Aegon Successfully Places Inaugural EUR 750
Million Conditional Pass-Through Covered Bond

Nov 24, 2015, 12:30 ET from United Business Media

Today, Aegon Bank N.V. priced its inaugural 5-year, EUR 750 million Conditional
Pass-Through Covered Bonds at 8 basis points over mid swaps resulting in an effective
yield of 0.267%. The deal was oversubscribed and successfully placed with a broad range of
institutional investors.

    The bonds are expected to be rated AAA by rating agencies Standard & Poor's and Fitch.
Aegon Bank N.V.'s Conditional Pass-Through Covered Bond Program is Dutch law-based and
backed by a pool of prime Dutch residential mortgage loans. It is registered with the
Dutch Central Bank (DNB) and is both UCITS[1]- and CRD IV[2]-compliant.

    This transaction enables Aegon to further diversify its funding sources and to attract
new external long-term funding. The net proceeds will be used to refinance part of the
existing Dutch mortgage portfolio of Aegon.

    Aegon Bank N.V. assigned ABN AMRO, Rabobank, Royal Bank of Scotland (RBS),
Societe Generale and UniCredit as joint bookrunners and NIBC Bank as co-lead manager for
the transaction. RBS has been designated as the sole arranger.

    About Aegon 

    Aegon's roots go back more than 150 years - to the first half of the nineteenth
century. Since then, Aegon has grown into an international company, with businesses in
more than 20 countries in the Americas, Europe and Asia. Today, Aegon is one of the
world's leading financial services organizations, providing life insurance, pensions and
asset management, with around 28,000 employees. Aegon's purpose is to help people take
responsibility for their financial future. On September 30, 2015, Aegon managed EUR 635
billion in revenue generating investments. http://www.aegon.com

    About Aegon Bank N.V. 

    Aegon Bank N.V. is part of Aegon the Netherlands and operates under two brands: Aegon
Bank, an online retail savings bank, and KNAB, a new online banking initiative for retail
and self-employed clients. Aegon Bank N.V. develops savings and investment products, and
supports Aegon's purpose to help people take responsibility for their financial future.
Aegon Bank N.V. offers a platform for funding mortgages for Aegon the Netherlands. Aegon
is a top 5 lender in the Dutch residential mortgage market. Aegon Bank N.V. has a credit
rating of A+ by Standard & Poor's and A- by Fitch.

    --------------------------------------------------

    1. Undertakings for Collective Investment in Transferable Securities Directive.

    2. Capital Requirement Directive

    DISCLAIMERS 

    Forward-looking statements 

    The statements contained in this document that are not historical facts are
forward-looking statements as defined in the US Private Securities Litigation Reform Act
of 1995. The following are words that identify such forward-looking statements: aim,
believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on,
plan, continue, want, forecast, goal, should, would, is confident, will, and similar
expressions as they relate to Aegon. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that are difficult to
predict. Aegon undertakes no obligation to publicly update or revise any forward-looking
statements. Readers are cautioned not to place undue reliance on these forward-looking
statements, which merely reflect company expectations at the time of writing. Actual
results may differ materially from expectations conveyed in forward-looking statements due
to changes caused by various risks and uncertainties. Such risks and uncertainties include
but are not limited to the following:

<pre>
    - Changes in general economic conditions, particularly in the United States, the
      Netherlands and the United Kingdom;
    - Changes in the performance of financial markets, including emerging markets, such as
      with regard to:
    - The frequency and severity of defaults by issuers in Aegon's fixed income investment
      portfolios;
    - The effects of corporate bankruptcies and/or accounting restatements on the financial
      markets and the resulting decline in the value of equity and debt securities Aegon
      holds; and
    - The effects of declining creditworthiness of certain private sector securities and the
      resulting decline in the value of sovereign exposure that Aegon holds;
    - Changes in the performance of Aegon's investment portfolio and decline in ratings of
      Aegon's counterparties;
    - Consequences of a potential (partial) break-up of the euro;
    - The frequency and severity of insured loss events;
    - Changes affecting longevity, mortality, morbidity, persistence and other factors that
      may impact the profitability of Aegon's insurance products;
    - Reinsurers to whom Aegon has ceded significant underwriting risks may fail to meet
      their obligations;
    - Changes affecting interest rate levels and continuing low or rapidly changing interest
      rate levels;
    - Changes affecting currency exchange rates, in particular the EUR/USD and EUR/GBP
      exchange rates;
    - Changes in the availability of, and costs associated with, liquidity sources such as
      bank and capital markets funding, as well as conditions in the credit markets in
      general such as changes in borrower and counterparty creditworthiness;
    - Increasing levels of competition in the United States, the Netherlands, the United
      Kingdom and emerging markets;
    - Changes in laws and regulations, particularly those affecting Aegon's operations,
      ability to hire and retain key personnel, the products Aegon sells, and the
      attractiveness of certain products to its consumers;
    - Regulatory changes relating to the insurance industry in the jurisdictions in which
      Aegon operates;
    - Changes in customer behavior and public opinion in general related to, among other
      things, the type of products also Aegon sells, including legal, regulatory or
      commercial necessity to meet changing customer expectations;
    - Acts of God, acts of terrorism, acts of war and pandemics;
    - Changes in the policies of central banks and/or governments;
    - Lowering of one or more of Aegon's debt ratings issued by recognized rating
      organizations and the adverse impact such action may have on Aegon's ability to raise
      capital and on its liquidity and financial condition;
    - Lowering of one or more of insurer financial strength ratings of Aegon's insurance
      subsidiaries and the adverse impact such action may have on the premium writings,
      policy retention, profitability and liquidity of its insurance subsidiaries;
    - The effect of the European Union's Solvency II requirements and other regulations in
      other jurisdictions affecting the capital Aegon is required to maintain;
    - Litigation or regulatory action that could require Aegon to pay significant damages or
      change the way Aegon does business;
    - As Aegon's operations support complex transactions and are highly dependent on the
      proper functioning of information technology, a computer system failure or security
      breach may disrupt Aegon's business, damage its reputation and adversely affect its
      results of operations, financial condition and cash flows;
    - Customer responsiveness to both new products and distribution channels;
    - Competitive, legal, regulatory, or tax changes that affect profitability, the
      distribution cost of or demand for Aegon's products;
    - Changes in accounting regulations and policies or a change by Aegon in applying such
      regulations and policies, voluntarily or otherwise, may affect Aegon's reported
      results and shareholders' equity;
    - The impact of acquisitions and divestitures, restructurings, product withdrawals and
      other unusual items, including Aegon's ability to integrate acquisitions and to obtain
      the anticipated results and synergies from acquisitions;
    - Catastrophic events, either manmade or by nature, could result in material losses and
      significantly interrupt Aegon's business; and
    - Aegon's failure to achieve anticipated levels of earnings or operational efficiencies
      as well as other cost saving and excess capital and leverage ratio management
      initiatives.
</pre>    Further details of potential risks and uncertainties affecting Aegon are described in
its filings with the Netherlands Authority for the Financial Markets and the US Securities
and Exchange Commission, including the Annual Report. These forward-looking statements
speak only as of the date of this document. Except as required by any applicable law or
regulation, Aegon expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any forward-looking statements contained herein to reflect any
change in Aegon's expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.

<pre>
     
    Media relations 
    Debora de Laaf 
    +31(0)70-344-8730 
    gcc@aegon.com  
    EmptyBreak:MARKER 
    Investor relations 
    Willem van den Berg 
    +31(0)70-344-8405 
    ir@aegon.com

     
</pre>     
        PRN NLD



The content and accuracy of news releases published on this site and/or
distributed by PR Newswire or its partners are the sole responsibility of the
originating company or organisation. Whilst every effort is made to ensure the
accuracy of our services, such releases are not actively monitored or reviewed
by PR Newswire or its partners and under no circumstances shall PR Newswire or
its partners be liable for any loss or damage resulting from the use of such
information. All information should be checked prior to publication.
Today, Aegon Bank N.V. priced its inaugural 5-year, EUR 750 million Conditional
Pass-Through Covered Bonds at 8 basis points over mid swaps resulting in an effective
yield of 0.267%. The deal was oversubscribed and successfully placed with a broad range of
institutional investors.

    The bonds are expected to be rated AAA by rating agencies Standard & Poor's and Fitch.
Aegon Bank N.V.'s Conditional Pass-Through Covered Bond Program is Dutch law-based and
backed by a pool of prime Dutch residential mortgage loans. It is registered with the
Dutch Central Bank (DNB) and is both UCITS[1]- and CRD IV[2]-compliant.

    This transaction enables Aegon to further diversify its funding sources and to attract
new external long-term funding. The net proceeds will be used to refinance part of the
existing Dutch mortgage portfolio of Aegon.

    Aegon Bank N.V. assigned ABN AMRO, Rabobank, Royal Bank of Scotland (RBS),
Societe Generale and UniCredit as joint bookrunners and NIBC Bank as co-lead manager for
the transaction. RBS has been designated as the sole arranger.

    About Aegon 

    Aegon's roots go back more than 150 years - to the first half of the nineteenth
century. Since then, Aegon has grown into an international company, with businesses in
more than 20 countries in the Americas, Europe and Asia. Today, Aegon is one of the
world's leading financial services organizations, providing life insurance, pensions and
asset management, with around 28,000 employees. Aegon's purpose is to help people take
responsibility for their financial future. On September 30, 2015, Aegon managed EUR 635
billion in revenue generating investments. http://www.aegon.com

    About Aegon Bank N.V. 

    Aegon Bank N.V. is part of Aegon the Netherlands and operates under two brands: Aegon
Bank, an online retail savings bank, and KNAB, a new online banking initiative for retail
and self-employed clients. Aegon Bank N.V. develops savings and investment products, and
supports Aegon's purpose to help people take responsibility for their financial future.
Aegon Bank N.V. offers a platform for funding mortgages for Aegon the Netherlands. Aegon
is a top 5 lender in the Dutch residential mortgage market. Aegon Bank N.V. has a credit
rating of A+ by Standard & Poor's and A- by Fitch.

    --------------------------------------------------

    1. Undertakings for Collective Investment in Transferable Securities Directive.

    2. Capital Requirement Directive

    DISCLAIMERS 

    Forward-looking statements 

    The statements contained in this document that are not historical facts are
forward-looking statements as defined in the US Private Securities Litigation Reform Act
of 1995. The following are words that identify such forward-looking statements: aim,
believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on,
plan, continue, want, forecast, goal, should, would, is confident, will, and similar
expressions as they relate to Aegon. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that are difficult to
predict. Aegon undertakes no obligation to publicly update or revise any forward-looking
statements. Readers are cautioned not to place undue reliance on these forward-looking
statements, which merely reflect company expectations at the time of writing. Actual
results may differ materially from expectations conveyed in forward-looking statements due
to changes caused by various risks and uncertainties. Such risks and uncertainties include
but are not limited to the following:

<pre>
    - Changes in general economic conditions, particularly in the United States, the
      Netherlands and the United Kingdom;
    - Changes in the performance of financial markets, including emerging markets, such as
      with regard to:
    - The frequency and severity of defaults by issuers in Aegon's fixed income investment
      portfolios;
    - The effects of corporate bankruptcies and/or accounting restatements on the financial
      markets and the resulting decline in the value of equity and debt securities Aegon
      holds; and
    - The effects of declining creditworthiness of certain private sector securities and the
      resulting decline in the value of sovereign exposure that Aegon holds;
    - Changes in the performance of Aegon's investment portfolio and decline in ratings of
      Aegon's counterparties;
    - Consequences of a potential (partial) break-up of the euro;
    - The frequency and severity of insured loss events;
    - Changes affecting longevity, mortality, morbidity, persistence and other factors that
      may impact the profitability of Aegon's insurance products;
    - Reinsurers to whom Aegon has ceded significant underwriting risks may fail to meet
      their obligations;
    - Changes affecting interest rate levels and continuing low or rapidly changing interest
      rate levels;
    - Changes affecting currency exchange rates, in particular the EUR/USD and EUR/GBP
      exchange rates;
    - Changes in the availability of, and costs associated with, liquidity sources such as
      bank and capital markets funding, as well as conditions in the credit markets in
      general such as changes in borrower and counterparty creditworthiness;
    - Increasing levels of competition in the United States, the Netherlands, the United
      Kingdom and emerging markets;
    - Changes in laws and regulations, particularly those affecting Aegon's operations,
      ability to hire and retain key personnel, the products Aegon sells, and the
      attractiveness of certain products to its consumers;
    - Regulatory changes relating to the insurance industry in the jurisdictions in which
      Aegon operates;
    - Changes in customer behavior and public opinion in general related to, among other
      things, the type of products also Aegon sells, including legal, regulatory or
      commercial necessity to meet changing customer expectations;
    - Acts of God, acts of terrorism, acts of war and pandemics;
    - Changes in the policies of central banks and/or governments;
    - Lowering of one or more of Aegon's debt ratings issued by recognized rating
      organizations and the adverse impact such action may have on Aegon's ability to raise
      capital and on its liquidity and financial condition;
    - Lowering of one or more of insurer financial strength ratings of Aegon's insurance
      subsidiaries and the adverse impact such action may have on the premium writings,
      policy retention, profitability and liquidity of its insurance subsidiaries;
    - The effect of the European Union's Solvency II requirements and other regulations in
      other jurisdictions affecting the capital Aegon is required to maintain;
    - Litigation or regulatory action that could require Aegon to pay significant damages or
      change the way Aegon does business;
    - As Aegon's operations support complex transactions and are highly dependent on the
      proper functioning of information technology, a computer system failure or security
      breach may disrupt Aegon's business, damage its reputation and adversely affect its
      results of operations, financial condition and cash flows;
    - Customer responsiveness to both new products and distribution channels;
    - Competitive, legal, regulatory, or tax changes that affect profitability, the
      distribution cost of or demand for Aegon's products;
    - Changes in accounting regulations and policies or a change by Aegon in applying such
      regulations and policies, voluntarily or otherwise, may affect Aegon's reported
      results and shareholders' equity;
    - The impact of acquisitions and divestitures, restructurings, product withdrawals and
      other unusual items, including Aegon's ability to integrate acquisitions and to obtain
      the anticipated results and synergies from acquisitions;
    - Catastrophic events, either manmade or by nature, could result in material losses and
      significantly interrupt Aegon's business; and
    - Aegon's failure to achieve anticipated levels of earnings or operational efficiencies
      as well as other cost saving and excess capital and leverage ratio management
      initiatives.
</pre>    Further details of potential risks and uncertainties affecting Aegon are described in
its filings with the Netherlands Authority for the Financial Markets and the US Securities
and Exchange Commission, including the Annual Report. These forward-looking statements
speak only as of the date of this document. Except as required by any applicable law or
regulation, Aegon expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any forward-looking statements contained herein to reflect any
change in Aegon's expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.

<pre>
     
    Media relations 
    Debora de Laaf 
    +31(0)70-344-8730 
    gcc@aegon.com  
    EmptyBreak:MARKER 
    Investor relations 
    Willem van den Berg 
    +31(0)70-344-8405 
    ir@aegon.com

     
</pre>     
        PRN NLD



The content and accuracy of news releases published on this site and/or
distributed by PR Newswire or its partners are the sole responsibility of the
originating company or organisation. Whilst every effort is made to ensure the
accuracy of our services, such releases are not actively monitored or reviewed
by PR Newswire or its partners and under no circumstances shall PR Newswire or
its partners be liable for any loss or damage resulting from the use of such
information. All information should be checked prior to publication.