Press release

Frankfurt am Main 29 January 2020 Page 1 of 1

Five-year Federal notes - Auction result -

The result of the auction of 29 January 2020 for the

0 % five-year Federal notes series 181 of 2020 (2025)

due on 11 April 2025 ISIN DE0001141810

was as follows:

Bids

4,417.00 mn

Competitive bids

1,126.00

mn

Non-competitive bids

3,157.00

mn

Allotment

3,215,30 mn

- Lowest accepted price

103.13

%

- Weighted average price

103.14

%

- Average yield

-0.59

%

- Allotment

- for bids at the lowest accepted price

100

%

- for non-competitive bids

90

%

Cover ratio

1.4

Retention quote

784.70 mn

(Own account of the Federal Government) 1)

Issue volume series 181

4,000.00 mn

1) Placing by the German Finance Agency in the secondary market

Deutsche Bundesbank, Communications Department

Wilhelm-Epstein-Strasse 14, 60431 Frankfurt am Main, Germany, Tel: +49 (0)69 9566 3511 or 3512, Fax: +49 (0)69 9566 3077 presse@bundesbank.de, www.bundesbank.de

Reproduction permitted only if source is stated.

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Deutsche Bundesbank published this content on 29 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 January 2020 13:39:05 UTC