Post-stabilisation notice

16th January 2018

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

KFW

0.625 % € 5,000,000,000 Global SEC registered Notes due 2028

Post-Stabilisation Notice

Commerzbank (contact: Daniela Olt-Farrelly; telephone: +49 69 13623492 hereby gives notice that no stabilisation (within the meaning of Article 3.2 (d) of the Market Abuse Regulation (EU Regulation 596/2014) was undertaken by the Stabilising Managers named below in relation to the offer of the following securities.

Issuer: KFW
Guarantor (if any): Federal Republic of Germany
ISIN: DE000A2GSNR0
Aggregate nominal amount: € 5,000,000,000
Description: 0.625 % senior, unsecured Notes due 7th January 2028
Stabilisation Coordinator:
Stabilisation Managers:
Commerzbank
BNP
Goldman Sachs

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement is not for distribution, directly or indirectly, in or into the United States or any other jurisdiction in which such distribution would be unlawful.

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