TIDM92PW

RNS Number : 6657M

Toronto-Dominion Bank London Branch

12 May 2020

PRE-STABILISATION ANNOUNCEMENT

12 May 2020

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

European Bank for Reconstruction and Development

Pre-Stabilisation Period Announcement

The Toronto-Dominion Bank, (contact: Paul Eustace, 020 7628 2262) hereby gives notice, as Stabilisation Coordinator, that the Stabilisation Manager(s) named below may stabilise the offer of the following securities in accordance with Commission Delegated Regulation EU/2016/1052 under the Market Abuse Regulation (EU/596/2014).

The securities:

 
 Issuer:                                  European Bank for Reconstruction 
                                           and Development 
 Guarantor (if any): 
                                         ------------------------------------------ 
 Aggregate nominal amount:                US$ benchmark 
                                         ------------------------------------------ 
 Description:                             US$ Global Notes due 5 May 2025 
                                         ------------------------------------------ 
 Offer price:                             TBC 
                                         ------------------------------------------ 
 Stabilisation: 
                                         ------------------------------------------ 
 Stabilisation Manager(s):                TD Securities (Stabilisation Coordinator) 
                                           Barclays 
                                           Nomura 
                                           J.P. Morgan 
                                         ------------------------------------------ 
 Stabilisation period expected            19 May 2020 
  to start on: 
                                         ------------------------------------------ 
 Stabilisation period expected            18 June 2020 (30 days after the 
  to end no later than:                    proposed issue date of the securities) 
                                         ------------------------------------------ 
 Existence, maximum size and conditions   The Stabilisation Manager(s) may 
  of use of over-allotment facility:       over-allot the securities to the 
                                           extent permitted in accordance with 
                                           applicable law. 
                                         ------------------------------------------ 
 Stabilisation trading venue              Over the counter (OTC) 
                                         ------------------------------------------

In connection with the offer of the above securities, the Stabilisation Manager(s) may over-allot the securities or effect transactions with a view to supporting the market price of the securities during the stabilisation period at a level higher than that which might otherwise prevail. However, stabilisation may not necessarily occur and any stabilisation action, if begun, may cease at any time. Any stabilisation action or over-allotment shall be conducted in accordance with all applicable laws and rules.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement and the offer of the securities to which it relates are only addressed to and directed at persons outside the United Kingdom and persons in the United Kingdom who have professional experience in matters related to investments or who are high net worth persons within Article 12(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and must not be acted on or relied on by other persons in the United Kingdom.

In addition, if and to the extent that this announcement is communicated in, or the offer of the securities to which it relates is made in, any EEA Member State that has implemented Regulation (EU) 2017/1129 (the "Prospectus Regulation") before the publication of a prospectus in relation to the securities which has been approved by the competent authority in that Member State in accordance with the Prospectus Regulation (or which has been approved by a competent authority in another Member State and notified to the competent authority in that Member State in accordance with the Prospectus Regulation), this announcement and the offer are only addressed to and directed at persons in that Member State who are qualified investors within the meaning of the Prospectus Regulation (or who are other persons to whom the offer may lawfully be addressed) and must not be acted on or relied on by other persons in that Member State.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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