Nordea Bank AB (publ.) - Company Announcement

Nordea Bank AB (publ) issues 4 new turbo warrant series on 13 May 2011

Nordea Bank AB (publ) will issue 4 new turbo warrant series on 13 May 2011 under
its warrant programme. The underlying asset of the turbo warrants is Sampo Oyj
(SAMAS) share. 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 2010.  The base prospectus for the warrant programme and
the final terms for each turbo 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           |Turbo Warrant (call / put)                         |
+--------------------------+---------------------------------------------------+
|Underlying asset          |Sampo Oyj (SAMAS)                                  |
+--------------------------+---------------------------------------------------+
|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             |Official Closing price on Final Trading Day.       |
|Determination Date        |                                                   |
+--------------------------+---------------------------------------------------+
|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          |Nasdaq OMX Helsinki Ltd                            |
+--------------------------+---------------------------------------------------+
|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  |500 000 -  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 of the underlying company |
|underlying company        |is available on the website of the OMX Nordic      |
|                          |Exchange Helsinki:                                 |
|                          |http://omxgroup.com/nordicexchange/ and on the     |
|                          |website of the underlying company www.sampo.fi.    |
|                          | 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

+--------------+-------------+-----------+-------------+----------+------------+
|              |             |           |Underlying   |          |Additional  |
|Warrant       |Warrant ISIN |Underlying |instrument   |Underlying|Information |
|Trading code  |code         |instrument |ISIN code    |Currency  |on the      |
|              |             |           |             |          |underlying  |
+--------------+-------------+-----------+-------------+----------+------------+
|TSAM1I 195NDS |FI4000023049 |Sampo Oyj  |FI0009003305 |EUR       |www.sampo.fi|
+--------------+-------------+-----------+-------------+----------+------------+
|TSAM1I 21NDS  |FI4000023056 |Sampo Oyj  |FI0009003305 |EUR       |www.sampo.fi|
+--------------+-------------+-----------+-------------+----------+------------+
|TSAM1U 25NDS  |FI4000023064 |Sampo Oyj  |FI0009003305 |EUR       |www.sampo.fi|
+--------------+-------------+-----------+-------------+----------+------------+
|TSAM1U 265NDS |FI4000023072 |Sampo Oyj  |FI0009003305 |EUR       |www.sampo.fi|
+--------------+-------------+-----------+-------------+----------+------------+


Table 2

+--------------+-------+--------+----+----------+---------+-----+------+-------+
|Warrant       |Strike |Barrier |    |          |Total    |Issue|Expi- |Settle-|
|Trading code  |price  |level   |Type|Multiplier|number of|date |ration|ment   |
|              |       |        |    |          |warrants |     |Date  |Date   |
+--------------+-------+--------+----+----------+---------+-----+------+-------+
|TSAM1I 195NDS |19,50  |19,90   |C   |    1     |500 000  |13.5.|16.9. |23.9.  |
|              |       |        |    |          |         |2011 |2011  |2011   |
+--------------+-------+--------+----+----------+---------+-----+------+-------+
|TSAM1I 21NDS  |21,00  |21,40   |C   |   1/2    |1 000 000|13.5.|16.9. |23.9.  |
|              |       |        |    |          |         |2011 |2011  |2011   |
+--------------+-------+--------+----+----------+---------+-----+------+-------+
|TSAM1U 25NDS  |25,00  |24,60   |P   |   1/2    |1 000 000|13.5.|16.9. |23.9.  |
|              |       |        |    |          |         |2011 |2011  |2011   |
+--------------+-------+--------+----+----------+---------+-----+------+-------+
|TSAM1U 265NDS |26,50  |26,10   |P   |    1     |500 000  |13.5.|16.9. |23.9.  |
|              |       |        |    |          |         |2011 |2011  |2011   |
+--------------+-------+--------+----+----------+---------+-----+------+-------+



Helsinki, 12 May 2011

NORDEA BANK AB (publ)




Juha Mikkilä

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

[HUG#1514720]