Overview Reference Bond Issuer/CDS-Spreads Indications only (Bloomberg CMAN values) CDS-Spreads with data as of 08.09.2014 Please note: Issuers of Reference Bonds are sorted in each CDS-Range with the highest CDS-Rate first. Reference Bond Issuer 1 Year CDS-Range <50 (low spreads) Issuer Reference Bond CDS Telecom Italia State Bank of India Banco do Brasil Federative Republic of Brazil Peugeot SA Uni Credit Republic of Italy Thyssenkrupp AG Sony Commerzbank Bank of Amerika Corporation Aegon N. V. Assicurazioni Generali Staples Inc Transocean Credit Suisse Group Ltd. Deutsche Bank AG Ford Motor Credit Company Banco Santander SA AXA ALSTOM Kingdom of Spain UBS AG Barrick Gold Corp Mark & Spencer Plc BNP Paribas Clariant AG Alcoa Inc. Enel S.p.A. Hyundai Motor Company Adecco SA Telefonica Zurich Insurance Co Ltd. ENI S.p.A. Holcim SA Fortum OYJ Berkshire Hathaway People's Republic of China Toyota Motor Corporation Pitney Bowes Hewlett-Packard 38.0 34.0 33.9 32.7 31.8 29.0 24.0 23.0 22.1 20.0 20.0 19.6 19.2 19.0 18.8 16.1 16.0 15.0 14.0 13.8 13.8 13.0 12.1 12.0 11.8 11.0 9.9 9.1 9.0 8.8 8.1 8.0 7.9 7.4 6.9 5.4 5.0 3.3 2.9 2.0 1.3 CDS-Range 50–150 (middle spreads) Issuer Reference Bond CDS Portugal Telecom Petrobras 88.0 80.3 CDS-Range >150 (high spreads) Issuer Reference Bond CDS Reference Bond Issuer 3 Years CDS-Range <50 (low spreads) Issuer Reference Bond CDS Mark & Spencer Plc Telefonica Commerzbank Clariant AG Aegon N. V. ALSTOM Ford Motor Credit Company Bank of Amerika Corporation Assicurazioni Generali Banco Santander SA Deutsche Bank AG Holcim SA BNP Paribas Enel S.p.A. Kingdom of Spain People's Republic of China Pitney Bowes Credit Suisse Group Ltd. Hyundai Motor Company AXA Adecco SA Fortum OYJ UBS AG ENI S.p.A. Hewlett-Packard Zurich Insurance Co Ltd. Berkshire Hathaway Toyota Motor Corporation 47.9 45.0 44.0 42.7 40.9 40.6 40.0 40.0 34.2 34.0 33.0 32.5 31.0 30.0 29.0 28.5 28.0 28.0 27.7 27.4 25.7 23.1 23.0 21.1 20.3 20.0 19.6 7.6 Reference Bond Issuer 5 Years CDS-Range <50 (low spreads) Issuer Reference Bond CDS AXA Credit Suisse Group Ltd. ENI S.p.A. Berkshire Hathaway Zurich Insurance Co Ltd. UBS AG Toyota Motor Corporation 50.0 48.0 44.7 42.0 39.0 39.0 19.0 CDS-Range 50–150 (middle spreads) Issuer Reference Bond Peugeot SA Banco do Brasil Telecom Italia Thyssenkrupp AG State Bank of India Transocean Staples Inc Federative Republic of Brazil Sony Alcoa Inc. Republic of Italy Uni Credit Barrick Gold Corp CDS-Range 50–150 (middle spreads) Issuer Reference Bond Alcoa Inc. Barrick Gold Corp Federative Republic of Brazil Sony Mark & Spencer Plc Clariant AG Telefonica Ford Motor Credit Company Republic of Italy Uni Credit Pitney Bowes ALSTOM Commerzbank Enel S.p.A. Bank of Amerika Corporation Holcim SA People's Republic of China Hewlett-Packard Aegon N. V. Assicurazioni Generali Banco Santander SA Hyundai Motor Company Deutsche Bank AG BNP Paribas Kingdom of Spain Fortum OYJ Adecco SA CDS 131.0 111.1 101.0 96.0 91.9 86.5 81.0 74.9 58.1 54.9 53.3 52.0 51.0 CDS 133.0 124.3 124.0 115.0 103.7 83.0 82.0 82.0 81.0 80.3 79.0 72.7 69.7 69.1 66.0 65.7 65.0 64.0 64.0 59.0 57.0 56.8 56.7 53.0 52.0 51.0 50.8 CDS-Range >150 (high spreads) Issuer Reference Bond Portugal Telecom Petrobras CDS-Range >150 (high spreads) Issuer Reference Bond Portugal Telecom Petrobras Peugeot SA Staples Inc Banco do Brasil Transocean Telecom Italia Thyssenkrupp AG State Bank of India CDS 174.1 155.4 CDS 270.0 222.6 216.5 195.0 183.3 181.0 167.0 158.0 151.3 This publication is for information purposes only and does not represent an investment recommendation or advice and contains neither an offer nor an invitation to make an offer. 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