| Company announcement | Group Communications Holmens Kanal 2 – 12 DK-1092 København K Tel. +45 45 14 56 95 21 January 2015 |
Danske Bank issues new bull and bear certificates for shares
Danske Bank has decided to issue new bull and bear certificates with series No. B&B DK/2015 1/1 and series No. B&B DK/201514/1 under Danske Bank’s Warrants and Certificate Programme dated 2 July 2014.
The following bull certificates are issued:
| SeriesNo. | Certificate long name | Certificate short name | ISIN of bull certificate | Underlying share | ISIN of underlying share |
| 1/1 | Danske Bank Bull Vestas Wind Systems X2 | BULL VWS X2 DB | DK0060604718 | Vestas Wind Systems A/S | DK0010268606 |
| 2/1 | Danske Bank Bull Carlsberg X2 | BULL CARL X2 DB | DK0060603587 | Carlsberg A/S-B | DK0010181759 |
| 3/1 | Danske Bank Bull DSV X2 | BULL DSV X2 DB | DK0060603744 | DSV A/S | DK0060079531 |
| 4/1 | Danske Bank Bull FLSmidth X2 | BULL FLS X2 DB | DK0060603900 | FLSmidth & Co A/S | DK0010234467 |
| 5/1 | Danske Bank Bull NOVO Nordisk X2 | BULL NOVO X2 DB | DK0060604122 | Novo Nordisk A/S-B | DK0060534915 |
| 6/1 | Danske Bank Bull Novozymes X2 | BULL NZYM X2 DB | DK0060604395 | Novozymes A/S-B | DK0060336014 |
| 7/1 | Danske Bank Bull Pandora X2 | BULL PAND X2 DB | DK0060604551 | Pandora A/S | DK0060252690 |
The following bear certificates are issued:
| SeriesNo. | Certificate long name | Certificate short name | ISIN of bear certificate | Underlying share | ISIN of underlying share |
| 8/1 | Danske Bank Bear Vestas Wind Systems X2 | BEAR VWS X2 DB | DK0060604981 | Vestas Wind Systems A/S | DK0010268606 |
| 9/1 | Danske Bank Bear Carlsberg X2 | BEAR CARL X2 DB | DK0060603660 | Carlsberg A/S-B | DK0010181759 |
| 10/1 | Danske Bank Bear DSV X2 | BEAR DSV X2 DB | DK0060603827 | DSV A/S | DK0060079531 |
| 11/1 | Danske Bank Bear FLSmidth X2 | BEAR FLS X2 DB | DK0060604049 | FLSmidth & Co A/S | DK0010234467 |
| 12/1 | Danske Bank Bear NOVO Nordisk X2 | BEAR NOVO X2 DB | DK0060604205 | Novo Nordisk A/S-B | DK0060534915 |
| 13/1 | Danske Bank Bear Novozymes X2 | BEAR NZYM X2 DB | DK0060604478 | Novozymes A/S-B | DK0060336014 |
| 14/1 | Danske Bank Bear Pandora X2 | BEAR PAND X2 DB | DK0060604635 | Pandora A/S | DK0060252690 |
The bull and bear certificates have a gearing factor of 2 and investors are therefore doubly exposed to fluctuations in the price of the underlying share.
The issue date for the certificates is 22 January 2015. The certificates are registered with VP Securities and an application for listing on NASDAQ OMX Copenhagen A/S from 22 January 2015 will be made.
The certificates will not be redeemed unless an early redemption event occurs.
For further information, please see the Final Terms, which are enclosed with this announcement.
Danske Bank A/S
Contacts:
Global Head of Structured Products Holger Lunden, tel. +45 45 14 32 65
