Universe of Index Components

Real estate project related bonds financing real estate and/or secured with real estate related collateral in Europe.
Cash in EUR held with credit institutions in the European Union or the European Economic Area.

Index Components and their selection

Selection Criteria:

• Issuer domiciled in Europe
• Central custody by Clearstream Banking Frankfurt or Luxembourg
• Paying agent of the bond a European financial institution
• Purchase possible via the paying agent as counterparty
• Maturity of the bond between 2 and 60 months, callable structures allowed
• Remaining term of the bond at least 2 months
• Currency EUR
• Regional allocation: At least 50% of the bonds must originate from the countries Germany, Austria, Switzerland. Head office of the issuer applies.

Eligibility criteria:

The project company must meet the following criteria:

• Eligible project sponsors must be headquartered in Europe.
• The beneficial owner is not included in the PEP list

The real estate project must meet the following criteria:

• Capital must be used either for the creation, redevelopment or preservation of real estate or to raise cash against real estate collateral (direct and indirect).

Cash describes an appropriate index component in each case.

Allocation of Index Components

Total volume of all project bonds of an issuer maximum 22.5% of the total volume in the index, calculated on total nominal

Using the methods and criteria described above, the allocation of weightings is at the discretion of the index allocator. Index components with a weighting of zero will not be included in the Index.

Further information on the valuation agent can be found at the following link: https://www.avs-valuation.com