Finnair successfully placed €200 million hybrid bonds on 1 October 2015. The initial coupon rate of the New Hybrid Bonds is fixed at 7.875 per cent per annum, but it will be subject to a coupon reset on each fifth anniversary of the issue date of the New Hybrid Bonds. The New Hybrid Bonds have no specified maturity date, but Finnair may exercise its redemption option on the fifth anniversary of the issue date of the New Hybrid Bonds and on each annual interest payment date thereafter. The New Hybrid Bonds were significantly oversubscribed and were allocated to more than

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