FINAL TERMS FOR NOTES
FINAL TERMS DATED AS OF 29 MAY 2024
(AND FOR LISTING PURPOSES ONLY, FINAL TERMS DATED 3 JUNE 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
EUR 30,000,000 Underlying Interest Rate-Linked Notes due 29 May 2034
ISIN Code:FR001400PFB4
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
BNP Paribas Arbitrage S.N.C.
(as Manager)
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" or the "Original 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 Original Base Prospectus to obtain all the relevant information and for listing purposes only, the Base Prospectus dated 30 May 2024. A summary of the Securities is annexed to these Final Terms.
The Original Base Prospectus and any Supplements to the Original Base Prospectus, the Base Prospectus dated 30 May 2024 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 Agent.
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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 | Trade Date, Series Number and Tranche Number: | |
Number: | |||
(a) | Trade Date: | 4 April 2024 | |
(b) | Series Number: | FINTE 15815 FR | |
(c) | Tranche Number: | 1 |
4. Issue Date, Interest Commencement Date and Maturity Date:
(a) | Issue Date: | 29 | May 2024 |
(b) | Interest Commencement Date: | The Issue Date | |
(c) | Maturity Date: | 29 | May 2034 (the "Scheduled Maturity Date") |
Business Day Convention for Maturity Date: Modified
Following
5. Aggregate Nominal Amount and Issue Price:
- Aggregate Nominal Amount - EUR 30,000,000 Series:
- Aggregate Nominal Amount - EUR 30,000,000 Tranche:
(c) | Issue Price of Tranche: | 100 | per cent. of the Aggregate Nominal Amount of the | |
applicable Tranche | ||||
6. | Type of Securities: | (a) | Notes | |
(b) | Redemption/Payment Basis: | |||
100 per cent. of nominal amount | ||||
(c) | Interest Basis: | |||
Underlying Interest Rate Linked Interest |
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(d) The provisions of Annex 11 (Additional Terms and Conditions for Underlying Interest Rate Securities) shall apply
7. | Form of Securities: | Dematerialised bearer form (au porteur) |
New Global Note: | No | |
Temporary Bearer Global Note exchangeable for a Permanent |
Bearer Global Note which is exchangeable for definitive
Bearer Notes only upon an Exchange Event.
- 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):
- Settlement:
- Specified Denomination and Calculation Amount:
- Specified Denomination(s):
- Calculation Amount:
- Variation of Settlement:
- Final and Early Redemption Amount:
The applicable Additional Business Centre for the purposes of the definition of "Business Day" in Condition 3.12 is a T2 Business Day only.
T2 System
Settlement will be by way of cash payment (Cash Settled Securities)
EUR 1,000
EUR 1,000
Not applicable
(a) | Final Redemption Amount: | Calculation Amount x 100 per cent. | |
(b) | Final Payout: | Not applicable | |
(c) | Early Redemption Amount: | Calculation Amount x 100 per cent. | |
13. | Relevant Asset(s): | Not applicable | |
14. | Entitlement: | Not applicable |
15. Exchange Rates:
(a) | Exchange Rate: | Not applicable |
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(b) | Specified | Exchange | Not applicable | |
Rate/Settlement | Currency | |||
Exchange Rate: | ||||
16. | Specified Currency and | Settlement | ||
Currency: | ||||
(a) | Specified Currency: | EUR | ||
(b) | Settlement Currency: | EUR | ||
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 | ||
22. | Governing law: | French law | ||
23. | Masse provisions (Condition 18): | 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 | ||||
PRODUCT SPECIFIC PROVISIONS FOR REDEMPTION | ||||
24. | Hybrid Linked Redemption Notes: | Not applicable | ||
25. | Index Linked Redemption Notes: | Not applicable | ||
26. | Share Linked Redemption Notes/ETI Share | Not applicable | ||
Linked Redemption Notes: | ||||
27. | ETI Linked Redemption Notes: | Not applicable | ||
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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: | Not applicable | |||
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 10.1(d)
Majeure (Condition 10.2): | Force Majeure: redemption in accordance with Condition |
10.2(b) |
39. Additional, Optional Additional and CNY Payment Disruption Events:
- 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
(b) | CNY Payment Disruption Event: | Not applicable: | |
40. | Knock-in Event: | Not applicable | |
41. | Knock-out Event: | Not applicable | |
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: | Applicable |
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(a) | Automatic | Early | Redemption | Standard Automatic Early Redemption: "less than or equal to" |
Event: | An Automatic Early Redemption Event will occur if the SPS | |||
AER Value 1 in respect of the AER Event 1 Underlying is less | ||||
than or equal to the Automatic Early Redemption Level 1 | ||||
(b) | Automatic | Early | Redemption | SPS Automatic Early Redemption Payout: |
Payout: | NA x (AER Redemption Percentage + AER Exit Rate) | |||
Where: | ||||
AER Exit Rate means AER Rate; | ||||
AER Rate means 0 per cent. | ||||
AER Redemption Percentage means 100% | ||||
NA means EUR 1,000 | ||||
(c) | Automatic | Early | Redemption | 29 May in each year from and including 29 May 2025 to and |
Date(s): | including 29 May 2033 | |||
(d) | Automatic Early Redemption Level | 2.40 per cent. | ||
(e) | Automatic | Early | Redemption | Not applicable |
Percentage: | ||||
(f) | AER Rate: | As defined in item 44(b) above | ||
(g) | AER Exit Rate: | As defined in item 44(b) above | ||
(h) | Automatic | Early | Redemption | Two (2) T2 Settlement Days prior to the relevant Automatic |
Valuation Date(s)/Period(s): | Early Redemption Date |
- Automatic Early Redemption Specified Time Valuation Time:
(j) | Observation Price Source: | Not applicable |
(k) | Underlying Reference Level: | Not applicable |
(l) | Underlying Reference Level 2: | Not applicable |
(m) | SPS AER Valuation: | Applicable: |
SPS AER Value 1: | ||
Underlying Reference Value | ||
(n) | AER Event 1 Underlying(s): | See item 35(b)(A)(a) above |
(o) | AER Event 2 Underlying(s): | Not applicable |
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(p) | AER Event 1 Basket: | Not applicable |
(q) | AER Event 2 Basket: | 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 |
Strike Price: Not applicable | ||
(b) | Averaging: | Averaging does not apply to the Securities. |
(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 defined in the Conditions | ||
(ii) | Interest | Period | End | 29 May in each year from and including 29 May 2025 to and |
Date(s): | including 29 May 2034 | |||
(iii) | Business Day Convention | Not applicable | ||
for Interest Period | End | |||
Date(s): | ||||
(iv) | Interest Payment Date(s): | 29 May in each year from and including 29 May 2025 to and | ||
including 29 May 2033 |
- Business Day Convention Following for Interest Payment
Date(s): - 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: | 0.00 per cent. per annum |
(ix) | Maximum Interest Rate: | Not applicable |
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(x) | Day Count Fraction: | Not applicable |
(xi) | Determination Dates: | Not applicable |
(xii) | Accrual to Redemption: | Not Applicable |
Accrual to Preceding IPED: Not Applicable | ||
(xiii) | Rate of Interest: | Linked Interest |
(xiv) | Coupon Rate: | Applicable |
Digital Coupon applicable | ||
Single Digital Coupon Condition is applicable | ||
(A) if the Digital Coupon Condition is satisfied in respect of | ||
SPS Coupon Valuation Date(i): | ||
Rate(i) | ||
(B) if the Digital Coupon Condition is not satisfied in respect | ||
of SPS Coupon Valuation Date(i), as applicable: | ||
zero | ||
Where: | ||
Barrier Level means 3.00 per cent. | ||
Digital Coupon Condition means that the DC Barrier Value | ||
for the relevant SPS Coupon Valuation Date is equal to or less | ||
than the Barrier Level. | ||
DC Barrier Value means Underlying Reference Value | ||
i means a number from 1 to 10 corresponding to the applicable | ||
SPS Valuation Date. | ||
Rate(i) means 6.25 per cent. | ||
SPS Coupon Valuation Date means Underlying Interest | ||
Determination Date | ||
SPS Valuation Date means SPS Coupon Valuation Date | ||
Underlying Reference means the Underlying Reference | ||
Rate. | ||
Underlying Reference Closing Price Value means, in | ||
respect of a SPS Valuation Date, the Underlying Reference | ||
Rate in respect of such day. | ||
Underlying Reference Strike Price means 1 | ||
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. | ||
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(b) | Fixed Rate Provisions: | 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: | Applicable | |||
(a) | Hybrid Linked Interest Notes: | Not applicable | |||
(b) | Index Linked Interest Provisions: | Not applicable | |||
(c) | Share Linked/ETI Share | Linked | Not applicable | ||
Interest Provisions: | |||||
(d) | ETI Linked Interest Provisions: | Not applicable | |||
(e) | Debt Linked Interest Provisions: | Not applicable | |||
(f) | Commodity | Linked | Interest | Not applicable | |
Provisions: |
- Inflation Index Linked Interest Not applicable Provisions:
(h) | Currency | Linked | Interest | Not applicable |
Provisions: | ||||
(i) | Fund Linked Interest Provisions: | Not applicable |
- Futures Linked Interest Provisions: Not applicable
- Underlying Interest Rate Linked Applicable Interest Provisions
(i) | Underlying | Interest | Two (2) T2 Settlement Days prior to the final day of the |
Determination Date(s): | relevant Interest Period |
- Manner in which the Screen Rate Determination Underlying Interest Rate
is to be determined:
(A) Screen Rate Applicable
Determination:
(a) Underlying | The EUR interest rate swap rate with a maturity of 10 years |
Reference | which appears on the Relevant Screen Page at the Specified |
Rate: | Time on the relevant Underlying Interest Determination Date |
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(b) | Specified | 11:00 am, Frankfurt time |
Time: | ||
(c) | Relevant | Reuters 'ICESWAP2' (or any successor page thereto) |
Screen Page: |
(B) | ISDA | Not applicable | ||
Determination | ||||
(iii) | Underlying Margin(s): | Not applicable | ||
(iv) | Minimum | Underlying | Not applicable | |
Reference Rate: | ||||
(v) | Maximum | Underlying | Not applicable | |
Reference Rate: |
DISTRIBUTION | ||
48. | U.S. Selling Restrictions: | TEFRA Not applicable |
49. | Non-exempt Offer: | Not applicable |
50. Prohibition of Sales to EEA and UK Investors:
(i) | Prohibition of Sales to EEA Retail | Not applicable | |
Investors: | |||
(ii) | Prohibition of Sales to Belgian | Not Applicable | |
Consumers: | |||
(iii) | Prohibition of Sales to UK Retail | Not applicable | |
Investors: | |||
(iv) | Prohibition of Sales to EEA Non | Not applicable | |
Retail Investors (where Securities | |||
are held in a retail account): | |||
(v) | Prohibition of Sales to UK Non | Not applicable | |
Retail Investors (where Securities | |||
are held in a retail account): | |||
PROVISIONS RELATING TO COLLATERAL AND SECURITY | |||
51. | Secured Securities other than Nominal Value | Not applicable | |
Repack Securities: | |||
52. | Nominal Value Repack Securities: | Not applicable | |
53. | Actively Managed Securities: | Not applicable | |
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BNP Paribas SA published this content on 11 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2024 08:20:06 UTC.