADE, the NGNs will be transferred from the CBF Creation account 11236 to account 18757.

Therefore, from 12 May 2014, transfers between CBL and CBF counterparties must be issued against CBF account number 18757 at CBL.

CBL customers expecting to deliver securities to counterparties in CASCADE must send a matching delivery instruction (5F/51) against CBF’s account 18757 at CBL indicating the four-digit CASCADE account number of the beneficiary.

CBL customers expecting to receive securities from counterparties in CASCADE must send a matching receipt instruction (4F/41) against CBF’s account 18757 at CBL including the four-digit CASCADE account number of the counterparty delivering the securities.

Acceptance deadline

On migration date 9 May 2014, the instruction deadline for valid free of payment transfers for same-day settlement will be 15:30 (CET).

On/after 12 May 2014, valid receipt and delivery instructions for transfers free of payment should be received by 17:00 (CET) to ensure that a same-day credit can be made in CASCADE. The same-day deadline to receive/deliver securities against payment from/to CBF counterparties is 14:00 (CET).

Note: Instructions received after the given deadline may settle in Creation and CASCADE on a “best efforts” basis.

Cutover 9 May - 12 May 2014

Until 9 May 2014, customers are requested to instruct against CBF’s account 11236 with settlement date on/before 9 May 2014.

Instructions with intended settlement date on/after Monday 12 May 2014 should be sent to CBL no earlier than 12 May 2014.

Any instruction pending against account 11236 at the end of the business day 9 May 2014 will be cancelled and will have to be re-instructed by the customer on/after Monday 12 May 2014 with new instruction details against account 18757.

Impact on CBL instructions

Further to our Announcement A14032, dated 28 February 2014, customers are reminded to identify the CBF counterparty via Data Source Scheme DAKV in the second-level matching fields as follows:

CreationOnline

Delivery to CASCADE (second-level matching field):

Buyer CLEARSTREAM BANKING FRANKFURT - DE
Party CBF 4-digit customer account in CASCADE

Receipt from CASCADE (second-level matching field):

Seller CLEARSTREAM BANKING FRANKFURT - DE
Party CBF 4-digit customer account in CASCADE

Creation via SWIFT and CreationDirect

Delivery to CASCADE (second-level matching field):

:95R::BUYR/DAKV/CBF 4-digit customer account in CASCADE

Receipt from CASCADE (second-level matching field):

:95R::SELL/DAKV/CBF 4-digit customer account in CASCADE

Note: In all cases, if the CASCADE account is not provided, the instruction will be rejected.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

------------------------------------------
1. Registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.
2. Registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248.