Bond CDP S.p.A. 2% ( IT0005482879 ) in EUR

CDP S.p.A.

100 % ⇌

Italy

IT0005482879 ( in EUR )

2% per year ( payment 1 time a year)

07/02/2037

Prospectus brochure of the bond CASSA DEPOSITI E PRESTITI S.P.A IT0005482879 en EUR 2%, maturity 07/02/2037

07/02/2026 ( In 273 days )

CDP (Cassa Depositi e Prestiti S.p.A.) is an Italian government-owned promotional bank that invests in infrastructure, sustainable development, and the Italian economy, managing long-term savings and providing financial services.

The Bond issued by CDP S.p.A. ( Italy ) , in EUR, with the ISIN code IT0005482879, pays a coupon of 2% per year.
The coupons are paid 1 time per year and the Bond maturity is 07/02/2037

PROHIBITION OF SALES TO EEA RETAIL INVESTORS The Notes are not intended to be
offered, sold or otherwise made available to and should not be offered, sold or otherwise made
available to any retail investor in the European Economic Area ("EEA"). For these purposes, a
retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of
Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a customer within the
meaning of Directive (EU) 2016/97 (the "Insurance Distribution Directive"), where that
customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID
II. Consequently no key information document required by Regulation (EU) No 1286/2014 (the
"PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail
investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise
making them available to any retail investor in the EEA may be unlawful under the PRIIPs
Regulation.
PROHIBITION OF SALES TO UK RETAIL INVESTORS The Notes are not intended to be
offered, sold or otherwise made available to and should not be offered, sold or otherwise made
available to any retail investor in the United Kingdom ("UK"). For these purposes, a retail investor
means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of
Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("EUWA"); (ii) a customer within the meaning of the provisions of the
FSMA and any rules or regulations made under the Financial Services and Markets Act 2000 (the
"FSMA") to implement Directive (EU) 2016/97, where that customer would not qualify as a
professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it
forms part of domestic law by virtue of the EUWA. Consequently no key information document
required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA
(the "UK PRIIPs Regulation") for offering or selling the Notes or otherwise making them available
to retail investors in the UK has been prepared and therefore offering or selling the Notes or
otherwise making them available to any retail investor in the UK may be unlawful under the UK
PRIIPs Regulation.
UK MIFIR product governance / Professional investors and ECPs only target market
Solely for the purposes of the manufacturer's product approval process, the target market
assessment in respect of the Notes has led to the conclusion that: (i) the target market for the
Notes is only eligible counterparties, as defined in the FCA Handbook Conduct of Business
Sourcebook ("COBS"), and professional clients, as defined in Regulation (EU) No 600/2014 as it
forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR");
and (ii) all channels for distribution of the Notes to eligible counterparties and professional clients
are appropriate.. Any person subsequently offering, selling or recommending the Notes (a
"distributor") should take into consideration the manufacturer's target market assessment;
however, a distributor subject to the FCA Handbook Product Intervention and Product
Governance Sourcebook (the "UK MiFIR Product Governance Rules") is responsible for
undertaking its own target market assessment in respect of the Notes (by either adopting or
refining the manufacturer's target market assessment) and determining appropriate distribution
channels.

Final Terms dated 3 February 2022

Cassa depositi e prestiti S.p.A.
Legal entity Identifier (LEI): 81560029E2CE4D14F425
Issue of Euro 70,000,000 Fixed to CMS Linked Interest Rate Notes due 7 February 2037
under the Euro 15,000,000,000 Debt Issuance Programme
PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Terms and
Conditions of the Notes (the "Conditions") set forth in the Base Prospectus dated 14 May 2021
and the supplements to the Base Prospectus dated 22 June 2021, 7 December 2021 and 25
January 2022 which together constitute a base prospectus for the purposes of Regulation (EU)
2017/1129 (as amended or superseded) (the "Prospectus Regulation"). This document
constitutes the Final Terms of the Notes described herein for the purposes of Article 8 of the
Prospectus Regulation and must be read in conjunction with such Base Prospectus as so
supplemented.
Full information on the Issuer and the Notes described herein is only available on the basis of a
combination of these Final Terms and the Base Prospectus as so supplemented. The Base
Prospectus and the Supplements to the Base Prospectus are available for viewing on the website
of CDP, www.cdp.it, as well as on the website of the Luxembourg Stock Exchange,
www.bourse.lu. Copies may be obtained from the Issuer during normal business hours at Via
Goito No. 4, 00185 Rome, Italy.

1.
(i)
Series Number:
30
(ii)
Tranche Number:
1
(iii)
Date on which the Notes Not Applicable
become fungible:
2.
Specified Currency or Currencies:
Euro ("EUR")
3.
Aggregate Nominal Amount of
Notes:
(i)
Series:
EUR 70,000,000

2

(ii)
Tranche:
EUR 70,000,000
4.
Issue Price:
100 per cent of the Aggregate Nominal Amount
5.
(i)
Specified Denominations:
EUR 100,000 plus integral multiples of EUR
100,000 in excess thereof
(ii)
Calculation Amount:
EUR 100,000
6.
(i)
Issue Date:
7 February 2022
(ii)
Interest Commencement Date
Issue Date
7.
Maturity Date:
7 February 2037
8.
Interest Basis:
Fixed Rate to CMS Linked Interest
(further particulars specified below)
(i) 2.00 per cent. Fixed Rate for the Interest
Periods comprised in the period commencing
on the Interest Commencement Date and
ending on, but excluding, 7 February 2024
("Fixed Rate Interest Period")
(and the payment of interest shall be subject to
the provisions set out in paragraph 12 below)
(ii) CMS Linked Interest Rate for the Interest
Periods comprised in the period commencing
on, and including, 7 February 2024 and ending
on, but excluding, the Maturity Date ("CMS
Linked Interest Period")
(and the payment of interest shall be subject to
the provisions set out in paragraph 13 below)
9.
Change of Interest:
Applicable. Specified under paragraphs 12 and
13 below
10.
Put/Call Options:
Not Applicable
11.
Partly Paid:
Not Applicable

3

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
12.
Fixed Rate Note Provisions
Applicable in respect of the Fixed Rate
Interest Period
(i)
Rate of Interest:
2.00 per cent. per annum payable quarterly in
arrear
(ii)
Interest Payment Dates:
7 February, 7 May, 7 August and 7 November
in each year from, and including, 7 May 2022
to, and including 7 February 2024, subject to
adjustment in accordance with the Business
Day Convention set out in paragraph (vii)
below
(iii)
Fixed Coupon Amount:
EUR 500 per Calculation Amount
(iv) Fixed Coupon Amount for a
Not Applicable
short or long Interest Period
("Broken Amount(s)"):
(v)
Day Count Fraction:
30/360, unadjusted
(vi) Determination Dates:
Not Applicable
(vii) Business Day Convention:
Following Business Day Convention
13.
Floating Rate Note Provisions
Applicable in respect of the CMS Linked
Interest Period
(i)
Specified
Interest
Payment 7 February, 7 May, 7 August and 7 November
Dates:
in each year from, and including,7 May 2024
to, and including, Maturity Date, subject to
adjustment in accordance with the Business
Day Convention set out in paragraph (ii) below.
(ii)
Business Day Convention:
Following Business Day Convention
(iii)
Additional Business Centre(s):
TARGET and London
(iv)
Manner in which the Rate(s) of Screen Rate Determination
Interest is/are to be determined:

4

(v)
Calculation Agent responsible BNP Paribas Securities Services
for calculating the Rate(s) of
Interest and Interest Amount(s):
(vi)
Screen Rate Determination:

Reference Rate:
CMS Reference Rate

Reference Currency: EUR

Designated Maturity: 20 years

Relevant Screen Page:
Reuters ICESWAP2

Interest Determination Date(s):
Second day on which the TARGET2 system is
open prior to the start of each Interest Period

Relevant Time:
11.00 a.m. Frankfurt time

Relevant Financial Centre:
Euro-zone

Cap:
Not Applicable

Floor:
Not Applicable

Leverage:
Not Applicable
(vii) ISDA Determination:
Not Applicable
(viii) Margin(s):
0.754 per cent per annum
(ix)
Minimum Rate of Interest:
0.00 per cent per annum
(x)
Maximum Rate of Interest:
4.00 per cent per annum
(xi)
Day Count Fraction:
30/360, unadjusted
14. Zero Coupon Note Provisions
Not Applicable
PROVISIONS RELATING TO REDEMPTION
15. Call Option
Not Applicable
16. Put Option
Not Applicable

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17.
Final Redemption Amount of each The principal amount of each Note, being EUR
Note
100,000 per Calculation Amount
18. Early Redemption Amount

Early Redemption Amount(s) of each As set out in the Conditions
Note payable on redemption for
taxation reasons or on event of default
or other early redemption:
GENERAL PROVISIONS APPLICABLE TO THE NOTES
19. Financial Centre(s):
TARGET and London
21.
Redenomination, renominalisation Not Applicable
and reconventioning provisions:
22.
Details relating to Partly Paid Notes Not Applicable
(amount of each payment comprising
the Issue Price and date on which each
payment
is
to
be
made
and
consequences (if any) of failure to pay,
including any right of the Issuer to
forfeit the Notes and interest due on
late payment):
23.
Representative of the Noteholders
BNP Paribas Securities Services
Signed on behalf of the Issuer:

Firmato digitalmente da: Lorenza Di Cintio
Data: 03/02/2022 14:22:50
By:
............................................
Name: Lorenza Di Cintio
Title: Debt Capital Markets
Duly authorised

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PART B OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING
(i)
Listing:
The Official List of Luxembourg Stock Exchange
(ii)
Admission to trading: Application has been made to be admitted to
trading on the Regulated Market of the
Luxembourg Stock Exchange with effect from
the Issue Date
(iii)
Estimate
of
total EUR 7550
expenses related to
admission to trading:
2.
RATINGS

The Notes to be issued have been rated:
Fitch Ratings Ireland Limited: BBB
S&P Global Ratings Europe Limited: BBB
Scope Ratings GmbH: BBB+
Each of Fitch Ratings Ireland Limited, S&P
Global Ratings Europe Limited and Scope
Ratings GmbH are established in the EEA and
registered
under
Regulation
(EC)
No.
1060/2009,
as
amended
(the
"CRA
Regulation"), and are included in the list of
registered credit rating agencies published on
the website of the European Securities and
Markets
Authority
at
https://www.esma.europa.eu/supervision/credit-
rating-agencies/risk
The rating Fitch Ratings Ireland Limited has
given to the Notes to be issued under the
Programme is endorsed by Fitch Ratings Ltd,
which is established in the UK and registered
under Regulation (EU) No 1060/2009 on credit
rating agencies as it forms part of domestic law
of the United Kingdom by virtue of the European

7

Union (Withdrawal) Act 2018 (the "UK CRA
Regulation").
The rating S&P Global Ratings Europe Limited
has given to the Notes to be issued under the
Programme is endorsed by S&P Global Ratings
UK Limited, which is established in the UK and
registered under the UK CRA Regulation.
The rating Scope Ratings GmbH has given to the
Notes to be issued under the Programme is
endorsed by Scope Ratings UK Ltd, which is
established in the UK and registered under the
UK CRA Regulation.
.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE
ISSUE
So far as the Issuer is aware, no person involved in the issue of the Notes has
an interest material to the offer. The Dealer and its affiliates (including, for the
avoidance of doubt, parent companies) have engaged, and may in the future
engage, in investment banking and/or commercial banking transactions with,
and may perform other services for, the Issuer and/or its affiliates in the ordinary
course of business.
4.
REASONS FOR THE OFFER AND ESTIMATED NET AMOUNT OF
PROCEEDS

(i)
Reasons for the offer
See "Use of Proceeds" in Base Prospectus

(ii)
Estimated
net 70,000,000
proceeds:
5.
YIELD (Fixed Rate Notes only)
Indication of yield:
Not Applicable
6.
HISTORIC INTEREST RATE (Floating Rate Notes only)
Details of historic CMS rates can be obtained from Reuters
7.
OPERATIONAL INFORMATION
ISIN Code:
IT0005482879

8

Common Code:
244279902
Any clearing system(s) other Not Applicable
than Monte Titoli, Euroclear
Bank
S.A./N.V.
and
Clearstream
Banking
Société Anonyme and the
relevant
identification
number(s) and addresses:
Delivery:
Delivery against payment
Names and addresses of Not Applicable
additional Paying Agent(s) (if
any):
8.
DISTRIBUTION
(i)
Method
of Non-syndicated
distribution:
(ii)
If syndicated, names Not Applicable
and
addresses
of
Dealers
and
underwriting
commitments:
(iii)
Date of Subscription 3 February 2022
Agreement:
(iv)
Stabilising
Not Applicable
Manager(s) (if any):
(v)
If
non-syndicated, Morgan Stanley & Co International plc
name and address of 25 Cabot Square
Dealer:
Canary Wharf
London E14 4QA
United Kingdom
(vi)
U.S.
Selling Reg. S Compliance Category 2; TEFRA Not
restriction:
Applicable
9.
CORPORATE AUTHORISATIONS

9

Date Board approval for 29 April 2021
issuance of Notes obtained:
10. BENCHMARK

(i)
Benchmarks
Applicable: Amounts payable under the Notes
Regulation:
are calculated by reference to the 20-Year CMS
Rate, which is provided by ICE Benchmark
Administration Limited

(ii)
Relevant Benchmark:
As at the date hereof ICE Benchmark
Administration Limited does not appear on the
register of administrators and benchmarks
established and maintained by the European
Securities and Markets Authority pursuant to
article 36 of the Benchmarks Regulation
(Regulation (EU) 2016/1011 (the "Benchmarks
Regulation"). As far as the Issuer is aware, the
transitional provisions in Article 51 of the
Benchmarks Regulation apply, such that ICE
Benchmark Administration Limited is not
currently
required
to
obtain
authorisation/registration (or, if located outside
the European Union or the United Kingdom,
recognition, endorsement or equivalence).

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