Intesa Sanpaolo S.p.A. Covered Bonds (OBG - Mortgages - Programme 2)

Intesa Sanpaolo Obbligazioni Bancarie Garantite 2 (OBG, Italian Covered Bonds) is a fully retained CB programme, issued under Italian Securitisation Law. In case of an issuer event of default, a notice will be sent to the guarantor in order to make payments on the covered bonds with the available interest and principal collections arising from the cover pool until the extended maturity date, after which, if covered bonds are still outstanding, there will be a cross acceleration event.