FINAL TERMS FOR CERTIFICATES
FINAL TERMS DATED AS OF 16 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 5,110,000 Underlying Interest Rate Linked Interest Securities due 16 April 2029
under the Certificate, 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.
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.
1
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 3 1May 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 15858 CI |
Tranche Number: | 1 |
Number of Securities issued: | 5,110 |
Number of Securities: | 5,110 |
ISIN: | XS2741429448 |
Common Code: | 274142944 |
Issue Price per Security: | 100.00% of the Notional Amount |
Redemption Date: | 16 April 2029 |
Relevant Jurisdiction: | Not applicable |
Share Amount/Debt Security Amount: | Not applicable |
Specified Securities pursuant to Section | No |
871(m): |
GENERAL PROVISIONS
The following terms apply to each series of Securities:
2
1. | Issuer: | BNP Paribas Issuance B.V. | ||||
2. | Guarantor: | BNP Paribas | ||||
3. | Trade Date: | 26 March 2024 | ||||
4. | Issue Date and Interest Commencement | 16 April 2024 | ||||
Date: | ||||||
5. | Consolidation: | Not applicable | ||||
6. | Type of Securities: | (a) | Certificates | |||
(b) | The Securities are Underlying | |||||
Interest Rate Linked Interest | ||||||
Securities. | ||||||
The provisions of Annex 11 (Additional Terms | ||||||
and Conditions for Underlying Interest Rate | ||||||
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 days upon which the T2 | ||||||
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 | |
SPS Payouts | Vanilla Digital Securities | |
(A) if a Knock-in Event has occurred: | ||
Constant Percentage 1 + Bonus Coupon; or |
(B) if no Knock-in Event has occurred: Constant Percentage 2.
where:
3
Bonus Coupon means 30%;
Constant Percentage 1 means 100%;
Constant Percentage 2 means 100%;
Knock-in Determination Day means the Redemption Valuation Date;
- Knock-inEvent Value is less than Level;
shall occur if the Knock-in or equal to the Knock-in
Knock-in Level means 2.40%; | ||
Knock-in Valuation Time is Not applicable; | ||
Knock-inValue means the level of the | ||
Underlying Reference Value on the Knock-in | ||
Determination Day; | ||
Reference Strike Price means 1; | ||
SPS Valuation Date means the Knock-in | ||
Determination Day; | ||
Underlying Reference Closing Price Value | ||
means in respect of a SPS Valuation Date, the | ||
Underlying Reference Rate in respect of such | ||
day; and | ||
Underlying Reference Value means, in | ||
respect of an Underlying Reference and a SPS | ||
Valuation Date, (i) the Underlying Reference | ||
Closing Price Value for such Underlying | ||
Reference in respect of such SPS Valuation | ||
Date (ii) divided by the relevant Underlying | ||
Reference Strike Price. | ||
Payout Switch: | Not applicable | |
Aggregation: | Not applicable | |
13. | Relevant Asset(s): | Not applicable |
14. | Entitlement: | Not applicable |
15. | Exchange Rate / Conversion Rate: | Not applicable. |
16. | Settlement Currency: | The settlement currency for the payment of the |
Cash Settlement Amount is Euro ("EUR"). |
4
17. | Syndication: | The Securities will be distributed on a non- |
syndicated basis. | ||
18. | Minimum Trading Size: | EUR 100,000 |
19. | Principal Security Agent: | BNP Paribas Arbitrage S.N.C. |
20. | Registrar: | Not applicable |
21. | Calculation Agent: | BNP Paribas |
10 Harewood Avenue, London NW1 6AA
- Governing law:
- Masse provisions (Condition 9.4):
PRODUCT SPECIFIC PROVISIONS
- Hybrid Securities:
- Index Securities:
- Share Securities:
- ETI Securities
- Debt Securities:
- Commodity Securities:
- Inflation Index Securities:
- Currency Securities:
- Fund Securities:
- Futures Securities:
- Credit Security Provisions:
- Underlying Interest Rate Securities:
- Underlying Interest Determination Date(s):
- Manner in which the Underlying Interest Rate is to be determined:
English law
Not applicable
Not applicable
Not applicable
Not applicable
Not applicable
Not applicable
Not applicable
Not applicable
Not applicable
Not applicable
Not applicable
Not applicable
Applicable.
Two (2) T2 Settlement Days prior to the final day of the relevant Interest Period
Screen Rate Determination
(A) Screen Rate Determination: | Applicable | |
(a) | Underlying Reference | The EUR interest rate swap rate with a maturity |
Rate: | of 10 years which appears on the Relevant | |
Screen Page at the Specified Time on the |
5
relevant Underlying Interest Determination | ||
Date | ||
(b) | Specified Time: | 11:00 am, Frankfurt time |
- Relevant Screen Page: Reuters 'ICESWAP2' (or any successor page thereto)
(B) ISDA Determination | Not applicable | |
(c) Underlying Margin(s): | Not applicable | |
(d) Minimum Underlying Reference Rate: | Not applicable | |
(e) Maximum Underlying Reference Rate: | 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 Condition 7.1(d)
7.2):
Force Majeure: redemption in accordance with Security Condition 7.2(b)
39. Additional Disruption Events and
Optional Additional Disruption Events:
- Additional Disruption Events: Applicable
-
The following Optional Additional Disruption Events apply to the Securities:
Administrator/Benchmark Event - 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: | Not applicable |
(d) | Fixed Rate Provisions: | Not applicable |
(i) Fixed Rate of Interest: | Not applicable |
6
(ii) Fixed Coupon Amount: | Not applicable | |||
(e) | Floating Rate Provisions: | Not applicable | ||
(f) | Linked Interest Certificates: | Not applicable | ||
(g) | Payment | of | Premium | Not applicable |
Amount(s): | ||||
(h) | Index | Linked | Not applicable | |
[Interest/Premium | Amount] | |||
Certificates: | ||||
(i) | Share | Linked | Not applicable | |
[Interest/Premium | Amount] | |||
Certificates: | ||||
(j) | ETI Linked [Interest/Premium | Not applicable | ||
Amount] Certificates: | ||||
(k) | Debt | Linked | Not applicable | |
[Interest/Premium | 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: | ||||
(o) | Fund | Linked | Not applicable | |
[Interest/Premium | Amount] | |||
Certificates: | ||||
(p) | Futures | Linked | Not applicable | |
[Interest/Premium | Amount] | |||
Certificates: | ||||
(q) | Underlying | Interest Rate | Not applicable | |
Linked Interest Provisions: | ||||
(r) | Instalment Certificates: | The Certificates are not Instalment Certificates | ||
(s) | Issuer Call Option: | Not applicable | ||
(t) | Holder Put Option: | Not applicable | ||
7 |
(u) | Automatic Early Redemption: | Applicable | ||
(i) | Automatic | Early | Single Standard Automatic Early Redemption | |
Redemption Event: | SPS AER Valuation: Applicable = | |||
An Automatic Early Redemption Event will occur if | ||||
the SPS AER Value less than or equal to the Automatic | ||||
Early Redemption Level, as specified in the applicable | ||||
Final Terms | ||||
Where: | ||||
Automatic Early Redemption Level means 2.40%; | ||||
Reference Strike Price means 1; | ||||
SPS AER Value means the Underlying Reference | ||||
Value; | ||||
SPS Valuation Date means the applicable Automatic | ||||
Early Redemption Valuation Date; | ||||
Underlying Reference Closing Price Value means in | ||||
respect of a SPS Valuation Date, the Underlying | ||||
Reference Rate in respect of such day; and | ||||
Underlying Reference Value means, in respect of an | ||||
Underlying Reference and a SPS Valuation Date, (i) | ||||
the Underlying Reference Closing Price Value for such | ||||
Underlying Reference in respect of such SPS | ||||
Valuation Date (ii) divided by the relevant Underlying | ||||
Reference Strike Price. | ||||
(ii) | Automatic | Early | SPS AER Valuation: Applicable | |
Redemption Payout: |
NA x (AER Redemption Percentage + AER Exit
Rate)
Where:
AER Exit Rate means AER Rate;
AER Rate means n x 6%
AER Redemption Percentage means 100%
8
n means the number corresponding to the applicable Automatic Early Redemption Date in the table below.
NA means EUR 1,000 | ||||||
(iii) | Automatic | Early | ||||
Redemption Date(s): | n | Automatic | Automatic | |||
Early | Early | |||||
Redemption | Redemption | |||||
Valuation | Date | |||||
Date | ||||||
1 | 14 April 2025 | 16 April 2025 | ||||
2 | 14 April 2026 | 16 April 2026 | ||||
3 | 14 April 2027 | 16 April 2027 | ||||
4 | 12 April 2028 | 18 April 2028 | ||||
(iv) | Observation | Price | Not applicable | |||
Source: | ||||||
(v) | Underlying | Reference | Not applicable | |||
Level: | ||||||
(vi) | Automatic | Early | Not applicable | |||
Redemption Level: | ||||||
(vii) | Automatic | Early | Not applicable: | |||
Redemption Percentage: | ||||||
(viii) | AER Exit Rate: | Applicable | ||||
(ix) | Automatic | Early | ||||
Redemption | Valuation | n | Automatic | Automatic | ||
Date(s)/Period(s): | ||||||
Early | Early | |||||
Redemption | Redemption | |||||
Valuation | Date | |||||
Date | ||||||
1 | 14 April 2025 | 16 April 2025 | ||||
2 | 14 April 2026 | 16 April 2026 | ||||
3 | 14 April 2027 | 16 April 2027 | ||||
4 | 12 April 2028 | 18 April 2028 | ||||
(v) | Strike Date: | Not applicable | ||||
9 |
(w) | Strike Price: | Not applicable |
(x) | Redemption Valuation Date: | 12 April 2029 |
(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: |
- Identification information of Not applicable Holders as provided by Condition
29:
DISTRIBUTION AND US SALES ELIGIBILITY
43. | U.S. Selling Restrictions: | Not applicable |
44. 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 | ||
45. | Registered broker/dealer: | Not applicable |
46. | TEFRA C or TEFRA Not Applicable: | TEFRA Not Applicable |
47. | Non-exempt Offer: | Not applicable |
48. Prohibition of Sales to EEA and UK Investors:
(a) | Prohibition of Sales to EEA Retail Not applicable |
Investors: |
- Prohibition of Sales to Belgian Not applicable Consumers:
(c) | Prohibition of Sales to UK Retail | Not applicable |
Investors: | ||
(d) | Prohibition of Saes to EEA Non | Not applicable |
Retial Investors: |
- Prohibition of Sales to Belgian Not applicable Consumers Non Retail Investors:
PROVISIONS RELATING TO COLLATERAL AND SECURITY
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 26 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2024 08:21:09 UTC.