Nordea Bank AB (publ.) - Company Announcement

Nordea Bank AB (publ) issues 16 new warrant series on 27 April 2011

Nordea Bank AB (publ) will launch 16 new warrant series on 27 April 2011 under
its warrant programme. The underlying assets of the warrants are Nokia Oyj
(NOK1V), Fortum Oyj (FUM1V), Metso Oyj (MEO1V), Outokumpu Oyj (OUT1V) shares and
OMXH25 and Dow Jones Euro Stoxx 50 indices. The warrants are redeemed by cash
payment. Upon expiry of a warrant, the possible net value is paid in cash to the
holder of the warrant.

Warrant specific terms and conditions

All Warrants are issued under the warrant programme of Nordea Bank AB (publ)
dated 6 October 2010. The base prospectus for the warrant programme and the
final terms for each warrant serie are available at the issuer's website:
www.nordea.fi/warrantit. The following terms only summarize the final terms and
the base prospectus.


+---------------------------------+--------------------------------------------+
|Issuer                           |Nordea Bank AB (publ)                       |
+---------------------------------+--------------------------------------------+
|Instrument name                  |Warrant (call/put)                          |
+---------------------------------+--------------------------------------------+
|Underlying asset                 |Nokia Oyj (NOK1V), Fortum Oyj (FUM1V), Metso|
|                                 |Oyj (MEO1V), Outokumpu Oyj (OUT1V) shares   |
|                                 |and OMXH25 and Dow Jones Euro Stoxx 50      |
|                                 |indices                                     |
+---------------------------------+--------------------------------------------+
|Cash Settlement Amount           |Call Warrant:                               |
|                                 |(Closing Price - Strike Price) x Multiplier |
|                                 |If the Closing Price is equal or lower than |
|                                 |the Strike Price, no Cash Settlement Amount |
|                                 |is paid out.                                |
|                                 |                                            |
|                                 |Put Warrant:                                |
|                                 |(Strike Price - Closing Price) x Multiplier |
|                                 |If the Closing Price is equal to or higher  |
|                                 |than the Strike Price, no Cash Settlement   |
|                                 |Amount is paid out.                         |
+---------------------------------+--------------------------------------------+
|Closing Price                    |Reference Price on Closing Price            |
|                                 |Determination Date.                         |
+---------------------------------+--------------------------------------------+
|Closing Price Determination Date |In case of a Share:                         |
|                                 |                                            |
|                                 |Official Closing Price on Final Trading Day |
|                                 |                                            |
|                                 |In case of an Index:                        |
|                                 |                                            |
|                                 |OMXH25:                                     |
|                                 |Value of the index, based on Nasdaq OMX     |
|                                 |Helsinki Ltd weighted average prices of the |
|                                 |OMXH25 component shares from 09:40 until    |
|                                 |18:30 EET on Expiration Date/Final Trading  |
|                                 |Day.                                        |
|                                 |                                            |
|                                 |Dow Jones Euro Stoxx 50:                    |
|                                 |Final Settlement Price provided by EUREX    |
+---------------------------------+--------------------------------------------+
|Market place                     |Nasdaq OMX Helsinki Ltd                     |
+---------------------------------+--------------------------------------------+
|Reference Source                 |In case of Share:                           |
|                                 |                                            |
|                                 |Nasdaq OMX Helsinki Ltd                     |
|                                 |                                            |
|                                 |In case of Index:                           |
|                                 |                                            |
|                                 |OMXH25:                                     |
|                                 |Nasdaq OMX Helsinki Ltd                     |
|                                 |                                            |
|                                 |Dow Jones Euro Stoxx 50:                    |
|                                 |EUREX                                       |
+---------------------------------+--------------------------------------------+
|Reference price determination    |Closing Price on Closing Price Determination|
|method                           |Date                                        |
+---------------------------------+--------------------------------------------+
|Exercise procedure               |The Bank carries out automatic cash         |
|                                 |settlement                                  |
+---------------------------------+--------------------------------------------+
|Listing currency                 |EUR                                         |
+---------------------------------+--------------------------------------------+
|Total number of warrants         |3 000 000 - 15 000 000                      |
+---------------------------------+--------------------------------------------+
|Trading lot                      |1 warrant                                   |
+---------------------------------+--------------------------------------------+
|Market maker                     |Nordea Bank Finland Plc operates as the     |
|                                 |Market Maker.                               |
|                                 |                                            |
|                                 |Market Maker undertakes to provide bid and  |
|                                 |ask quotation for the Warrants during the   |
|                                 |time Warrants are subject to trading on a   |
|                                 |regulated market, multilateral trading      |
|                                 |facility or other marketplace. The          |
|                                 |undertaking is valid in the continuous      |
|                                 |trading of the regulated market,            |
|                                 |multilateral trading facility or other      |
|                                 |marketplace.                                |
|                                 |                                            |
|                                 |The difference between bid and ask quotation|
|                                 |is at most (maximum spread):                |
|                                 |                                            |
|                                 |0,10 EUR, if ask price is < 2 EUR           |
|                                 |0,20 EUR, if ask price is > 2 EUR           |
|                                 |                                            |
|                                 |Quotations concern a minimum amount of one  |
|                                 |thousand warrants. No bid quotation is given|
|                                 |for Warrants that have a market value of    |
|                                 |less than one (1) cent or corresponding     |
|                                 |value in other currency. Market Maker is    |
|                                 |entitled to define the values of the        |
|                                 |parameters affecting the market making      |
|                                 |quotation. Market Maker is not liable to    |
|                                 |maintain its duties as Market Maker, if     |
|                                 |trading with the underlying asset has       |
|                                 |ceased.                                     |
|                                 |                                            |
|                                 |Market Maker reserves the right to          |
|                                 |temporarily decline to quoting bid and ask  |
|                                 |prices during a period in which the Market  |
|                                 |Maker hedges its own position in an         |
|                                 |Underlying Assets and at such time as the   |
|                                 |Market Maker believes there are to be       |
|                                 |significant difficulties in quoting bid and |
|                                 |ask prices due to technical reasons.        |
|                                 |                                            |
|                                 |In conjunction with such limitation of the  |
|                                 |Market Maker's obligation to quote bid and  |
|                                 |ask prices, the Market Maker shall notify   |
|                                 |parties on the market regarding the         |
|                                 |limitation through a notice via the         |
|                                 |regulated market/multilateral trading       |
|                                 |facility/marketplace.                       |
|                                 |                                            |
+---------------------------------+--------------------------------------------+
|Additional information on the    |Additional information on the company and   |
|underlying asset and underlying  |the development of the value of the         |
|company                          |underlying asset is available on the website|
|                                 |of the OMX Nordic Exchange Helsinki:        |
|                                 |http://omxgroup.com/nordicexchange/ and on  |
|                                 |the websites of the companies:              |
|                                 |www.fortum.com, www.metso.com,              |
|                                 |www.nokia.com, www.outokumpu.com,           |
|                                 |www.omxnordicexchange.com and www.stoxx.com.|
|                                 |Additional information on the volatility of |
|                                 |the underlying asset is available from the  |
|                                 |issuer, tel. +358 9 369 49134.              |
|                                 |                                            |
|                                 |The investors should analyse information on |
|                                 |the company issuing the share before making |
|                                 |decisions on warrants.                      |
+---------------------------------+--------------------------------------------+


The warrants to be issued:

Table 1
+-------------+------------+-----------+------------+--------+-----------------+
|Warrant      |            |           |Underlying  |Under-  |Additional       |
|Trading      |Warrant     |Underlying |instrument  |lying   |Information      |
|code         |ISIN code   |instrument |ISIN code   |Currency|on the           |
|             |            |           |            |        |underlying       |
+-------------+------------+-----------+------------+--------+-----------------+
|NOK1F  62NDS |FI4000022579|Nokia Oyj  |FI0009000681|EUR     |www.nokia.com    |
+-------------+------------+-----------+------------+--------+-----------------+
|NOK1G   6NDS |FI4000022587|Nokia Oyj  |FI0009000681|EUR     |www.nokia.com    |
+-------------+------------+-----------+------------+--------+-----------------+
|NOK1G  64NDS |FI4000022595|Nokia Oyj  |FI0009000681|EUR     |www.nokia.com    |
+-------------+------------+-----------+------------+--------+-----------------+
|NOK1T  58NDS |FI4000022603|Nokia Oyj  |FI0009000681|EUR     |www.nokia.com    |
+-------------+------------+-----------+------------+--------+-----------------+
|NOK1I  66NDS |FI4000022611|Nokia Oyj  |FI0009000681|EUR     |www.nokia.com    |
+-------------+------------+-----------+------------+--------+-----------------+
|NOK1J  68NDS |FI4000022629|Nokia Oyj  |FI0009000681|EUR     |www.nokia.com    |
+-------------+------------+-----------+------------+--------+-----------------+
|H251S2500NDS |FI4000022637|OMXH25     |FI0008900212|EUR     |www.omxnordic    |
|             |            |           |            |        |exchange.com     |
+-------------+------------+-----------+------------+--------+-----------------+
|H251G2700NDS |FI4000022645|OMXH25     |FI0008900212|EUR     |www.omxnordic    |
|             |            |           |            |        |exchange.com     |
+-------------+------------+-----------+------------+--------+-----------------+
|             |            |Dow Jones  |            |        |                 |
|ESX1S2700NDS |FI4000022652|Euro Stoxx |EU0009658145|EUR     |www.stoxx.com    |
|             |            |50         |            |        |                 |
+-------------+------------+-----------+------------+--------+-----------------+
|             |            |Dow Jones  |            |        |                 |
|ESX1G3100NDS |FI4000022660|Euro Stoxx |EU0009658145|EUR     |www.stoxx.com    |
|             |            |50         |            |        |                 |
+-------------+------------+-----------+------------+--------+-----------------+
|FUM1S 215NDS |FI4000022678|Fortum Oyj |FI0009007132|EUR     |www.fortum.com   |
+-------------+------------+-----------+------------+--------+-----------------+
|FUM1G  25NDS |FI4000022686|Fortum Oyj |FI0009007132|EUR     |www.fortum.com   |
+-------------+------------+-----------+------------+--------+-----------------+
|MEO1S 375NDS |FI4000022694|Metso Oyj  |FI0009007835|EUR     |www.metso.com    |
+-------------+------------+-----------+------------+--------+-----------------+
|MEO1G  42NDS |FI4000022702|Metso Oyj  |FI0009007835|EUR     |www.metso.com    |
+-------------+------------+-----------+------------+--------+-----------------+
|OUT1S 105NDS |FI4000022710|Outokumpu  |FI0009002422|EUR     |www.outokumpu.com|
|             |            |Oyj        |            |        |                 |
+-------------+------------+-----------+------------+--------+-----------------+
|OUT1G  12NDS |FI4000022728|Outokumpu  |FI0009002422|EUR     |www.outokumpu.com|
|             |            |Oyj        |            |        |                 |
+-------------+------------+-----------+------------+--------+-----------------+

Table 2
+------------+--------+----+--------+----------+---------+----------+----------+
|Warrant     |        |    |        |Total     |         |Expira-   |Settle-   |
|Trading     |Strike  |Type|Multi-  |number    |Issue    |tion      |ment      |
|code        |price   |    |plier   |of        |date     |Date      |Date      |
|            |        |    |        |warrants  |         |          |          |
+------------+--------+----+--------+----------+---------+----------+----------+
|NOK1F  62NDS|6,20    |C   |   1/5  |15 000 000|27.4.2011|17.6.2011 |27.6.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|NOK1G   6NDS|6,00    |C   |   1/5  |15 000 000|27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|NOK1G  64NDS|6,40    |C   |   1/5  |15 000 000|27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|NOK1T  58NDS|5,80    |P   |   1/5  |15 000 000|27.4.2011|19.8.2011 |26.8.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|NOK1I  66NDS|6,60    |C   |   1/5  |15 000 000|27.4.2011|16.9.2011 |23.9.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|NOK1J  68NDS|6,80    |C   |   1/5  |15 000 000|27.4.2011|21.10.2011|28.10.2011|
+------------+--------+----+--------+----------+---------+----------+----------+
|H251S2500NDS|2 500,00|P   |   1/100|3 000 000 |27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|H251G2700NDS|2 700,00|C   |   1/100|3 000 000 |27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|ESX1S2700NDS|2 700,00|P   |   1/100|3 000 000 |27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|ESX1G3100NDS|3 100,00|C   |   1/100|3 000 000 |27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|FUM1S 215NDS|21,50   |P   |   1/5  |3 000 000 |27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|FUM1G  25NDS|25,00   |C   |   1/5  |3 000 000 |27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|MEO1S 375NDS|37,50   |P   |   1/5  |3 000 000 |27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|MEO1G  42NDS|42,00   |C   |   1/5  |3 000 000 |27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|OUT1S 105NDS|10,50   |P   |   1/5  |3 000 000 |27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+
|OUT1G  12NDS|12,00   |C   |   1/5  |3 000 000 |27.4.2011|15.7.2011 |22.7.2011 |
+------------+--------+----+--------+----------+---------+----------+----------+


Helsinki, 26 April 2011

NORDEA BANK AB (publ)


Juha Mikkilä


For further information, please contact Juha Mikkilä tel. +358-9-369 49354.

[HUG#1508880]