Covered bonds

As part of its funding strategy, NN Bank raises secured funding. It primarily relies on the issuance of Soft Bullet covered bonds as the main secured funding source to finance balance sheet growth.

Soft Bullet Covered Bond Programme

In June 2020, NN Bank established a Soft Bullet Covered Bond Programme, backed by Dutch prime residential mortgage loans. This programme is used for funding purposes (capital market covered bond issuances) and liquidity purposes (retained covered bond issuances). Prior to the launch of the Soft Bullet Covered Bond Programme, NN Bank used a Conditional Pass-Through (CPT) Covered Bond Programme. Following a successful consent solicitation in April 2022, all former CPT covered bonds novated to the Soft Bullet Covered Bond Programme. In May 2022 the CPT Covered Bond Programme was terminated. Documentation of the CPT Programme is available on request.

Soft Bullet Documentation

Type Date of publication Documentation
Soft Bullet Covered Bond Programme 18 July 2024 Base Prospectus

Type Date of publication Documentation
Supplement to the Base Prospectus 30 August 2023 1st Supplement to the Base Prospectus
Soft Bullet Covered Bond Programme 8 August 2023 Base Prospectus
Supplement to the Base Prospectus 2 May 2023 3rd Supplement to the Base Prospectus 2022
Supplement to the Base Prospectus 13 February 2023 2nd Supplement to the Base Prospectus 2022

Type Date of publication Documentation
Supplement to the Base Prospectus 27 September 2022 1st Supplement to the Base Prospectus 2022
Soft Bullet Covered Bond Programme 6 July 2022 Base Prospectus
Supplement to the Base Prospectus 25 April 2022 1st Supplement to the Base Prospectus

Type Date of publication Documentation
Soft Bullet Covered Bond Programme 29 June 2021 Base Prospectus
Supplement to the Base Prospectus 19 February 2021 2nd Supplement to the Base Prospectus

Type Date of publication Documentation
Soft Bullet Covered Bond Programme 18 June 2020 Base Prospectus
Supplement to the Base Prospectus 14 September 2020 1st Supplement to the Base Prospectus

Soft Bullet Final Terms

The following bonds have been issued under the Soft Bullet Covered Bond Programme for funding purposes:

Series name ISIN code Amount Fixed coupon Due date Documentation
16 NL0015001R87 €750,000,000 3.625% 16 October 2026 Final Terms
13 (Green) NL0015001BV1 €750,000,000 3.250% 28 May 2027 Final Terms
12 (Green) NL0015000WP1 €500,000,000 1.875% 17 May 2032 Final Terms
11 NL0013995095 €500,000,000 0.125% 24 Sep 2029 Final Terms
10 NL0013423155 €20,000,000 1.432% 21 Mar 2039 Final Terms
9 NL0013423122 €25,000,000 1.400% 18 Mar 2039 Final Terms
7(2) NL0013088990 €50,000,000 1.000% 25 Sep 2028 Final Terms
7 NL0013088990 €500,000,000 1.000% 25 Sep 2028 Final Terms
6 NL0013019375 €500,000,000 0.625% 11 Sep 2025 Final Terms
5 NL0012650477 €500,000,000 0.500% 10 Oct 2024 Final Terms
4 NL00150008B6 €500,000,000 0.375% 4 March 2041 Final Terms
3 NL00150002A1 €250,000,000 0.05% 12 Nov 2040 Final Terms
2 NL0015614611 €500,000,000 0.05% 24 Sep 2035 Final Terms
1 NL0015436072 €500,000,000 0.01% 8 Jul 2030 Final terms

Retained Soft Bullet Final Terms

The following bonds have been issued under the Soft Bullet Covered Bond Programme and are retained by NN Bank to create collateral for liquidity purposes:

Series name ISIN code Amount Fixed coupon Due date Documentation
15 NL0015001MU0 €750,000,000 3.295% 6 Sep 2030 Final Terms
14 NL0015001GS6 €1,250,000,000 3.195% 9 Jun 2032 Final Terms

Soft Bullet Investor Presentations

Type Date of publication Documentation
NN Bank Soft Bullet Covered Bond Programme 14 October 2024 Investor Presentation
NN Bank Soft Bullet Covered Bond Programme 18 April 2024 Investor Presentation
Type Date of publication Documentation
NN Bank Soft Bullet Covered Bond Programme 12 September 2023 Investor Presentation
NN Bank Soft Bullet Covered Bond Programme 17 May 2023 Investor Presentation

Type Date of publication Documentation
NN Bank Soft Bullet Covered Bond Programme 14 September 2022 Investor Presentation
NN Bank Soft Bullet Covered Bond Programme 9 May 2022 Investor Presentation

Type Date of publication Documentation
NN Bank Soft Bullet Covered Bond Programme 22 February 2021 Investor Presentation
Type Date of publication Documentation
NN Bank Soft Bullet Covered Bond Programme 15 September 2020 Investor Presentation
NN Bank Soft Bullet Covered Bond Programme 29 June 2020 Investor Presentation

Soft Bullet Documentation

    Covered Bond Company annual reports

    Soft Bullet Investor Reports

    National Transparency Template Harmonised Transparency Template
    December NTT SB 2020-12 HTT SB 2020-12
    November NTT SB 2020-11 HTT SB 2020-11
    October NTT SB 2020-10 HTT SB 2020-10
    September NTT SB 2020-9 HTT SB 2020-9
    August NTT SB 2020-8 HTT SB 2020-8
    July NTT SB 2020-7 HTT SB 2020-7
    May HTT SB 2020-5

    • Form could not be processed
    Feedback

    Our main brands