Allianz : places subordinated bond

Investor Relations Release

Munich, January 5, 2017	[e-mail]	[phone]
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Allianz places subordinated bond

Allianz SE has placed a subordinated bond with a volume of 1.0 billion Euro with institutional inves- tors in Europe.

The subordinated bond has a scheduled maturity in July 2047 and carries ordinary call rights as of July 2027. The coupon is fixed at 3.099% percent per annum until July 2027. Thereafter, bondhold- ers will receive a floating rate coupon. Coupon payments and redemption are subject to certain conditions and may be deferred.

The bond will be listed on the Luxembourg Stock Exchange. Settlement is expected to occur on January 13, 2017.

These assessments, are as always, subject to the disclaimer provided below:

No offer

This announcement and the information it contains are not being issued and may not be distributed in the United States of America. This announcement does not constitute an offer of securities for sale in the United States of America or to, or for the account or benefit of, any U.S. person or in any other jurisdiction. The securities referred to in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 (as amended), and may not be offered or sold in the United States of America or any other jurisdiction absent registration or an applicable exemption from registration.

Forward-looking statements

The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward- looking statements.

Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situa- tion, particularly in the Allianz Group's core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, including from natural ca- tastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels,

(vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors maybe more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

No duty to update

The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required be disclosed by law.