FINAL TERMS FOR NOTES
FINAL TERMS DATED 08 APRIL 2024
BNP Paribas Issuance B.V.
(incorporated in The Netherlands)
(as Issuer)
Legal entity identifier (LEI): 7245009UXRIGIRYOBR48
BNP Paribas
(incorporated in France)
(as Guarantor)
Legal entity identifier (LEI): R0MUWSFPU8MPRO8K5P83
Issue of EUR 1,000,000 Credit Linked Notes due July 2029
ISIN Code: XS2740808766
under the Note, Warrant and Certificate Programme
of BNP Paribas Issuance B.V., BNP Paribas and BNP Paribas Fortis Funding
The Base Prospectus received approval no. 23-195 on 31 May 2023
Any person making or intending to make an offer of the Securities may only do so in circumstances in which no obligation arises for the Issuer, the Guarantor or any Manager to publish a prospectus pursuant to either of Article 3 of the Prospectus Regulation or Section 85 of the FSMA or to supplement a prospectus pursuant to Article 23 of the Prospectus Regulation, in each case, in relation to such offer.
PART A - CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 31 May 2023, each Supplement to the Base Prospectus published and approved on or before the date of these Final Terms (copies of which are available as described below) and any other Supplement to the Base Prospectus which may have been published and approved before the issue of any additional amount of Securities (the "Supplements") (provided that to the extent any such Supplement (i) is published and approved after the date of these Final Terms and (ii) provides for any change to the Conditions of the Securities such changes shall have no effect with respect to the Conditions of the Securities to which these Final Terms relate) which together constitute a base prospectus for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") (the "Base Prospectus"). This document constitutes the Final Terms of the Securities described herein for the purposes of the Prospectus Regulation and must be read in conjunction with the Base Prospectus to obtain all the relevant information. A summary of the Securities is annexed to these Final Terms. The Base Prospectus, any Supplement(s) to the Base Prospectus and these
Final Terms are available for viewing at 1 rue Laffitte, 75009 Paris, France and www.amf-france.org and copies may be obtained free of charge at the specified offices of the Paying Agents.
1
References herein to numbered Conditions are to the terms and conditions of the relevant series of Securities and words and expressions defined in such terms and conditions shall bear the same meaning in these Final Terms in so far as they relate to such series of Securities, save as where otherwise expressly provided.
1. | Issuer: | BNP Paribas Issuance B.V. |
2. | Guarantor | BNP Paribas |
3. Trade Date, Series Number and Tranche Number:
(a) | Trade Date: | 25 March 2024 |
(b) | Series Number: | FINTE 15639 CI |
(c) | Tranche Number: | 1 |
4. Issue Date, Interest Commencement Date and Maturity Date:
(a) | Issue Date: | 08 | April 2024 |
(b) | Interest Commencement Date: | The Issue Date | |
(c) | Maturity Date: | 04 | July 2029 (the "Scheduled Maturity Date") |
Business Day Convention for Maturity Date:
Following
5. Aggregate Nominal Amount and Issue Price
- Aggregate Nominal Amount - EUR 1,000,000 Series:
- Aggregate Nominal Amount - EUR 1,000,000 Tranche:
(c) | Issue Price of Tranche: | 100.00 per cent. of the Aggregate Nominal Amount | ||
of the applicable Tranche | ||||
6. | Type of Securities: | (a) | Notes | |
(b) | Redemption/Payment Basis: | |||
Credit Linked Redemption | ||||
(c) | Interest Basis: | |||
6.60 per cent. Fixed Rate (see 46(b) below) | ||||
(d) | The provisions of Annex 12 (Additional | |||
Terms and Conditions for Credit Securities) | ||||
shall apply. |
2
-
Form of Securities: New Global Note
Talons for future Coupons or Receipts to be attached to definitive Notes (and dates on which such Talons mature):
Identification information of Holders as provided by Condition 1 in relation to French Law Securities: - Business Days/Payment Days:
- Additional Business Centre(s) (Condition 3.12)
- Financial Centre(s) or other special provisions relating to Payment Days for the purposes of Condition 4(a):
Unwind Costs: Not applicable
Tax Gross-up: Condition 6.3 (No Gross-up) applicable
Clearing System Global Note
No
No.
Not applicable
The applicable Additional Business Centres for the purpose of the definition of "Business Day" in Condition 3.12 are London and T2
London and a day upon which London and T2
9. Specified Denomination and Calculation Settlement will be by way of cash payment (Cash
Amount:Settlement: | Settled Securities) |
10. Specified Denomination and Calculation Amount:
(a) | Specified Denomination(s): | EUR 1,000 | |
(b) | Calculation Amount: | EUR 1,000 | |
11. | Variation of Settlement: | Not applicable |
12. Final and Early Redemption Amount:
(a) | Final Redemption Amount: | As per the Credit Security Conditions and paragraph | |
34 (Credit Securities) below | |||
(b) | Final Payout: | Not applicable | |
(c) | Early Redemption Amount: | Not applicable | |
13. | Relevant Asset(s): | Not applicable | |
14. | Entitlement: | Not applicable |
15. Exchange Rates:
3
(a) | Exchange Rate: | Not applicable | |||
(b) | Specified | Exchange | Not applicable | ||
Rate/Settlement | Currency | ||||
Exchange Rate: | |||||
16. | Specified | Currency and | Settlement | ||
Currency: | |||||
(a) | Specified Currency: | EUR as defined in the definition of "Relevant | |||
Currency" in Condition 13 (Definitions) | |||||
(b) | Settlement Currency: | EUR as defined in the definition of "Relevant | |||
Currency" in Condition 13 (Definitions) | |||||
17. | Syndication: | The Securities will be distributed on a non- | |||
syndicated basis. | |||||
18. | Minimum Trading Size: | EUR 1,000 | |||
19. | Principal Paying Agent: | BNP Paribas Financial Markets S.N.C. | |||
20. | Registrar: | Not applicable | |||
21. | Calculation Agent: | BNP Paribas Financial Markets S.N.C. | |||
22. | Governing law: | French law | |||
Name and address of the Representative: |
23. Masse provisions (Condition 18):
SELARL MCM AVOCAT Contact : rmo@avocat-mcm.com 10, rue de Sèze, 75009 Paris, France Tel: +33 1 53 43 36 00
Fax: +33 1 53 43 36 01
Name and address of the alternate Representative: | ||
Maître Philippe MAISONNEUVE | ||
Avocat | ||
10, rue de Sèze, 75009 Paris, France | ||
Tel: +33 1 53 43 36 00 | ||
Fax: +33 1 53 43 36 01 | ||
The Representative will receive a remuneration of | ||
EUR 275 | ||
per annum plus VAT | ||
PRODUCT SPECIFIC PROVISIONS FOR REDEMPTION | ||
24. | Hybrid Linked Redemption Notes: | Not applicable |
25. | Index Linked Redemption Notes: | Not applicable |
4 |
26. | Share Linked Redemption Notes/ETI Share | Not applicable | |||
Linked Redemption Notes: | |||||
27. | ETI Linked Redemption Notes: | Not applicable | |||
28. | Debt Linked Redemption Notes: | Not applicable | |||
29. | Commodity Linked Redemption Notes: | Not applicable | |||
30. | Inflation Index Linked Redemption Notes: | Not applicable | |||
31. | Currency Linked Redemption Notes: | Not applicable | |||
32. | Fund Linked Redemption Notes: | Not applicable | |||
33. | Futures Linked Redemption Notes: | Not applicable | |||
34. | Credit Securities: | Applicable | |||
(a) | Type of Credit Securities: | ||||
(i) | Single Reference | Entity | Not applicable | ||
Credit Securities: | |||||
(ii) | Nth-to-Default | Credit | Not applicable | ||
Securities: | |||||
(iii) | Basket Credit Securities: | Not applicable | |||
(iv) | Tranched Credit Securities: | Applicable | |||
Attachment Point: 2.4% | |||||
Exhaustion Point: 5.6% | |||||
Incurred Recoveries: Not applicable |
- Credit Linkage
(i) | Reference Entity(ies): | Index Credit Securities: |
Relevant Annex: | ||
iTraxx Europe Series 41 Version 1 | ||
Index RED Code: 2I666VDJ1 | ||
Roll Date: 20 March 2024 | ||
Annex Date: 15 March 2024 | ||
Index Sponsor: Markit Indices Limited, or any | ||
successor thereto | ||
(ii) | Transaction Type: | As specified in the Relevant Annex |
(iii) | Reference Entity Notional | As per the Credit Security Conditions |
Amount: | ||
5 |
(iv) | Reference Obligation(s): | Applicable | |
Standard | Reference | As specified in the Relevant Annex | |
Obligation: | |||
Seniority Level: | As specified in the Relevant Annex | ||
(v) | Credit Linked | Interest | Not applicable |
Only: | |||
(vi) | Credit-Linked | Principal | Not applicable |
Only: |
- Terms relating to Credit Event Settlement
(i) | Settlement Method: | Zero Recovery |
(ii) | Credit Unwind Costs: | Not applicable |
(iii) | Settlement at Maturity: | Not applicable |
(iv) | Settlement Currency: | EUR |
- Miscellaneous Credit Terms
(i) | Merger Event: | Not applicable | ||
(ii) | Credit | Event Backstop | The date that is 60 calendar days prior to the Trade | |
Date: | Date | |||
(iii) | Credit Observation | Period | Applicable: 20 June 2029 | |
End Date: | ||||
(iv) | CoCo Supplement: | Not applicable | ||
(v) | LPN Reference Entities: | Not applicable | ||
(vi) | NTCE Provisions: | As per the Transaction Type | ||
(vii) | Accrual | of Interest | upon | Accrual to: Interest Payment Date |
Credit Event: | ||||
(viii) | Interest | following | Not applicable | |
Scheduled Maturity: | ||||
(ix) | Hybrid Credit Securities: | Not applicable | ||
(x) | Bonus | Coupon | Credit | Not applicable |
Securities:
- Additional Credit Security Applicable Disruption Events:
Change in Law: Applicable
6
Hedging Disruption: Applicable | |||||
Increased Cost of Hedging: Applicable | |||||
Disruption redemption basis: Fair Market Value | |||||
(xii) | Change in Standard Terms | Applicable | |||
and Market Conventions: | |||||
(xiii) | Hedging Link Provisions: | Applicable | |||
(xiv) | Calculation and Settlement | Applicable | |||
Suspension: | |||||
(xv) | Additional | Credit | Not applicable | ||
Provisions: | |||||
35. | Underlying | Interest | Rate | Linked | Not applicable |
Redemption Notes: | |||||
36. | Partly Paid Notes: | The Securities are not Partly Paid Notes. | |||
37. | Instalment Notes: | Not applicable |
38. Illegality (Condition 10.1) and Force Illegality: redemption in accordance with Condition
Majeure (Condition 10.2): | 10.1(d) |
Force Majeure: redemption in accordance with | |
Condition 10.2(b) |
39. Additional, Optional Additional and CNY Payment Disruption Events:
Additional | Disruption | Events and | (a) | Additional | Disruption | Events: | Not | ||
Optional | Additional | Disruption | applicable | ||||||
Events: | (b) | The | following | Optional | Additional | ||||
Disruption Events apply to the Securities:
Administrator/Benchmark Event
(d) | Redemption: | ||
Delayed Redemption on Occurrence of an | |||
Additional Disruption Event and/or | |||
Optional Additional Disruption Event: Not | |||
applicable | |||
40. | Knock-in Event: | Not applicable | |
41. | Knock-out Event: | Not applicable |
7
ISSUER CALL OPTION, NOTEHOLDER PUT OPTION AND AUTOMATIC EARLY REDEMPTION
42. | Issuer Call Option: | Not applicable |
43. | Noteholder Put Option: | Not applicable |
44. | Automatic Early Redemption: | Not applicable |
GENERAL PROVISIONS FOR
VALUATION(S)
45. Strike Date, Strike Price, Averaging Date(s), Observation Period and Observation Date(s):
(a) | Strike Date: | Not applicable |
(b) | Averaging: | Not applicable |
(c) | Observation Dates: | Not applicable |
(d) | Observation Period: | Not applicable |
46. PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
- Interest:Applicable
Coupon Switch: Not applicable
(i) | Interest Period(s): | As set out in the Conditions |
- Interest Period End Date(s): 04 July in each year from and including 04 July 2024 to and including 04 July 2029
- Business Day Convention None for Interest Period End Date(s):
(iv) | Interest Payment Date(s): | 04 July in each year from and including 04 July 2024 |
to and including 04 July 2029 |
- Business Day Convention Following
for Interest Payment Date(s):
(vi) | Party | responsible | for | Not applicable | ||
calculating | the | Rate(s) | of | |||
Interest | and | Interest | ||||
Amount(s) | (if | not | the | |||
Calculation Agent): | ||||||
(vii) | Margin(s): | Not applicable | ||||
(viii) | Minimum Interest Rate: | As per the Conditions | ||||
8 |
(ix) | Maximum Interest Rate: | Not applicable | ||
(x) | Day Count Fraction: | 30/360, unadjusted | ||
(xi) | Determination Dates: | Not applicable | ||
(xii) | Accrual to Redemption: | Not applicable | ||
Accrual to Preceding IPED: Not applicable | ||||
(xiii) | Rate of Interest: | Fixed Rate | ||
(xiv) | Coupon Rate: | Not applicable | ||
(b) | Fixed Rate Provisions: | Applicable | ||
(i) | Fixed Rate of Interest: | 6.60 per cent. per annum | ||
(ii) | Fixed Coupon Amount: | Not applicable | ||
(iii) | Broken Amount: | Not applicable | ||
(c) | Floating Rate Provisions | Not applicable | ||
(d) | Zero Coupon Provisions: | Not applicable | ||
PRODUCT SPECIFIC PROVISIONS FOR LINKED INTEREST (IF APPLICABLE) | ||||
47. | Linked Interest Notes: | Not applicable | ||
DISTRIBUTION | ||||
48. | U.S. Selling Restrictions: | Reg. S Compliance Category 2; TEFRA D |
49. Additional U.S. Federal income tax The Securities are not Specified Securities for the
considerations: | purpose of Section 871(m) of the U.S. Internal | |
Revenue Code of 1986. | ||
50. | Non-exempt Offer: | Not applicable |
51. Prohibition of Sales to EEA and UK Investors:
- Prohibition of Sales to EEA Retail Not applicable Investors:
- Prohibition of Sales to Belgian Not applicable Consumers:
- Prohibition of Sales to UK Retail Not applicable Investors:
(iv) Prohibition of Sales to EEA Non Retail Not applicable Investors (where Securities are held in a
retail account):
9
(v) Prohibition of Sales to UK Non Retail Not applicable Investors (where Securities are held in a
retail account):
PROVISIONS RELATING TO COLLATERAL AND SECURITY
52. Secured Securities other than Nominal Not applicable Value Repack Securities:
53. | Nominal Value Repack Securities: | Not applicable |
54. | Actively Managed Securities: | Not applicable |
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in these Final Terms. To the best of the knowledge of the Issuer (who has taken all reasonable care to ensure that such is the case), the information contained herein is in accordance with the facts and does not omit anything likely to affect the import of such information.
Signed on behalf of the Issuer:
By:
Duly authorised
10
Pour lire la suite de ce noodl, vous pouvez consulter la version originale ici.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
BNP Paribas SA published this content on 19 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2024 08:37:06 UTC.