Deutsche Telekom Ag, Deutsche Telekom

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Deutsche Telekom Ag, Deutsche Telekom Debt Issuance Programme Prospectus Dated 24 April 2009 This document constitutes two prospectuses: (i) the prospectus of Deutsche Telekom AG in respect of non-equity securities within the meaning of Art. 22 No. 6 (4) of the Commission Regulation (EC) No. 809/2004 of 29 April 2004 ("Non-Equity Securities") and (ii) the prospectus of Deutsche Telekom International Finance B.V. in respect of Non-Equity Securities (together, the "Prospectus"). Deutsche Telekom AG Bonn, Federal Republic of Germany as Issuer and as Guarantor for Notes issued by Deutsche Telekom International Finance B.V. a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of The Netherlands and having its corporate seat in Amsterdam, The Netherlands as Issuer EUR 25,000,000,000 Debt Issuance Programme Application has been made to the Luxembourg Commission de Surveillance du Secteur Financier (the "CSSF"), which is the Luxembourg competent authority for the purpose of Directive 2003/71/EC (the "Prospectus Directive") for its approval of this Prospectus. Application has been made to the Luxembourg Stock Exchange for Notes issued under the Programme (the "Programme") to be admitted to trading on the Luxembourg Stock Exchange's regulated market and to be listed on the official list of the Luxembourg Stock Exchange. Notes issued under the Programme may also be listed on an alternative stock exchange or may not be listed at all. Each Issuer has requested the CSSF to provide the competent authorities in the Federal Republic of Germany, the United Kingdom of Great Britain and Northern Ireland, the Republic of Ireland and the Republic of Austria, with a certificate of approval attesting that the Prospectus has been drawn up in accordance with the Loi relative aux prospectus pour valeurs mobilières which implements Directive 2003/71/EC of the European Parliament and the Council of 4 November 2003 into Luxembourg law ("Notification"). Each Issuer may request the Commission to provide competent authorities in additional host Member States within the European Economic Area with a Notification. See "Risk Factors" for a discussion of certain factors which should be considered by prospective investors in connection with an investment in any of the Notes. This Debt Issuance Programme Prospectus constitutes a base prospectus for the purposes of Article 5.4 of the Prospectus Directive. Arranger Deutsche Bank Dealers Barclays Capital BBVA BNP PARIBAS Citi Deutsche Bank DZ BANK AG Goldman Sachs International J.P. Morgan Morgan Stanley Société Générale Corporate & UniCredit (HVB) The Royal Bank of Scotland Investment Banking WestLB AG This Prospectus has been filed with the CSSF and will be published in electronic form on the website of the Luxembourg Stock Exchange (www.bourse.lu) and the website of each Issuer. This Prospectus replaces the Prospectus dated 24 April 2008 last updated by a Supplement dated 4 March 2009 pertaining to the Programme. Table of Contents Responsibility Statement..........................................................................................................................3 Notice........................................................................................................................................................4 Summary...................................................................................................................................................6 Risk Factors.....................................................................................................................................10 The Notes........................................................................................................................................11 Deutsche Telekom AG.....................................................................................................................12 Deutsche Telekom International Finance B.V.................................................................................14 German Translation of the Summary......................................................................................................15 Risk Factors............................................................................................................................................25 Regarding the Issuers......................................................................................................................25 Deutsche Telekom AG.....................................................................................................................25 Deutsche Telekom International Finance B.V.................................................................................35 Regarding the Notes........................................................................................................................36 Incorporation by Reference / Documents on Display.............................................................................40 General Description of the Programme..................................................................................................42 General............................................................................................................................................42 Issue Procedures.............................................................................................................................42 Deutsche Telekom AG as Issuer and Guarantor....................................................................................44 Deutsche Telekom International Finance B.V. as Issuer........................................................................98 English Language Terms and Conditions.............................................................................................102 German Language Version of the Terms and Conditions....................................................................121 English Language Guarantee...............................................................................................................142 Non-binding translation of the Guarantee into German........................................................................145 Form of Final Terms/Muster der Endgültigen Bedingungen.................................................................148 Taxation................................................................................................................................................167 General Information..............................................................................................................................172 Selling Restrictions................................................................................................................................172 Use of Proceeds....................................................................................................................................175 Listing Information.................................................................................................................................175 Authorisation.........................................................................................................................................176 Names and Addresses..........................................................................................................................177 2 Responsibility Statement Deutsche Telekom AG ("Deutsche Telekom", the "Guarantor" or the "Company") with its registered office in Bonn and Deutsche Telekom International Finance B.V. ("Finance") with its registered office in Amsterdam (each an "Issuer" and together the "Issuers") are solely responsible for the information given in this Prospectus, provided that: Finance is not responsible for the description of Deutsche Telekom. Each Issuer hereby declares that, having taken all reasonable care to ensure that such is the case, the information contained in this Prospectus for which it is responsible is, to the best of its knowledge, in accordance with the facts and contains no omission likely to affect its import. 3 Notice This Prospectus should be read and construed in conjunction with any supplement thereto and with any document incorporated herein by reference (the "Reference Documents"). Full information on each Issuer and any tranche of Notes (as hereinafter defined) is only available on the basis of the Prospectus as supplemented, together with the Reference Documents and the relevant final terms (the "Final Terms"). Each Issuer has confirmed to the dealers set forth on the cover page and any additional dealer appointed from time to time under the Programme (each a "Dealer" and together the "Dealers") that this Prospectus contains all information with regard to the Issuers and the Notes which is material in the context of the Programme and the issue and offering of Notes thereunder; that the information contained herein with respect to the Issuers and the Notes is accurate in all material respects and is not misleading; that any opinions and intentions expressed herein are honestly held and based on reasonable assumptions; that there are no other facts, the omission of which would make any statement, whether fact or opinion, in this Prospectus misleading in any material respect; and that all reasonable enquiries have been made to ascertain all facts and to verify the accuracy of all statements contained herein. No person has been authorised to give any information which is not contained in or not consistent with this Prospectus or any
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