Nordea Bank AB (publ.) - Company Announcement

Nordea Bank AB (publ) issues 8 new turbo warrant series on 26 Oct 2011

Nordea Bank AB (publ) will issue 8 new turbo warrant series on 26 Oct 2011 under
its warrant programme. The underlying assets of the turbo warrants are Nokia Oyj
(NOK1V) shares and Dax and Dow Jones Euro Stoxx 50 indices. 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            |Nokia Oyj (NOK1V) shares and Dax and Dow Jones   |
|                            |Euro Stoxx 50 indices                            |
+----------------------------+-------------------------------------------------+
|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 Determination |In case of Share:                                |
|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    |750 000 - 1 500 000                              |
+----------------------------+-------------------------------------------------+
|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       |
|underlying company          |company is available on the website of the OMX   |
|                            |Nordic Exchange Helsinki:                        |
|                            |http://omxgroup.com/nordicexchange/ and on the   |
|                            |website of the underlying companies              |
|                            |www.nokia.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

+-------------+------------+-------------+------------+----------+-------------+
|Warrant      |            |             |Underlying  |          |Additional   |
|Trading      |Warrant     |Underlying   |instrument  |Underlying|Information  |
|code         |ISIN code   |instrument   |ISIN code   |Currency  |on the       |
|             |            |             |            |          |underlying   |
+-------------+------------+-------------+------------+----------+-------------+
|TESX1L2250NDS|FI4000030705|Dow Jones    |EU0009658145|EUR       |www.stoxx.com|
|             |            |Euro Stoxx 50|            |          |             |
+-------------+------------+-------------+------------+----------+-------------+
|TDAX1L5850NDS|FI4000030713|DAX          |DE0008469008|EUR       |www.deutsche-|
|             |            |             |            |          |boerse.com   |
+-------------+------------+-------------+------------+----------+-------------+
|TDAX1X6500NDS|FI4000030721|DAX          |DE0008469008|EUR       |www.deutsche-|
|             |            |             |            |          |boerse.com   |
+-------------+------------+-------------+------------+----------+-------------+
|TDAX1X6750NDS|FI4000030739|DAX          |DE0008469008|EUR       |www.deutsche-|
|             |            |             |            |          |boerse.com   |
+-------------+------------+-------------+------------+----------+-------------+
|TNOK2B  37NDS|FI4000030747|Nokia Oyj    |FI0009000681|EUR       |www.nokia.com|
+-------------+------------+-------------+------------+----------+-------------+
|TNOK2B   4NDS|FI4000030754|Nokia Oyj    |FI0009000681|EUR       |www.nokia.com|
+-------------+------------+-------------+------------+----------+-------------+
|TNOK2N  59NDS|FI4000030762|Nokia Oyj    |FI0009000681|EUR       |www.nokia.com|
+-------------+------------+-------------+------------+----------+-------------+
|TNOK2N  65NDS|FI4000030770|Nokia Oyj    |FI0009000681|EUR       |www.nokia.com|
+-------------+------------+-------------+------------+----------+-------------+


Table 2

+-------------+------+-------+----+------+-----------+------+----------+-------+
|Warrant      |Strike|Barrier|    |Multi-|Total      |Issue |Expiration|Settle-|
|Trading      |price |level  |Type|plier |number of  |date  |Date      |ment   |
|code         |      |       |    |      |warrants   |      |          |Date   |
+-------------+------+-------+----+------+-----------+------+----------+-------+
|TESX1L2250NDS|2250  |2250   |C   |1/150 |750 000    |26.10.|16.12.    |23.12. |
|             |      |       |    |      |           |2011  |2011      |2011   |
+-------------+------+-------+----+------+-----------+------+----------+-------+
|TDAX1L5850NDS|5850  |5875   |C   |1/300 |1 000 000  |26.10.|16.12.    |23.12. |
|             |      |       |    |      |           |2011  |2011      |2011   |
+-------------+------+-------+----+------+-----------+------+----------+-------+
|TDAX1X6500NDS|6500  |6475   |P   |1/300 |1 000 000  |26.10.|16.12.    |23.12. |
|             |      |       |    |      |           |2011  |2011      |2011   |
+-------------+------+-------+----+------+-----------+------+----------+-------+
|TDAX1X6750NDS|6750  |6725   |P   |1/300 |1 000 000  |26.10.|16.12.    |23.12. |
|             |      |       |    |      |           |2011  |2011      |2011   |
+-------------+------+-------+----+------+-----------+------+----------+-------+
|TNOK2B  37NDS|3,70  |4,00   |C   |  1   |1 500 000  |26.10.|17.2.     |24.2.  |
|             |      |       |    |      |           |2011  |2012      |2012   |
+-------------+------+-------+----+------+-----------+------+----------+-------+
|TNOK2B   4NDS|4,00  |4,30   |C   |  1   |1 500 000  |26.10.|17.2.     |24.2.  |
|             |      |       |    |      |           |2011  |2012      |2012   |
+-------------+------+-------+----+------+-----------+------+----------+-------+
|TNOK2N  59NDS|5,90  |5,60   |P   |  1   |1 500 000  |26.10.|17.2.     |24.2.  |
|             |      |       |    |      |           |2011  |2012      |2012   |
+-------------+------+-------+----+------+-----------+------+----------+-------+
|TNOK2N  65NDS|6,50  |6,20   |P   |  1   |1 500 000  |26.10.|17.2.     |24.2.  |
|             |      |       |    |      |           |2011  |2012      |2012   |
+-------------+------+-------+----+------+-----------+------+----------+-------+


Helsinki, 25 Oct 2011

NORDEA BANK AB (publ)

Juha Mikkilä

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


[HUG#1557574]