Intesa Sanpaolo Vita raises € 750 Million on International Markets with the launch of a subordinated perpetual bond issue

Milan, 10 December 2014 – Intesa Sanpaolo Vita has launched a € 750 million subordinated perpetual bond issue targeted at international markets.

It is a fixed to floating rate “standalone” issue.

The coupon, payable annually in arrears on every 17 December of each year from and including 17 December 2015 up to the 17 December 2024 (the First Call Date), is equal to 4.75% per annum. Thereafter, the coupon is at 6 months Euribor plus 100 basis points payable semi-annually in arrear on 17 June and 17 December of each year.

The re-offer price is 100%.

The yield to the First Call Date is 4,75% per annum, equivalent to the 10-year mid-swap rate plus 381,7 basis points.

Settlement is due on 17 December 2014.

Minimum denomination of the bond issue is 100 thousand Euro and 100 thousand Euro thereafter.

The bond is not offered to the Italian retail market; it is distributed to international institutional investors and financial institutions. It will be listed on the Luxembourg Stock Exchange.

Banca IMI, BofA Merrill Lynch, Citi, HSBC, Morgan Stanley and UBS Investment Bank act as joint lead managers for the placement of the bond.

The expected rating assigned to the bond by Fitch is BBB-.

This communication does not constitute an offer or an invitation to subscribe for or purchase any securities. The securities have not been and will not be registered under the United States Securities Act of 1933 (as amended) (the "Securities Act"). The securities may not be offered, sold or delivered within the United States or to “U.S. persons” (as defined in Regulation S under the Securities Act) as part of their initial offering. The securities may be initially offered and sold only outside the United States in reliance on Regulation S under the Securities Act and subsequent resales may be made only in accordance with applicable law. Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia or Japan.

This communication is being distributed to and is directed only at (i) persons who are outside the United Kingdom or (ii) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) (a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

For information:

Gruppo Intesa Sanpaolo

Ufficio Media Banca dei Territori e Media Locali

06 67124992

stampa@intesasanpaolo.com