Nordea Bank AB (publ.) - Company Announcement

Nordea Bank AB (publ) issues 2 new index certificates bear series on 9 March 2010

Nordea Bank AB (publ) will launch 2 new index certificate bear series on 9 March
2010 under its warrant programme. The underlying asset of the index certificates
is a future contract linked to NASDAQ 100 Index and S&P500 Index. The index
certificates are put certificates. The index certificates are redeemed by cash
payment. Upon expiry of a index certificate bear, the possible net value is paid
in cash to the holder of the certificate.



Index certificate bear specific terms and conditions



All index certificates are issued under the warrant programme of Nordea Bank AB
(publ) dated 6 October 2009. The base prospectus for the warrant programme and
the final terms for each warrant and certificate serie are available at the
issuer's website: www.nordea.fi/warrantit <http://www.nordea.fi/warrantit>. The
following terms only summarize the final terms and the base prospectus.



Please notice that the Final Terms of the issue are released only in English.





+---------------------------------+--------------------------------------------+
|Issuer                           |Nordea Bank AB (publ)                       |
+---------------------------------+--------------------------------------------+
|Instrument name                  |Index Certificate Bear (put)                |
+---------------------------------+--------------------------------------------+
|Underlying asset                 |A futures contract linked to NASDAQ 100     |
|                                 |Index and S&P500 Index.                     |
+---------------------------------+--------------------------------------------+
|Cash Settlement Amount           |Accumulated value on the expiration date    |
+---------------------------------+--------------------------------------------+
|Closing Price                    |Accumulated value on the expiration date    |
+---------------------------------+--------------------------------------------+
|Closing Price Determination Date |The earliest of the following dates:        |
|                                 |                                            |
|                                 |1.       Expiration Date: See Table 2;      |
|                                 |                                            |
|                                 |2.       The date declared expiration date  |
|                                 |according to Expiration Date Determination  |
|                                 |Day; or                                     |
|                                 |                                            |
|                                 |3.       If the value of the underlying     |
|                                 |contract rises 100% or more in one day it   |
|                                 |constitutes an Early Expiration Event.      |
+---------------------------------+--------------------------------------------+
|Market place                     |Nasdaq OMX Helsinki                         |
+---------------------------------+--------------------------------------------+
|Barrier Level                    |200% of the underlying contracts reference  |
|                                 |price the previous trading day.             |
+---------------------------------+--------------------------------------------+
|Reference Source                 |NASDAQ 100 Index and S&P500 Index:          |
|                                 |                                            |
|                                 |CME                                         |
+---------------------------------+--------------------------------------------+
|Reference price determination    |Valuation time for underlying instrument and|
|method                           |currency is local time Helsinki 19:00.      |
+---------------------------------+--------------------------------------------+
|Exercise procedure               |The Bank carries out automatic cash         |
|                                 |settlement                                  |
+---------------------------------+--------------------------------------------+
|Translation Rate                 |EUR / USD exchange rate                     |
+---------------------------------+--------------------------------------------+
|Listing currency                 |EUR                                         |
+---------------------------------+--------------------------------------------+
|Total number of certificates     |1 000 000 (see Table 2 below)               |
+---------------------------------+--------------------------------------------+
|Trading lot                      |1 certificate                               |
+---------------------------------+--------------------------------------------+
|Market Maker                     |Nordea Bank operates as the Market Maker.   |
|                                 |                                            |
|                                 |                                            |
|                                 |                                            |
|                                 |Market  Maker undertakes to  provide bid and|
|                                 |ask  quotation  for  the Certificates during|
|                                 |the time Certificates are subject to trading|
|                                 |on  a regulated market, multilateral trading|
|                                 |facility   or   other   market   place.  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):                |
|                                 |                                            |
|                                 |                                            |
|                                 |                                            |
|                                 |Four (4) percent or                         |
|                                 |                                            |
|                                 |0,10 EUR, if ask price is < 2 EUR           |
|                                 |                                            |
|                                 |                                            |
|                                 |                                            |
|                                 |Quotations  concern a minimum amount of five|
|                                 |hundred  Certificates.  No  bid quotation is|
|                                 |given  for Certificates  that have  a market|
|                                 |value less than ten (10) cents. 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      |
|                                 |www.nasdaq.com and www.standardandpoors.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 index before making |
|                                 |decisions on certificates.                  |
+---------------------------------+--------------------------------------------+


The index certificates bull to be issued:



Table 1



+-------------+--------------+------------+--------------+--------+------------+
|Certificate  |Certificate   |Underlying  |Underlying    |Under-  |Additional  |
|             |ISIN          |            |ISIN          |        |            |
|Trading code |              |index       |              |lying   |Information |
|             |code          |            |code          |        |on the      |
|             |              |            |              |instru- |            |
|             |              |            |              |        |underlying  |
|             |              |            |              |ment    |            |
|             |              |            |              |cur-    |            |
|             |              |            |              |        |            |
|             |              |            |              |rency   |            |
+-------------+--------------+------------+--------------+--------+------------+
|             |              |NASDAQ 100  |US6311011026  |        |www.nasdaq.c|
|BEAR NSDQ NF |FI4000009683  |INDEX       |              |USD     |om          |
|             |              |            |              |        |<http://www.|
|             |              |            |              |        |nasdaq.com/>|
+-------------+--------------+------------+--------------+--------+------------+
|             |              |            |              |        |www.standard|
|             |              |S&P500 INDEX|US78378X1072  |        |andpoors.com|
|BEAR SP500 NF|FI4000009691  |            |              |USD     |<http://www.|
|             |              |            |              |        |standardandp|
|             |              |            |              |        |oors.com/>  |
+-------------+--------------+------------+--------------+--------+------------+




Table 2



+-------------+-------+----+-------------------+---------+----------+----------+
|Certificate  |Initial|Type|Manage Total       |Issue    |Expiration|Settlement|
|Trading      |       |    |                   |date     |          |          |
|             | Price |    |-ment  number of   |         |Date      |Date      |
|code         |       |    |                   |         |          |          |
|             |       |    | Fee   certificates|         |          |          |
+-------------+-------+----+-------------------+---------+----------+----------+
|BEAR NSDQ NF |25     |P   |0,15%  1 000 000   |9.3.2010 |10.2.2015 |17.2.2015 |
+-------------+-------+----+-------------------+---------+----------+----------+
|BEAR SP500 NF|25     |P   |0,15%  1 000 000   |9.3.2010 |10.2.2015 |17.2.2015 |
+-------------+-------+----+-------------------+---------+----------+----------+




Helsinki, 8 March 2010



NORDEA BANK AB (publ)

Tommi Saarnio





For further information, please contact Tommi Saarnio, +358 9 369 49354.



[HUG#1391697]