Nordea Bank AB (publ.) - Company Announcement

Nordea Bank AB (publ) issues 7 new turbo warrant series on 16 Nov 2011

Nordea Bank AB (publ) will issue7new turbo warrant series on 16Nov 2011 under
its warrant programme. The underlying assets of the turbo warrants are Outokumpu
Oyj (OUT1V), Rautaruukki Oyj (RTRKS) andTalvivaaran Kaivososakeyhtiö Oyj (TLV1V)
sharesand Dax and Dow Jones Euro Stoxx 50indices. The warrants are call and put
turbo warrants.The turbo warrants are redeemed by cash payment.Upon expiry of a
turbo warrant, the possible net value is paid in cash to the holder of the
warrant.

Warrant specific terms and conditions

All turbo warrants are issued under the warrant programme of Nordea Bank AB
(publ) dated 6 October 2011.  The base prospectus for the warrant programme and
the final terms for each turbo warrant series are available at the website of
Nordea Bank Finland Plc: www.nordea.fi/warrantit. The following terms only
summarize the final terms and the base prospectus.

+--------------------------+---------------------------------------------------+
|Issuer                    |Nordea Bank AB (publ)                              |
+--------------------------+---------------------------------------------------+
|Instrument name           |Turbo Warrant (call / put)                         |
+--------------------------+---------------------------------------------------+
|Underlying asset          |Outokumpu Oyj (OUT1V), Rautaruukki Oyj (RTRKS)     |
|                          |andTalvivaaran                                     |
|                          |Kaivososakeyhtiö Oyj (TLV1V) sharesand Dax and Dow |
|                          |Jones Euro Stoxx                                   |
|                          |50indices                                          |
+--------------------------+---------------------------------------------------+
|Barrier Reference Price   |Most recent transaction prices during continuous   |
|                          |trading quoted on a                                |
|                          |Reference Source commencing from the Listing Date  |
|                          |up to and including                                |
|                          |the Closing Date. The Bank reserves the right to   |
|                          |determine whether a level                          |
|                          |is reasonable and may thereby constitute a Barrier |
|                          |Reference Price.                                   |
+--------------------------+---------------------------------------------------+
|Cash Settlement amount    |For Turbo Call Warrants:                           |
|                          |(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.                     |
|                          |                                                   |
|                          |For Turbo Put Warrants:                            |
|                          |(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|
|                          |(see more                                          |
|                          |information in the Final Terms of the Turbo        |
|                          |Warrants).                                         |
+--------------------------+---------------------------------------------------+
|Closing Price             |In case of Share:                                  |
|Determination Date        |Official Closing price on Final Trading Day.       |
|                          |                                                   |
|                          |In case of Index:                                  |
|                          |Final Settlement Price provided by EUREX           |
+--------------------------+---------------------------------------------------+
|Expiration date /         |The earlier of Expiration Date in Final Terms,     |
|Final trading day         |Table 2 or for:                                    |
|                          |                                                   |
|                          |Turbo Call Warrants: The trading day with respect  |
|                          |to which a Barrier                                 |
|                          |Reference Price is listed equal to or lower than   |
|                          |the Barrier Level.                                 |
|                          |                                                   |
|                          |Turbo Put Warrants: The trading day with respect to|
|                          |which a Barrier                                    |
|                          |Reference Price is listed equal to or higher than  |
|                          |the Barrier Level.                                 |
+--------------------------+---------------------------------------------------+
|Market place              |Nasdaq OMX Helsinki Ltd                            |
+--------------------------+---------------------------------------------------+
|Reference Source          |In case of Share:                                  |
|                          |Nasdaq OMX Helsinki Ltd                            |
|                          |                                                   |
|                          |In case of Index:                                  |
|                          |EUREX                                              |
+--------------------------+---------------------------------------------------+
|Reference price           |Closing Price on Closing Price Determination Date  |
|determination method      |                                                   |
+--------------------------+---------------------------------------------------+
|Exercise procedure        |The Bank carries out automatic cash settlement     |
+--------------------------+---------------------------------------------------+
|Listing currency          |EUR                                                |
+--------------------------+---------------------------------------------------+
|Trading lot               |1 warrant                                          |
+--------------------------+---------------------------------------------------+
|Total number of warrants  |100 000 - 1 000 000                                |
+--------------------------+---------------------------------------------------+
|Market maker              |Nordea Bank Finland Plc operates as the Market     |
|                          |Maker.                                             |
|                          |                                                   |
|                          |Nordea Bank Finland Plc undertakes to provide bid  |
|                          |and ask quotation for                              |
|                          |the warrants during the time the 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 |
|                          |the most:                                          |
|                          |                                                   |
|                          |10 cent, if the ask quotation is less than EUR 2.00|
|                          |20 cent, if the ask quotation is more than or equal|
|                          |to EUR 2.00                                        |
|                          |                                                   |
|                          |Quotations concern a minimum of one thousand       |
|                          |warrants.No bid quotation                          |
|                          |is given for warrants the market value of which is |
|                          |less than one (1) cent.                            |
|                          |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 securities 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                                            |
|                          |exchange/marketplace in those cases where the      |
|                          |limitation is expected to                          |
|                          |extend for more than one trading day.              |
|                          |                                                   |
+--------------------------+---------------------------------------------------+
|Additional information on |Additional information on the company and the      |
|the underlying asset and  |development of the value                           |
|underlying company        |of the underlying company is available on the      |
|                          |website of the OMX Nordic                          |
|                          |Exchange Helsinki:                                 |
|                          |http://omxgroup.com/nordicexchange/ and on the     |
|                          |website of the underlying                          |
|                          |companieswww.outokumpu.com,                        |
|                          |www.rautaruukki.fi,www.talvivaara.com,             |
|                          |www.stoxx.com and www.deutsche-boerse.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

+-------------+------------+-----------------+------------+--------+-----------+
|             |            |                 |Under-      |        |           |
|Warrant      |Warrant     |Under-           |lying       |Under-  |Additional |
|Trading      |ISIN        |lying            |instru-     |lying   |Information|
|code         |code        |instru-          |ment        |Currency|on the     |
|             |            |ment             |ISIN        |        |underlying |
|             |            |                 |code        |        |           |
+-------------+------------+-----------------+------------+--------+-----------+
|             |            |                 |            |        |www.       |
|TDAX2A5750NDS|FI4000032248|DAX              |DE0008469008|EUR     |deutsche-  |
|             |            |                 |            |        |boerse.com |
+-------------+------------+-----------------+------------+--------+-----------+
|             |            |                 |            |        |www.       |
|TDAX2M6200NDS|FI4000032255|DAX              |DE0008469008|EUR     |deutsche-  |
|             |            |                 |            |        |boerse.com |
+-------------+------------+-----------------+------------+--------+-----------+
|TESX2A2200NDS|FI4000032263|Dow Jones Euro   |EU0009658145|EUR     |www.stoxx. |
|             |            |Stoxx 50         |            |        |com        |
+-------------+------------+-----------------+------------+--------+-----------+
|TESX2M2500NDS|FI4000032271|Dow Jones Euro   |EU0009658145|EUR     |www.stoxx. |
|             |            |Stoxx 50         |            |        |com        |
+-------------+------------+-----------------+------------+--------+-----------+
|TOUT2B  45NDS|FI4000032289|Outokumpu Oyj    |FI0009002422|EUR     |www.outo-  |
|             |            |                 |            |        |kumpu.com  |
+-------------+------------+-----------------+------------+--------+-----------+
|TRTR2B  62NDS|FI4000032297|Rautaruukki Oyj  |FI0009003552|EUR     |www.rauta- |
|             |            |                 |            |        |ruukki.fi  |
+-------------+------------+-----------------+------------+--------+-----------+
|             |            |Talvivaaran      |            |        |www.talvi- |
|TTLV2B   2NDS|FI4000032305|Kaivososakeyhtiö |FI0009014716|EUR     |vaara.com  |
|             |            |Oyj              |            |        |           |
+-------------+------------+-----------------+------------+--------+-----------+


Table 2

+-------------+------+-------+----+------+---------+------+----------+-------+
|Warrant      |      |       |    |      |Total    |      |          |Settle-|
|Trading      |Strike|Barrier|Type|Multi-|number   |Issue |Expiration|ment   |
|code         |price |level  |    |plier |of       |date  |Date      |Date   |
|             |      |       |    |      |warrants |      |          |       |
+-------------+------+-------+----+------+---------+------+----------+-------+
|TDAX2A5750NDS|5750  |5775   |C   |1/300 |1 000 000|16.11.|20.1.     |27.1.  |
|             |      |       |    |      |         |2011  |2012      |2012   |
+-------------+------+-------+----+------+---------+------+----------+-------+
|TDAX2M6200NDS|6200  |6175   |P   |1/300 |1 000 000|16.11.|20.1.     |27.1.  |
|             |      |       |    |      |         |2011  |2012      |2012   |
+-------------+------+-------+----+------+---------+------+----------+-------+
|TESX2A2200NDS|2200  |2200   |C   |1/150 |1 000 000|16.11.|20.1.     |27.1.  |
|             |      |       |    |      |         |2011  |2012      |2012   |
+-------------+------+-------+----+------+---------+------+----------+-------+
|TESX2M2500NDS|2500  |2500   |P   |1/150 |1 000 000|16.11.|20.1.     |27.1.  |
|             |      |       |    |      |         |2011  |2012      |2012   |
+-------------+------+-------+----+------+---------+------+----------+-------+
|TOUT2B  45NDS|4,50  |4,75   |C   |  1   |500 000  |16.11.|17.2.     |24.2.  |
|             |      |       |    |      |         |2011  |2012      |2012   |
+-------------+------+-------+----+------+---------+------+----------+-------+
|TRTR2B  62NDS|6,20  |6,60   |C   |  1   |500 000  |16.11.|17.2.     |24.2.  |
|             |      |       |    |      |         |2011  |2012      |2012   |
+-------------+------+-------+----+------+---------+------+----------+-------+
|TTLV2B   2NDS|2,00  |2,20   |C   |  1   |100 000  |16.11.|17.2.     |24.2.  |
|             |      |       |    |      |         |2011  |2012      |2012   |
+-------------+------+-------+----+------+---------+------+----------+-------+



Helsinki, 15 Nov 2011

NORDEA BANK AB (publ)

Juha Mikkilä

For further information, please contact Juha Mikkilä tel. +358-9-369 50112.


[HUG#1563877]