Desio CB IT0005634214 - Final Terms Series 5 Tap (Desio CB IT0005634214 Final Terms Series 5 Tap)

(i)

Rate(s) of Interest:

3.000% per annum payable in arrear on each

Interest Payment Date.

(ii)

Interest Payment Date(s):

10 September of each year, from (and

including) 10 September 2025 up to (and

including) the Maturity Date adjusted in

accordance with the Following Business Day

Convention

(iii)

Fixed Coupon Amount:

Euro 30 per Calculation Amount

(iv)

Broken Amount(s):

Not Applicable

(v)

Day Count Fraction:

Actual/Actual (ICMA) unadjusted

15.

Floating Rate Provisions

Applicable (as referred to in Condition 7(b))

(i)

Interest Period(s):

Each period from (and including) the

Maturity Date up to (and excluding) the

Extended Maturity Date or, if earlier, the

date on which the Covered Bonds are

redeemed in full.

(ii)

Specified Period:

Not Applicable

(iii)

Interest Payment Dates:

Interest will be payable monthly in arrears

on the 10th day of each month, from (and

including) 10 October 2029 up to (and

including) the Extended Maturity Date

adjusted in accordance with the Following

Business Day Convention.

(iv)

First Interest Payment Date:

10 October 2029

(v)

Business Day Convention:

Following Business Day Convention

(vi)

Manner in which the Rate(s) of

Screen Rate Determination

Interest is/are to be determined:

(vii)

Party

responsible

for calculating

Not Applicable

the Rate(s) of Interest and/or

Interest Amount(s) (if not the

Paying Agent):

(viii)

Screen Rate Determination:

•

Reference Rate:

Reference Rate: 1 month EURIBOR

•

Reference Banks

Not Applicable

•

Interest

Determination

The 2nd TARGET2 Settlement Day prior to

Date(s):

the commencement of each Interest Period

•

Relevant Screen Page:

REUTERS EURIBOR 01

•

Relevant Time:

11.00 a.m. Brussels time

•

Relevant Financial Centre:

Euro-zone

(ix)

ISDA Determination:

Not Applicable

(x)

Margin(s):

0.62% per annum

4

(i)

Listing

Official List of Euronext Dublin

(ii)

Admission to trading

Application has been made by the Issuer

(or on its behalf) for the Covered Bonds to

be admitted to trading on the regulated

market of the Euronext Dublin with effect

from the Issue Date.

(iii)

Estimate of total expenses related

Euro 1,750

to admission to trading:

Ratings:

The Covered Bonds to

be

issued are

expected to be rated on the Issue Date

Fitch Ratings Ireland Limited (Sede

Secondaria Italiana): AA

According to the definitions published by

Fitch Ratings Ireland Limited (Sede

Secondaria Italiana) on its website as of

the date of these Final Terms, obligations

rated "AA" are judged to be very high

credit quality and denote expectations of

very low credit risk. The capacity for

payment of financial commitments is

considered very strong and is not

significantly vulnerable

to

foreseeable

events.

(i) Reasons for the offer - Use of proceeds

General funding purposes of the Desio

Group

(ii) Estimated net amount of the proceeds

Euro 101,020,219.18

4.

EUROPEAN COVERED BOND (PREMIUM)

LABEL

European Covered Bond (Premium) Label in

Applicable

accordance with Article 129 of the CRR

Indication of yield:

3.023% per annum calculated at the Issue

Date on the basis of the Issue Price. It is

not an indication of future yield.

ISIN Code:

Temporary number IT0005634214. Tranche 2

will be consolidated and become fungible with

Tranche 1 not less than 40 calendar days after

the Issue Date, such date being on or after 16

March

2025. Upon

such

consolidation,

Tranche 2 will have the same ISIN Code as

Tranche 1 (being IT0005610941).

Common Code:

Temporary

number 299735915. Tranche 2

will

be

consolidated

and

become

fungible

with Tranche 1 not less than 40

calendar days after the Issue Date, such date

being on or after 16 March

2025.

Upon

such

consolidation, Tranche 2 will have the

same Common Code as Tranche 1 (being

CFI

290031184).

DTFSFB, as published

on

the website of

the Association of National Numbering

Agencies ("ANNA") or alternatively sourced

from

the

7

21.

(i)

Method of distribution:

Non-syndicated

(ii)

If

syndicated,

names

of Not Applicable

Manager(s):

(iii)

Stabilising Manager(s) (if any):

Not Applicable

22.

If non-syndicated, name of Arranger:

Commerzbank Aktiengesellschaft

23.

U.S. Selling Restrictions:

Compliant with Regulation S under the U.S.

Securities Act of 1933