Análisis e interpretación de las encuestas aplicadas a los docentes

1. Relevant clearing and/or settlement system(s): [Euroclear/Clearstream, Luxembourg/Euroclear Netherlands/any other applicable settlement institution]

2. Any clearing and/or settlement system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme and the relevant

identification number(s):

[Not Applicable/give name(s) and number(s) and address(es)]

3. Delivery: Delivery [against/free of] payment

4. Debt Issuance Programme number: [...] 5. Additional Paying Agent(s) (if any): [...]

6. Offer Period/application process: [[The offer of the Notes is expected to open at [...] hours ([...] time) on [...] and close at [...] hours ([...] time) on [...] or such earlier or later date or time as the Issuer may determine and will be announced in [...].]

[The Issuer reserves the right to withdraw the offer of the Notes until [...] at the latest. Such withdrawal will be announced in the aforementioned publications.]

[The aggregate principal amount of the Notes to be issued and allotted will be announced by the Issuer at [...] hours ([...] time) on [...] or such earlier or later date or time as the Issuer may determine and will be announced in the aforementioned publications.] [The Issuer reserves the right to increase or decrease the aggregate principal amount of the Notes to be issued. Such increase or decrease will be announced in the aforementioned publications]

the aggregate principal amount of the Notes is announced as set out above.]

[Not Applicable]]

[The offer price is [equal to the Issue Price] […]] 7. Reduction of subscriptions: [Subscriptions in excess. If the Issuer determines to

increase or decrease the aggregate principal amount of the Notes to be issued this will be announced by the Issuer at [...] hours ([...] time) on [...] or such earlier or later date or time as the Issuer may determine and will be announced in the aforementioned publications.]

8. Maximum and minimum subscription amount: [...] and [...] 9. Method and time limit for paying up the securities

and for delivery of the securities:

[...]

10. Procedure for exercise of any right of pre-emption the negotiability of subscription rights and the treatment of subscription rights not exercised:

[...]

11. Intended to be held in a manner which would allow Eurosystem eligibility:

[Yes/No]

[Note that the designation "yes" simply means that the Notes are intended upon issue to be deposited with one of the ICSDs as common safekeeper and does not necessarily mean that the Notes will be recognised as eligible collateral for Eurosystem monetary policy and intra-day credit operations by the Eurosystem either upon issue or at any or all times during their life. Such recognition will depend upon satisfaction of the Eurosystem eligibility criteria.] [include this text if "yes" is selected in

which case the Notes must be issued in NGN form]

12. Indication of yield (Fixed Rate Notes only): [Calculated as […] on the Issue Date] The yield is calculated at the Issue Date on the basis of the Issue Price. It is not an indication of future yield.

13. Notices to be published in an English language daily newspaper of general circulation in London:

[Yes/No]

14. ISIN: [...]

Common code: [...]

Other relevant code: [...]

15. Ratings: [The Notes to be issued have not been rated.]

[The Notes to be issued have been rated:

[S & P: [...] ]

[Fitch: [...] ]

meaning of the ratings if this deviates from the explanations given in "General Information" published by the rating provider.] **

[[Insert the full legal name of credit rating agency] is established in the European Union and has applied for registration under Regulation (EC) No 1060/2009, although notification of the corresponding registration decision has not yet been provided by the relevant competent authority.] [[Insert the full legal name of credit rating agency] is established in the European Union and registered under Regulation (EC) No 1060/2009.]

(ii) Notification to maturity: The [AFM] [has been requested to provide/has provided (include first alternative for an issue which

is contemporaneous with the establishment or update of the Programme and the second alternative for subsequent issues)] the [Commission de Surveillance

du Secteur Financier (CSSF) in Luxembourg/the Financial Services and Markets Authority in Belgium (FSMA)/Specify other] with a certificate of approval attesting that the Base Prospectus has been drawn up in accordance with the Prospectus Directive as implemented in the Netherlands.]

16. Interests of natural and legal persons involved in the Issue:

[Save for any fees payable to the Dealers, so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer. (Amend as appropriate if there are other interests)] 17. Identification of the sources of third party

information, if applicable:

[Not Applicable / [...]]

18. Reasons for the offer, estimated net proceeds and total expenses:**

(i) Reasons for the offer: [...]

(See ['Use of Proceeds'] wording in Base Prospectus

– if reasons for offer different from making profit and/or hedging certain risks will need to include those reasons here.)]

(ii) Estimated net proceeds: [...]

(If proceeds are intended for more than one use will

need to split out and present in order of priority. If proceeds insufficient to fund all proposed uses state amount and sources of other funding.)

(iii) Estimated total expenses: [...] [Include breakdown of expenses] 19. Details of historic [LIBOR/EURIBOR/CMS

London/CMS Brussels] rates can be obtained from [Reuters Screen].]*

*

20. TERMS AND CONDITIONS OF THE OFFER*

Conditions to which the offer is subject: [Offers of the Notes are conditional on their issue. As between the Authorised Offerors and their customers, offers of the Notes are further subject to conditions as may be agreed between them and/or as specified in the arrangements in place between them.]

Total amount of the offer; if the amount is not fixed, description of the arrangements and time for announcing the definitive amount to the public:

[ ]

Description of the application process, including offer period, including any possible amendments, during which the offer will be open:

[A prospective Noteholder should contact the applicable Authorised Offeror in the applicable Public Offer Jurisdiction prior to the end of the Offer Period. A prospective Noteholder will subscribe for the Notes in accordance with the arrangements existing between such Authorised Offeror and its customers relating to the subscription of securities generally. Noteholders will not be required to enter into any contractual arrangements directly with the Issuer in connection with the subscription of the Notes.][ ]

Description of possibility to reduce subscriptions: [Not Applicable/give details] Description of manner for refunding excess amount

paid by applicants:

[Not Applicable/give details]

Details of the minimum and/or maximum amount of application:

[There are no pre-identified allotment criteria. The Authorised Offeror will adopt allotment criteria in accordance with customary market practices and applicable laws and regulations.] [ ]

Details of the method and time limits for paying up and delivering the Notes:

[Investors will be notified by the relevant Authorised Offeror of their allocations of Notes and the settlement arrangements in respect thereof.] [ ] Manner in and date on which results of the offer are

to be made public:

[Investors will be notified by the applicable Authorised Offeror of their allocations of Notes and the settlement procedures in respect thereof on or around [date].] [ ]

Procedure for exercise of any right of pre-emption, negotiability of subscription rights and treatment of subscription rights not exercised:

[Not Applicable/give details]

Categories of potential investors to which the Notes are offered and whether tranche(s) have been reserved for certain countries:

[Offers may be made by the Authorised Offerors in each of the Public Offer Jurisdictions to any person during the Offer Period. In other EEA countries and in all jurisdictions (including the Public Offer Jurisdictions) outside of the Offer Period, offers will only be made by the [Dealers] pursuant to an exemption under the Prospectus Directive, as implemented in such countries. All offers of the Notes will be made in compliance with all applicable laws and regulations.] [ ]

Process for notification to applicants of the amount allotted and the indication whether dealing may begin before notification is made:

[Prospective Noteholders will be notified by the relevant Authorised Offeror in accordance with the arrangements in place between such Authorised Offeror and the prospective Noteholders.]

Name(s) and address(es), to the extent known to the Issuer, of the placers in the various countries where the offer takes place:

The Initial Authorised Offerors identified in paragraph 38 of Part A above [and any additional Authorised Offerors who have or obtain the Issuer's consent to use the Prospectus in connection with the Public Offer and who are identified on the Issuer's website as an Authorised Offeror] (together, the "Authorised Offerors").

Amount of any expenses and taxes specifically

charged to the subscriber or purchaser:

[Not Applicable/give details]