Takarek Jelzálogbank : Final terms of tenth tap of TJ31NF01 Takarék Covered Bond

Takarék Mortgage Bank Co. Plc.' Public Offering of the 10. tap of the TJ31NF01 mortgage bond series to be issued

under the Issuer's 2022-2023 Covered Bond and Senior Unsecured Bond Issuance Programme

Pursuant to the regulation of Board of Directors No. 76/2021. (23 December 2021) of the Takarék Mortgage Bank Co. Plc's (registration number: 01-10-043638, date of registration: 18 March 1998, head office: 1117 Budapest Magyar Tudósok körútja 9. G. épület, LEI-code: 5299007F4BUUY6S14E44) (hereafter: "Issuer", or "Bank") and to the approval IG_W_MTB_221_2021 (2021.12.03) of Board of Directors of the Bank of Hungarian Savings Cooperatives Co. Ltd. (head office: 1122 Budapest, 1122 Budapest, Pethényi köz 10.), and to the Statement of the Central Organization of Integrated Credit Institution as of 25 January 2022 the Issuer launched its Issue Program 2022-2023 with a HUF 200 billion total nominal amount for the issuance of Hungarian Mortgage Covered Bonds (jelzáloglevelek) and Notes. Within the frameworks of the aforementioned Issue Program the Issuer plans to issue different registered mortgage covered bonds' and bond series in different tranches. The Issuer at its own discretion may introduce the series into the Budapest Stock Exchange. The Issuer publishes its Base Prospectus on the website of its own and of the BSE the hard copies are available at the selling places.

The number and date of the license granted by the Magyar Nemzeti Bank (MNB) to the Base Prospectus of the Issue Program: H-KE-III-180/2022, 17 March 2022.

Pursuant to the Issue Program referred above the Issuer publicly offers to issue on 11 October 2022 the tenth tap of Takarék Mortgage Covered Bond series TJ31NF01 and Takarék Mortgage Bank will initiate to introduce the series into the BSE. The basis of the issue: the resolution No 2022/XXIV.-1. (10.02.) (03 October 2022) of the Assets/Liabilities Committee.

The decision H-KE-III-533/2022 (12 September 2022) of MNB authorized the Issuer to use the "European Premium Covered Bond" Logo for its mortgage bonds to be issued in the future. This means that the issuer fully complies with the requirements of the European covered bond regulation i.e. the Directive (EU) 2019/2162 of the European Parliament and of the Council and the procedures and practices it uses also ensure that the mortgage bonds it issues meet the enhanced requirements that determine the prudential requirements of European credit institutions. As a result, the issuance of the present covered bond series will also be placed in the premium category.

This document is the Final Terms of the covered mortgage bond series detailed below. Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions of the covered mortgage bonds set forth in the Base Prospectus dated 17 March 2022 (Base Prospectus). This document had been prepared in line with the application of the Regulation (EU) 2017/1129 of the European Parliament and the Council (Prospectus Directive) on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market and repealing the Directive 2003/71/EC and to get all the relevant information it must be interpreted in conjunction with the Base Prospectus and its Supplements. This Final Terms must be read together with the Base Prospectus. Pursuant to the Article 21 of the Prospectus Directive the Base Prospectus and its Supplements are available on the websites of the Issuer (http://en.takarekjzb.hu) of the Budapest Stock Exchange (http://www.bet.hu), and the MNB (http://kozzetetelek.mnb.hu/).

1.	Issuer:		Takarék Mortgage Bank Co. Plc.
			(Takarék Jelzálogbank Nyilvánosan Működő
			Részvénytársaság) 1117 Budapest Magyar Tudósok körútja 9.
			G. épület
2.	(a)	Type of security	mortgage covered bond
	(b)	Series Number:	4 (Under Issue Program 2020-2021)
	(c)	Tranche Number:	10
3.	Offered volume:	HUF 1,000,000,000
			The Issuer reserves the right to deviate +/- 50% from the

volume offered or to declare the auction unsuccessful depending on the bids received. In case of an unsuccessful auction, the total amount of bids will be refused.

4. Aggregate Nominal Amount:

	(a)	Series:	HUF 33,485,940,000
	(b)	Tranche:	min HUF 500,000,000
5.	Specified Currency or Currencies:	HUF
6.	Issue Price (per Mortgage Bond):	Not Applicable
7.	Specified Denominations:	HUF 10,000
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8. Number of pieces

		(a) Series:	3,348,594 pieces
		(b) Tranche:	min 50,000 pieces
9.		(a)	Issue Date:	11.10.2022
		(b)	Interest Commencement Date:	25.02.2021
10.	Date of Settlement	13.10.2022
11.	Value Date:	13.10.2022
12		Maturity Date:	22.10.2031
13.	Tenor:		25.02.2021-22.10.2031
14.	Interest Basis:		Fix interest rate
15	Redemption/Payment Basis:	Redemption at the Specified Denomination
16	Change of Interest Basis or Redemption/ Payment	Not Applicable
Basis:
17.Put/Call Options:	Not Applicable
18.Method of the issuance:	Public offering

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

19.Fixed Rate Mortgage Bond Provisions	Applicable
	(i)	Rate(s) of Interest:	3.00 per cent. per annum payable annually in arrear
	(ii)	Interest Payment Date(s):	22 October in each year up to and including the Maturity Date.
			On 22 October 2021 HUF (short first coupon) 196 per Specified
			Denomination
	(iii)	Fixed Coupon Amount per Mortgage	HUF 300 per Specified Denomination
		Bond:
	(iv)	Broken Amount(s):	Not Applicable
	(v)	Day Count Fraction:	Actual/Actual (ICMA)
	(vi)	Business Day Convention:	Following Business Day Convention
	(vii)	Determination Date(s):	22 October in each year thereafter
	(viii)	Party responsible for calculating	Paying Agent MTB Magyar Takarékszövetkezeti Bank Zrt.
		amounts payable:	(1122 Budapest Pethényi köz 10.)
	(ix)	Compound interest:	2.9260 per cent on 13.10.2022
	(x)	Other terms relating to the method of	None
		calculating interest for Fixed Rate
		Mortgage Bonds:
	(xi)	Gross yield	Not Applicable
20	Floating Rate Mortgage Bond Provisions	Not Applicable
21.	Zero Coupon Mortgage Bond Provisions	Not Applicable
22.	Index Linked Interest Mortgage Bond	Not Applicable
	Provisions
		PROVISIONS RELATING TO REDEMPTION
23.	Issuer Call:	Not Applicable
24.	Investor Put:	Not Applicable
25.	Final Redemption Amount:	HUF 10,000 per Specified Denomination
26.	Early Redemption Amount payable on	Condition 5(d) is applicable
	redemption for taxation reasons or on event of
	default and/or the method of calculating the

same (if required or if different from that set out in Condition 5(d)):

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	GENERAL PROVISIONS APPLICABLE TO THE MORTGAGE BONDS
27.	The type of the Mortgage Covered Bonds:	Registered Mortgage Covered Bonds
28.	Details relating to the appearance of Mortgage	Dematerialised Mortgage Covered Bonds and the Deed
	Covered Bonds:

29. Representation of the Mortgage Covered Bonds

Holders:

None

30. Planned dates of the issuance of new tranches: According to the decision of the Issuer's Asset/Liability

Committee

31.	Additional Financial Centre(s) or other special	Not Applicable
provisions relating to Payment Dates:
32.	Details relating to Partly Paid Mortgage Covered	Not Applicable
Bonds: amount of each payment comprising the Issue Price
and date on which each payment is to be made and
consequences of failure to pay, including any right of the
Issuer to forfeit the Mortgage Bonds and interest due on late
payment:
33. Change of denomination	Not Applicable
34.	Other final terms:	Not Applicable
	DISTRIBUTION
35.	If syndicated, names of
	Managers:	Concorde Értékpapír Zrt. 1123 Budapest, Alkotás u. 55-61.,
		ING Bank N.V.Magyarországi fióktelepe 1068 Budapest,
		Dózsa György út 84/b.
		MKB Bank Nyrt. 1056 Budapest, Váci utca 38.,
		MTB Magyar Takarékszövetkezeti Bank Zrt. 1122 Budapest,
		Pethényi köz 10.
36.	Stabilising Manager (if any):	Not Applicable

37. Market Makers (best effort/binding)

			Concorde Értékpapír Zrt. 1123 Budapest, Alkotás u. 55-61.,
			(best effort)
			ING Bank N.V.Magyarországi fióktelepe 1068 Budapest,
			Dózsa György út 84/b.(best effort)
			MKB Bank Nyrt. 1056 Budapest, Váci utca 38., (best effort)
			MTB Magyar Takarékszövetkezeti Bank Zrt. 1122 Budapest,
			Pethényi köz 10. (binding)
38.	Methods of public issuance:		Auction
(i)	Date of auction/ Subscription:		11.10.2022 10:00 - 11:00 CET (competitive section: 10:00-
			10:50; non-competitive section 10:50-11:00)
(ii) Place of auction/ Subscription:
			Budapest Stock Exchange
(iii)	Manager:
			MTB Magyar Takarékszövetkezeti Bank Zrt. 1122 Budapest,
			Pethényi köz 10
(iv) Upper limit:		Not applicable
(v) Lower limit:
			Not applicable. If the Mortgage Covered Bonds offered by
			the Issuer for sale are not purchased because no
			appropriate purchase price is received on the above-
			mentioned accounts, the Issuer might decide not to issue
			any bonds. The mode of refunding will be discussed under
			the heading 'Refunding'.
(vi)	Auction limit/ Subscription price:		Not applicable
(vii) Auction bid / subscription lower	and/or upper	Not applicable
limit:

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(viii) Method and date of allocation:

Pursuant to the point (Allocation) of the section IV.5.2 (Rules of the auctions) 5.2.1.6 Allocation sub-point of the Base Prospectus of the Issue Program 2022-2023, on 11.10.2022.

	(ix) The ratio of the non competitive bids and total bids	Not applicable
	(x) The ratio of the non competitive bids and the	Not applicable
	competitive bids by members of BSE sections:
	(xi) The maximum volume of the non competitive bids	HUF 200,000,000
	by members of BSE section:
	(xii) Date and place of the allocation:	11.10.2022 12:30 CET at the websites indicated in the point
		Notes (57.)
39.	Place of the issuance:	Hungary
40.	Potential investors:	Resident and non-resident natural persons and institutional
		investors, limited partnerships
41.	Pre-emption right	None
42.	Additional selling restrictions:	Not Applicable

PROCEDURE

1. Clearing and Settlement:
2. Any clearing system(s) other than KELER and the relevant identification number(s):
3. Delivery:
4. Effectuation:
5. Crediting:
6. Other paying Agent(s):
7. Isolated deposit accounts and fax numbers, and e-mail address of the Managers:

KELER Zrt. 1074 Budapest, Rákóczi út 70-72.

Not Applicable

DVP

Hungary

On security accounts

Not Applicable

Concorde Értékpapír Zrt. 14400018-12281248-10060012 fax: [phone]e-mal:[e-mail]

ING Bank N.V.Magyarországi fióktelepe 13700016- 00532547-00000000 email: [e-mail]

MKB Bank Nyrt. 10300002-20191196-70383285, fax. [phone] e-mail:[e-mail]

MTB Magyar Takarékszövetkezeti Bank Zrt. 19017004-

00201153 fax: [phone],e-mail:[e-mail]

Takarék Mortgage Bank: 16801680-09013607

50. Disbursements, place of payments:

Pursuant to the point 4. (Disbursements) of the section IV.4/A (Terms and conditions of the covered mortgage bonds) of the Base Prospectus of the Issue Program 2022- 2023.

51.	ISIN code:	HU0000653423
52.	Ticker code:	TJ31NF01
53.	Other:	Not Applicable

	GENERAL INFORMATION
54. Use of Proceeds:	The Bank uses the proceeds for the sources of refinancing
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	activity.
55. Market making:	MTB MagyarTakarékszövetkezeti Bank	Zrt. is a	binding
	market maker, the other Managers are entitled but not
	obliged to act as a market maker for one year from the first
	day of the listing
56. Notices, place of disclosure of information	The Public Offering, the Final Terms, the Base Prospectus,
	an all ordinary and extraordinary notices to Investors with
	respect to the Notes issued through a public issue shall be
	published	on	the	website	of	the	Issuer
	(www.en.takarekjzb.hu),	of		the	NBH
	(www.kozzetetelek.mnb.hu) and of the BSE (www.bse.hu).
	Pursuant to the Decree of Ministry of Finance No. 24/2008
	(VIII. 15) the Issuer publishes the regulated information at
	homepages of the media called Portfolio. The hard copies of
	the Base Prospectus are available at the selling points.
57. Notes:	The Public Offering, the Final Terms, the Base Prospectus,
	an all ordinary and extraordinary notices to Investors with
	respect to the Notes issued through a public issue shall be
	published	on	the	website	of	the	Issuer
	(www.en.takarekjzb.hu),	of		the	NBH
	(www.kozzetetelek.mnb.hu) and of the BSE (www.bse.hu).
	Pursuant to the Decree of Ministry of Finance No. 24/2008
	(VIII. 15) the Issuer publishes the regulated information at
	homepages of the media called Portfolio.
58. Governing law:	Hungarian law

OTHER CONDITIONS

59. Listing and admission to trading application:

1. Listing:
2. Listing Agent:

( c) Decision on listing:

60. Rating:

61. Licence:

The Issuer will initiate the listing of the series on the BSE

Not applicable

Resolution 2022./XXIV.-1. (10.03.) (03.10.2022) of the Issuer's Asset/Liability Committee (EFB)

The Covered Mortgage Bonds' rating: BBB (S&P) negative outlook.

The BBB is notches lower than AAA, which is the highest rating of S&P, but one notch higher than the lowest investment grade category (BBB-). The BBB rating means adequate security from investors' point of view, however, in an unfavourable economic environment and worsening conditions, the debtor's ability to meet his payment obligations is reduced. The "negative" outlook means that there is at least a one-third chance that the Hungarian sovereign rating and, with it, the mortgage bonds will be downgraded in the next two years.

The number and date of the license granted by the National Bank of Hungary (NBH) to publish the Base Prospectus of the Issue Program and the disclosure of the public issue: H- KE-III-180/2022 (17 March 2022).

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