14 July 2026
PROHIBITION OF SALES TO EEA RETAIL INVESTORS - The Covered Bonds are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area ("EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, MiFID II); or (ii) a customer within the meaning of (EU) 2016/97 (the "Insurance Distribution Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in the Prospectus Regulation. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Covered Bonds or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Covered Bonds or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation. PROHIBITION OF SALES TO UK RETAIL INVESTORS - The Covered Bonds are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom ("UK"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("EUWA"); or (ii) a customer within the meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA. Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling the Covered Bonds or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the Covered Bonds or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation. MIFID II PRODUCT GOVERNANCE / TARGET MARKET - Solely for the purposes of the manufacturer's product approval process, the target market assessment in respect of the Covered Bonds and which channels for distribution of the Covered Bonds are appropriate. Any person subsequently offering, selling or recommending the Covered Bonds (a 'distributor') should take into consideration the target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Covered Bonds (by either adopting or refining the target market assessment) and determining appropriate distribution channels. UK MiFIR PRODUCT GOVERNANCE / TARGET MARKET - Solely for the purposes of the manufacturer's product approval process, the target market assessment in respect of the Covered Bonds and which channels for distribution of the Covered Bonds are appropriate. Any person subsequently offering, selling or recommending the Covered Bonds (a 'distributor') should take into consideration the target market assessment; however, a distributor subject to the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK MiFIR Product Governance Rules") is responsible for undertaking its own target market assessment in respect of the Covered Bonds (by either adopting or refining the target market assessment) and determining appropriate distribution channels. NATIONAL BANK OF GREECE S.A.Issue of €200,000,000 Floating Rate Series 8 Covered Bonds due 2031 Under the €10 billion
Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions set forth in the Base Prospectus dated 12 December 2025 and the supplement to the Base Prospectus dated 8 July 2026 which together constitute a base prospectus for the purposes of the Prospectus Regulation (Regulation (EU) 2017/1129) as amended from time to time (the "Prospectus Regulation"). This document constitutes the final terms of the Covered Bonds described herein for the purposes of Article 8.2 (a) of the Prospectus Regulation and must be read in conjunction with the Base Prospectus as so supplemented. Full information on the Issuer and the offer of the Covered Bonds is only available on the basis of the combination of this Final Terms and the Base Prospectus. Copies of the Base Prospectus and the supplement to the Base Prospectus are available free of charge to the public at the registered office of the Issuer and from the specified office of each of the Paying Agents. The Base Prospectus and the supplement to the Base Prospectus are published on the website of the Luxembourg Stock Exchange (https://www.luxse.com).
(i) Series Number: 8
Tranche Number: 1
Date on which the Covered Bonds will be consolidated and form a single Series
Not Applicable
Specified Currency or Currencies: Euro (€)
Aggregate Nominal Amount of Covered Bonds:
Series: 200,000,000
Tranche: 200,000,000
Issue Price: 100 per cent. of the Aggregate Nominal Amount
(i) Specified Denominations: €100,000 and integral multiples of €1,000 in
excess thereof up to and including €199,000. No Covered Bonds in definitive form will be issued with a denomination above €199,000
Calculation Amount: €1,000
(i) Issue Date: 16 July 2026
Interest Commencement Date: Issue Date
7. | (i) | Final Maturity Date: | Interest Payment Date falling on 16 July 2031 |
(ii) | Extended Final Maturity Date | Interest Payment Date falling on 16 July 2032 |
Interest Basis: Floating Rate
6 month EURIBOR + 0.37 per cent. per annum, or, starting from the Final Maturity Date, or if earlier, the date on which an Issuer Event occurs, and until the Extended Final Maturity Date, 1 month EURIBOR + 0.37 per cent. per annum
Redemption/Payment Basis: Redemption at par
Change of Interest Basis or Redemption/ Payment Basis:
Not applicable (please refer to paragraph 16 below)
Put/Call Options: Not Applicable
Date Board approval for issuance of Covered Bonds obtained:
26 June 2026
Method of distribution: Non-syndicated
Prohibition of Sales to EEA and UK Retail Investors
Applicable
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE- Fixed Rate Covered Bond Provisions Not Applicable
-
Floating Rate Covered Bond Provisions Applicable
Interest Period(s): Each period from (and including) a Specified Interest Payment Date to (but excluding) the following Specified Interest Payment Date.
The first Interest Period will commence on the Issue Date (included) and end on the First Interest Payment Date (excluded).
Specified Interest Payment Dates: (i) 16 January and 16 July in each year
commencing on (and including) 16 January 2027 up to (and including) the Final Maturity Date and (ii) from the Final Maturity Date, or, if earlier, the date on which an Issuer Event occurs, until the Extended Final Maturity Date, the 20th day of each month
First Interest Payment Date: 16 January 2027
Business Day Convention: Modified Following Business Day
Convention
Business Day(s) London, Athens, T2
Additional Business Centre(s): Not Applicable
Manner in which the Rate(s) of Interest is/are to be determined:
Screen Rate Determination
Party responsible for calculating the Rate of Interest and Interest Amount (if not the Principal Paying Agent):
Not Applicable
Screen Rate Determination:
Reference Rate: 6 month EURIBOR, or, starting from the Final Maturity Date, or, if earlier, the date on which an Issuer Event occurs, and until the Extended Final Maturity Date, 1 month EURIBOR
Interest Determination Date(s): The second day on which the T2 System is
open prior to the start of each Interest Period
Relevant Screen Page: Reuters EURIBOR01
Relevant Time: 11.00 a.m. Brussels time
Relevant Financial Centre: Euro-zone (where Euro-zone means the
region comprised of the countries whose lawful currency is the euro
ISDA Determination: Not Applicable
Margin(s): + 0.37 per cent. per annum
Minimum Rate of Interest: Zero per cent.
Maximum Rate of Interest: Not Applicable
Day Count Fraction: Actual/360 adjusted
Fall back provisions, rounding provisions, denominator and any other terms relating to the method of calculating interest on Floating Rate Covered Bonds, if different from those set out in the Conditions:
Not Applicable
- Zero Coupon Covered Bond Provisions Not Applicable PROVISIONS RELATING TO REDEMPTION
-
Issuer Call Not Applicable
Optional Redemption Date(s): Not Applicable
Optional Redemption Amount(s) of each Covered Bond and method, if any, of calculation of such amount(s):
Not Applicable
(If redeemable in part:
Minimum Redemption Amount: Not Applicable
Maximum Redemption Amount: Not Applicable
Notice period (if other than as set out in the Terms and Conditions)
Not Applicable
(i) Investor Put Not Applicable
Optional Redemption Date(s): Not Applicable
Optional Redemption Amount(s) of each Covered Bond and method, if any, of calculation of such amount(s):
Not Applicable
Notice period: Not Applicable
-
Final Redemption Amount of each Covered Bond
Euro 1,000 per Calculation Amount
- Early Redemption Amount
Early Redemption Amount(s) per Calculation Amount payable on redemption for taxation reasons or on event of default or other early redemption and/or the method of calculating the same (if required or if different from that set out in the Conditions):
Not Applicable