FINAL TERMS FOR CERTIFICATES
FINAL TERMS DATED 09 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 30,000,000 Credit Linked Certificates due January 2029
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. 23-197 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.
None of the Issuer, the Guarantor or any Manager has authorised, nor do they authorise, the making of any offer of Securities in any other circumstances.
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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 constitutes 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 and any Supplements to the Base Prospectus and these
Final Terms are available for viewing at https://rates- globalmarkets.bnpparibas.com/gm/Public/LegalDocs.aspx and copies may be obtained free of charge at the specified offices of the Security Agents.
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.
These Final Terms relate to the series of Securities as set out in "Specific Provisions for each Series" below. References herein to "Securities" shall be deemed to be references to the relevant Securities that are the subject of these Final Terms and references to "Security" shall be construed accordingly.
SPECIFIC PROVISIONS FOR EACH SERIES
Series Number: | FICRT 14573 AP |
Tranche Number: | 1 |
Number of Securities issued: | 30,000 |
Number of Securities: | 30,000 |
ISIN: | FR001400N9Z6 |
Common Code: | 275157961 |
Issue Price per Security: | 100.00 per cent. of the Notional Amount |
Redemption Date: | 08 January 2029 |
Relevant Jurisdiction: | Not applicable |
Share Amount/Debt Security Amount: | Not applicable |
Specified Securities pursuant to Section | No |
871(m): |
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GENERAL PROVISIONS
The following terms apply to each series of Securities:
1. | Issuer: | BNP Paribas Issuance B.V. | ||||
2. | Guarantor: | BNP Paribas | ||||
3. | Trade Date: | 09 January 2024 | ||||
4. | Issue Date and Interest Commencement | 09 April 2024 | ||||
Date: | ||||||
5. | Consolidation: | Not applicable | ||||
6. | Type of Securities: | (a) | Certificates | |||
(b) | The Securities are Credit Securities. | |||||
The provisions of Annex 12 (Additional Terms and | ||||||
Conditions for Credit Securities) shall apply. | ||||||
7. | Form of Securities: | Clearing System Global Security | ||||
8. | Business Day Centre(s): | The applicable Business Day Centres for the purposes | ||||
of the definition of "Business Day" in Condition 1 are | ||||||
London and a day upon which the TARGET2 System | ||||||
is open | ||||||
9. | Settlement: | Settlement will be by way of cash payment (Cash | ||||
Settled Securities). | ||||||
10. | Rounding | Convention | for | Cash | Not applicable | |
Settlement Amount: |
11. Variation of Settlement:
Issuer's option to vary settlement: | The Issuer does not have the option to vary settlement | |
in respect of the Securities. | ||
12. | Final Payout | Not applicable |
Payout Switch: | Not applicable | |
Aggregation: | Not applicable | |
13. | Relevant Asset(s): | Not applicable |
14. | Entitlement: | Not applicable |
15. | Exchange Rate / Conversion Rate: | Not applicable. |
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- Settlement Currency:
- Syndication:
- Minimum Trading Size:
- Principal Security Agent:
- Registrar:
- Calculation Agent:
- Governing law:
- Masse provisions (Condition 9.4):
PRODUCT SPECIFIC PROVISIONS
- Hybrid Securities:
- Index Securities:
- Share Securities:
- ETI Securities
- Debt Securities:
- Commodity Securities:
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The settlement currency for the payment of the Cash Settlement Amount is Euro ("EUR")
The Securities will be distributed on a non-syndicated basis.
EUR 1,000
BNP Paribas Financial Markets S.N.C.
Not applicable
BNP Paribas
10 Harewood Avenue, London NW1 6AA
French law
Full masse
Name and address of the Representative:
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
Not applicable
Not applicable
Not applicable
Not applicable
Not applicable
Not applicable
30. | Inflation Index Securities: | Not applicable | |||
31. | Currency Securities: | Not applicable | |||
32. | Fund Securities: | Not applicable | |||
33. | Futures Securities: | Not applicable | |||
34. | Credit Security Provisions: | 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 | Applicable |
Securities:
Attachment Point: 2.4%
Exhaustion Point: 6.4%
Incurred Recoveries: Not applicable
- Credit Linkage:
(i) | Reference Entity(ies): | Index Credit Securities: |
Relevant Annex: | ||
iTraxx Europe Series 40 Version 1 | ||
Index RED Code: 2I666VDI3; | ||
Roll Date: 20 September 2023; | ||
Annex Date: 15 September 2023. | ||
Index Sponsor: Markit Indices Limited, or any | ||
successor thereto | ||
(ii) | Transaction Type: | As specified in the Relevant Annex |
(iii) | Reference Entity Notional | As specified in the Relevant Annex |
Amount/Reference Entity | ||
Weighting: |
- Reference Obligation(s): Applicable
Standard | Reference As specified in the Relevant Annex |
Obligation: | |
5 |
- Credit Linked Interest Applicable Only:
- Credit-LinkedPrincipal Not applicable Only:
- Terms relating to Credit Event Settlement
(i) | Settlement Method: | Zero Recovery |
(ii) | Credit Unwind Costs | Not applicable |
(iii) | Settlement at Maturity: | Applicable |
(iv) | Settlement Currency | EUR |
- Miscellaneous Credit Terms
(i) | Merger Event: | Not applicable |
- Credit Event Backstop 09 April 2024 Date:
(iii) | Credit Observation Period | Applicable: 20 December 2028 | |
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 Redemption: |
- Hybrid Credit Securities: Not applicable
- Bonus Coupon Credit Not applicable Securities:
(xi) | Additional | Credit | Applicable |
Security | Disruption | Change in Law: Applicable | |
Events: | |||
Hedging Disruption: Applicable | |||
Increased Cost of Hedging: Applicable | |||
Disruption redemption basis: Fair Market Value |
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(xii) | Change | in | Standard | Applicable |
Terms | and | Market | ||
Conventions: | ||||
(xiii) | Hedging Link Provisions: | Applicable | ||
(xiv) | Calculation | and | Applicable | |
Settlement Suspension: | ||||
(xv) | Additional | Credit | Not applicable | |
Provisions: |
35. | Underlying Interest Rate Securities: | Not applicable |
36. | Preference Share Certificates: | Not applicable |
37. | OET Certificates: | Not applicable |
38. Illegality (Security Condition 7.1) and Illegality: redemption in accordance with Security
Force Majeure (Security Condition 7.2): | Condition 7.1(d) | ||
Force Majeure: redemption in accordance with | |||
Security Condition 7.2(b) | |||
39. | Additional Disruption Events and | (a) | Additional Disruption Events: Not |
Optional Additional Disruption Events: | applicable | ||
(b) | The following Optional Additional | ||
Disruption Events apply to the | |||
Securities: | |||
Administrator/Benchmark Event | |||
(c) | 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 |
42. EXERCISE, VALUATION AND REDEMPTION
- Notional Amount of each EUR 1,000 Certificate:
(b) | Partly Paid Certificates: | The Certificates are not Partly Paid Certificates |
(c) | Interest: | Applicable |
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Coupon Switch:Not applicable | ||
(i) | Interest Period(s): | As specified in the Conditions |
(ii) Interest Period End Date(s): | 08 January in each year from and including 08 January | |
2025 to and including 08 January 2029 |
- Business Day Convention for None Interest Period End Date(s):
(iv) Interest Payment Date(s): | 08 January in each year from and including 08 January |
2025 to and including 08 January 2029 |
- Business Day Convention for Following Interest Payment Date(s):
(vi) Party responsible for calculating | Calculation Agent | |
the Rate(s) of Interest Amount(s) | ||
(if not the Calculation Agent): | ||
(vii) | Margin(s): | Not applicable |
(viii) Minimum Interest Rate: | As per the Conditions | |
(ix) | Maximum Interest Rate: | Not applicable |
(x) | Day Count Fraction: | 30/360, unadjusted |
(xi) | Determination Dates: | Not applicable |
(xii) | Accrual to Redemption: | Not applicable |
(xiii) | Rate of Interest: | Fixed Rate |
(xiv) | Coupon Rate: | Not applicable |
(d) | Fixed Rate Provisions: | Applicable |
(i) Fixed Rate of Interest: | 5.70 per cent. per annum | |
(ii) Fixed Coupon Amount: | Not applicable | |
(e) | Floating Rate Provisions: | Not applicable |
(f) | Linked Interest Certificates: | Not applicable |
- Payment of Premium Amount(s): Not applicable
(h) | Index Linked | [Interest/Premium | Not applicable |
Amount] Certificates: | |||
(i) | Share Linked | [Interest/Premium | Not applicable |
Amount] Certificates: |
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- ETI Linked [Interest/Premium Not applicable Amount] Certificates:
- Debt Linked [Interest/Premium Not applicable Amount] Certificates:
(l) | Commodity | Linked | Not applicable |
[Interest/Premium | Amount] | ||
Certificates: | |||
(m) | Inflation | Linked | Not applicable |
[Interest/Premium | Amount] | ||
Certificates: | |||
(n) | Currency | Linked | Not applicable |
[Interest/Premium | Amount] | ||
Certificates: |
- Fund Linked [Interest/Premium Not applicable Amount] Certificates:
(p) | Futures Linked [Interest/Premium | Not applicable |
Amount] Certificates: | ||
(q) | Underlying Interest Rate Linked | Not applicable |
Interest Provisions: | ||
(r) | Instalment Certificates: | The Certificates are not Instalment Certificates |
(s) | Issuer Call Option: | Not applicable |
(t) | Holder Put Option: | Not applicable |
(u) | Automatic Early Redemption: | Not applicable |
(v) | Strike Date: | Not applicable |
(w) | Strike Price: | Not applicable |
(x) | Redemption Valuation Date: | Not applicable |
(y) | Averaging: | Not applicable |
(z) | Observation Dates: | Not applicable |
(aa) | Observation Period: | Not applicable |
(bb) | Settlement Business Day: | Not applicable |
(cc) | Cut-off Date: | Not applicable |
(dd) | Security Threshold on the Issue | Not applicable |
Date: | ||
9 |
-
Identification information of Not applicable Holders as provided by Condition
29:
DISTRIBUTION AND US SALES ELIGIBILITY
- U.S. Selling Restrictions:
- Additional U.S. Federal income tax considerations:
- Registered broker/dealer:
- TEFRA C or TEFRA Not Applicable:
- Non-exemptOffer:
- Prohibition of Sales to EEA and UK Retail Investors:
Not applicable
The Securities are not Specified Securities for the purpose of Section 871(m) of the U.S. Internal Revenue Code of 1986
Not applicable
TEFRA Not Applicable
Not applicable
(a) | Selling Restriction: | Not applicable |
(b) | Legend: | Not applicable |
PROVISIONS RELATING TO COLLATERAL AND SECURITY
49. Secured Securities other than Notional Not applicable Value Repack Securities:
50. | Notional Value Repack Securities: | Not applicable |
51. | 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 BNP Paribas Issuance B.V.
As Issuer:
By:
Duly authorised
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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 08:33:05 UTC.