If “Issuer Call” is specified in the applicable supplement, the Issuer may, subject (x) in the case of Subordinated Notes, to subparagraph (m) (Conditions to redemption of Subordinated Notes prior to Maturity Date), (y) in the case of Senior Non Preferred Notes, to subparagraph (q) (Conditions to redemption prior to the Maturity Date or substitution and variation of Senior Non Preferred Notes) or, (z) in the case of Senior Preferred Notes, if “Prior approval of Relevant Regulator” is specified in the applicable supplement, to subparagraph (s) (Conditions to redemption prior to the Maturity Date of Senior Preferred Notes) below, having given, unless otherwise specified in connection with a particular offering of Notes:

(i) not less than 5 nor more than 30 days notice to the Noteholders in accordance with “Notices,” paragraph 12 below, or as otherwise specified in the applicable supplement; and

(ii) not less than 5 days before the giving of the notice referred to in (i), notice to the Fiscal and Paying Agent; which notices shall be irrevocable and shall specify the date fixed for redemption, redeem all or some of the Notes then outstanding on any optional redemption date and at the optional redemption amounts specified in, or determined in the manner specified in, the applicable supplement together, if appropriate, with interest accrued to, but excluding, the relevant optional redemption date. Any such redemption must be of a nominal amount equal to the minimum redemption amount or a higher redemption amount. In the case of a partial redemption of Notes, the Notes to be redeemed (the “Redeemed Notes”) will be selected individually by lot, in the case of Redeemed Notes represented by certificated Notes, and in accordance with the rules of DTC, Euroclear and/or Clearstream, Luxembourg, in the case of Redeemed Notes represented by a Global Note or Master Note, not more than 30 days prior to the date fixed for redemption (such date of selection the “Selection Date”). In the case of Redeemed Notes represented by certificated Notes, a list of the serial numbers of such Redeemed Notes will be published in accordance with “Notices,” paragraph 12 below, not less than 5 days prior to the date fixed for redemption. The aggregate nominal amount of Redeemed Notes represented by certificated Notes shall bear the same proportion to the aggregate nominal amount of all Redeemed Notes as the aggregate nominal amount of certificated Notes outstanding bears to the aggregate nominal amount of the Notes outstanding, in each case on the Selection Date, provided that such first mentioned nominal amount shall, if necessary, be rounded downwards to the nearest integral multiple of the Specified Denomination, and the aggregate nominal amount of Redeemed Notes represented by a Global Note or Master Note shall be equal to the balance of the Redeemed Notes. No exchange of the relevant Global Note or Master Note will be permitted during the period from, and including, the Selection Date to, and including, the date fixed for redemption pursuant to this paragraph (c), and notice to that effect shall be given by the Issuer to the Noteholders in accordance with “Notices,” paragraph 12 below, at least 5 days prior to the Selection Date.

In the case of Subordinated Notes, no redemption at the option of the Issuer will be permitted prior to five (5) years from the date of issue thereof, except as described in subparagraph (m) (Conditions to redemption of Subordinated Notes prior to Maturity Date) below.

Callable on 22 February 2027 at 100.