Termsheet - 1-Year Callable Yield Note

Bank XXX
Aa by Moody's and AA by S&P
Trade date
8 June 2007

Underlying Information

Underlying Strike Price Barrier Price
Index A 54.15 35.1975
Index B 103.40 67.21
Index C 225.00 146.25
Issue Price
USD 1,000.00
Initial Fixing Date
8 June 2007
100% of the closing price on the initial fixing date for each underlying index
65% of the closing price on the initial fixing date for each underlying index
Issue Date
22 June 2007
Payment Dates
22 December 2007 and 22 June 2008
Interest Payment
2.50% of Nominal
Premium Payment
5.50% of Nominal
Early Redemption Date
22 December 2007
Issuer's Call Option Date
4 business days prior to the Early Redemption Date
Issuer's Call Option
The Issuer has the right to call the CYNs at 100% of Notional on Early Redemption Date
Final Fixing Date
8 June 2008
Final Fixing Level
100% of the closing price on the Final Fixing Date for each underlying index
Final Redemption Date
22 June 2008
Final Redemption

If the Fixing Level for each of the underlying index is greater than or equal to its barrier level on the Final Fixing Date:

100 % of Nominal


Returns of the worst perfomer index * Nominal.

Business day convention
30/360 Modfollowing
Business days
London and New York
Payment currency


Structured transactions are complex and may involve a high risk of loss. Prior to entering into a transaction you should consult with your own legal, regulatory, tax, financial and accounting advisors to the extent you consider it necessary, and make your own investment, hedging and trading decisions (including decisions regarding the suitability of this transaction) based upon your own judgement and advice from those advisers you consider

This document is for information purposes only and should not be construed as an offer, recommendation or solicitation to conclude a transaction and should not be treated as giving investment advice. The terms of any investment will be exclusively subject to the detailed provisions, including risk considerations, contained in the Information Memorandum.