Obbligazione CaixaBank 4.75% ( ES0414970196 ) in EUR

CaixaBank

100 EUR ▼

Spagna

ES0414970196 ( in EUR )

4.75% per anno ( pagato 1 volta l'anno)

31/10/2018 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione Caixabank ES0414970196 in EUR 4.75%, scaduta

100 000 EUR

750 000 000 EUR

CaixaBank è una delle più grandi banche spagnole, risultante dalla fusione tra Caixa d'Estalvis i Pensions de Barcelona e Bankia.

The Obbligazione issued by CaixaBank ( Spain ) , in EUR, with the ISIN code ES0414970196, pays a coupon of 4.75% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 31/10/2018

LISTING PARTICULARS

CAIXA D'ESTALVIS I PENSIONS DE BARCELONA ("la Caixa")
(incorporated as a Savings Bank (Caja de Ahorros)
in the Kingdom of Spain)

EUR 1,000,000,000 4.75% Cédulas Hipotecarias due 2018 (the "Cédulas Hipotecarias")

comprising an initial tranche of
EUR 750,000,000 4.75% Cédulas Hipotecarias due 2018 (the "21st Cédulas Hipotecarias")
issued 31 October 2003 (the "Initial Settlement Date")
Issue Price: 99.532%
and a further tranche of
EUR 250,000,000 4.75% Cédulas Hipotecarias due 2018 (the "23rd Cédulas Hipotecarias")
issued 4 February 2004
(the "Further Settlement Date")
(the 23rd Cédulas Hipotecarias being fungible with the 21st Cédulas Hipotecarias)
Issue Price: 101.086%

The Cédulas Hipotecarias are listed on the AIAF Fixed Income Market (Mercado AIAF de
Renta Fija) (the "AIAF") and application has been made to list the Cédulas Hipotecarias on the
Luxembourg Stock Exchange.
The 21st Cédulas Hipotecarias have been bearing interest from 31 October 2003.

ABN AMRO BANK N.V.

Barclays Bank PLC
InverCaixa Valores, S.V., S.A.

Société Générale, Sucursal en España

3 March 2005

TABLE OF CONTENTS
Page
Important Notices..................................................................................................................... 3
Documents Incorporated by Reference ..................................................................................... 5
Description of the Cédulas Hipotecarias ................................................................................... 6
Use of Proceeds ....................................................................................................................... 9
Caixa d'Estalvis i Pensions de Barcelona ("la Caixa")............................................................. 10
Taxation................................................................................................................................. 30
Subscription and Sale of the 21st Cédulas Hipotecarias ........................................................... 33
Subscription and Sale of the 23rd Cédulas Hipotecarias........................................................... 34
Price Quotations of the 21st Cédulas Hipotecarias................................................................... 35
Price Quotations of the 23rd Cédulas Hipotecarias................................................................... 39
Legal and Regulatory Background.......................................................................................... 43
General Information............................................................................................................... 45
ANNEX 1 Subsidiaries .......................................................................................................... 46
ANNEX 2 Marketable Debt Securities ................................................................................... 49

- 2 -

IMPORTANT NOTICES
The Issuer has prepared the fol owing Spanish language documents in relation to the Cédulas
Hipotecarias: a folleto continuado, registered with the Comisión Nacional de Mercado de
Valores ("CNMV") on 8 April 2003; a programa de emisión de valores de renta fija simple
("Programa de Renta Fija") registered with the CNMV on 7 October 2003; an información
complementaria registered with the CNMV on 21 October 2003; and a comunicación dated
23 October 2003; an información complementaria reg istered with the CNMV on
27 January 2004; and a comunicación dated 28 January 2004, (together, the "Spanish
Prospectuses"). Copies of the Spanish Prospectuses may be obtained on request from the Issuer,
the Listing Agent or from the CNMV.
These Listing Particulars have been prepared for the purpose of the listing of the Cédulas
Hipotecarias on the Luxembourg Stock Exchange and contain a summary of certain sections of
the Spanish Prospectuses. The Issuer accepts responsibility for the information contained in this
document and to the best of the knowledge and belief of the Issuer (which has taken all
reasonable care to ensure that such is the case), the information contained in this document is in
accordance with the facts and does not omit anything likely to affect the import of such
information.
No representation or warranty is made or implied by the 21st Underwriters and Dealers (as
defined in "Subscription and Sale of the 21st Cédulas Hipotecarias"), or the 23rd Underwriters
and Dealers (as defined in "Subscription and Sale of the 23rd Cédulas Hipotecarias) (together,
the "Underwriters and Dealers") or any of their respective affiliates, and neither the
Underwriters and Dealers nor any of their respective affiliates makes any representation,
warranty or accepts any responsibility as to the accuracy or completeness of the information
contained in these Listing Particulars.
No person has been authorised to give any information or make any representation in
connection with the offering of the Cédulas Hipotecarias other than as contained in these Listing
Particulars and, if given or made, any such information or representation should not be relied
upon as having been authorised by the Issuer.
Neither the deliver of these Listing Particulars nor the offering, sale or delivery of any Cédula
Hipotecaria shall in any circumstances create any implication that there has been no adverse
change, or any event reasonably likely to involve any adverse change, in the condition (financial
or otherwise) of the Issuer since the date of these Listing Particulars.
These Listing Particulars do not constitute an offer of, or an invitation to subscribe for or
purchase, any Cédulas Hipotecarias.
The distribution of these Listing Particulars and the offering, sale and delivery of Cédulas
Hipotecarias in certain jurisdictions may be restricted by law. Persons into whose possession
these Listing Particulars come are required by the Issuer and the Underwriters and Dealers to
inform themselves about and to observe any such restrictions. For a description of certain
restrictions on offers, sales and deliveries of Cédulas Hipotecarias and on distribution of these
Listing Particulars and other offering material relating to the Cédulas Hipotecarias, see
"Subscription and Sale of the 21st Cédulas Hipotecarias" and "Subscription and Sale of the 23rd
Cédulas Hipotecarias".

- 3 -

In these Listing Particulars, unless otherwise specified, references to "EUR" or "Euro" are to the
single currency introduced at the start of the Third Stage of the European Economic and
Monetary Union pursuant to the Treaty establishing the European Community, as amended.

- 4 -

DOCUMENTS INCORPORATED BY REFERENCE
The fol owing documents shall be deemed to be incorporated in, and to form part of, these
Listing Particulars:
1.
the unconsolidated annual financial statements of the Issuer and the consolidated
financial statements of the Group for the years ended 31 December 2000, 2001, 2002,
2003;
2.
all amendments and supplements to these Listing Particulars prepared by the Issuer from
time to time.
The Issuer will, at the specified offices of the Luxembourg Paying Agent, provide, free of
charge, upon oral and written request, a copy of the Listing Particulars (and any document
incorporated by reference in these Listing Particulars).

- 5 -

DESCRIPTION OF THE CÉDULAS HIPOTECARIAS
1.
Form, Denomination and Status
(a)
Form and Denomination: The Cédulas Hipotecarias will be in book entry (registered)
form and in the denomination of EUR 100,000. The Issuer will not issue definitive notes
at any time.
(b) Status and Security. The principal and interest on the Cédulas Hipotecarias are secured
by a mortgage over al eligible mortgages registered from time to time in favour of the
Issuer, pursuant to Article 12 of Ley 2/1981, de 25 de marzo, del Mercado Hipotecario
(the "Mortgage Market Law"). Pursuant to Article 14 of the Mortgag e Market Law,
holders of Cédulas Hipotecarias are specially privileged creditors (acreedores
singularmente privilegiados) and wil rank in accordance with paragraph 3 of Article
1923 of the Civil Code (Código Civil) before any other creditors in relation to all eligible
mortgages registered in favour of the Issuer. However, it must be highlighted that from 1
September 2004, Law 22/2003 (Ley Concursal) dated 9 July 2003 ("Law 22/2003")
regulating all insolvency procedures in Spain shall enter into force. Law 22/2003 inserts
a new paragraph into said Article 14 pursuant to which in a situation of insolvency
(concurso), as defined in Law 22/2003, holders of Cédulas Hipotecarias shall be
recognised as having the benefit of privileged credits (créditos con privilegio especial)
(paragraph 1 of section 1 of Article 90 of Law 22/2003). (See "Legal and Regulatory
Background" for further information).
2.
Register and Transfers
(a)
Register: The Sociedad de Gestión de los Sistemas de Registro, Compensación y
Liquidación de Valores, S.A. ("IBERCLEAR") will maintain the accounting register
relating to the book entries of the Cédulas Hipotecarias. Al entries and transfers in
favour of holders wil be made in accordance with the applicable rules established by
IBERCLEAR.
(b) Transfers: The 21st Cédulas Hipotecarias and the 23rd Cédulas Hipotecarias are freely
transferable and have been accepted for clearance (31 October 2003 and 4 February 2004
respectively) through Euroclear and Clearstream, Luxembourg.
3.
Issue Price and Nominal Amount
(a)
21st Cédulas Hipotecarias: The issue price is 99.532% of the nominal amount. The
nominal amount is Euros 750,000,000.
(b) 23rd Cédulas Hipotecarias: The issue price is 101.086% of the nominal amount. The
nominal amount is Euros 250,000,000 plus accrued interest since 31 October 2003.
4.
Interest
The 21st Cédulas Hipotecarias bear interest from the Initial Settlement Date at the rate of
4.75% per annum (the "Interest Rate").
The amount of interest payable shall be calculated in accordance with the following
formula:

- 6 -

C = N * i * d
36,500
where:
C = gross coupon amount
N = nominal amount
d = number of days elapsed
i = Interest Rate
except that in the case of a leap year, the denominator will be 36,600, that is, in each year
the actual number of days elapsed wil be counted. For such purpose, the denominator
36,600 will be applied to that part of the period of interest accrual which corresponds to a
leap year, such that, if the interest period does not coincide with a non-leap year, the
denominator will be: (a) with respect to the number of days elapsed in a non-leap year,
36,500 and (b) with respect to the number of days elapsed in a leap year, 36,600.
Interest wil be payable annual y on each anniversary of the Initial Set lement Date
during the tenor of the Cédulas Hipotecarias, up to and including the due date for
redemption of the Cédulas Hipotecarias (the maturity date) being 31st October 2018. The
first coupon in respect of the Cédulas Hipotecarias in relation to the period from (and
including) 31 October 2003 to (but excluding) 31 October 2004 was paid on 31 October
2004 and the amount of interest payable under the first coupon was settled on the basis
of a full annual payment.
If the relevant interest payment date is not a business day, the interest payment wil be
made on the next succeeding business day and no additional interest will be payable as a
result of such delay.
As used herein, "business day" means such days as are determined by the European
Central Bank for the operation of the Target System (Trans-European Automated Real-
Time Gross-Settlement Express Transfer System), other than a Saturday, Sunday or a
day which is not a business day in Madrid.
5.
Redemption
(a)
Redemption Price: The Cédulas Hipotecarias wil be redeemed at par on 31 October
2018, being the 15th anniversary of the Initial Set lement Date. If an early redemption of
the Cédulas Hipotecarias occurs (as described in sub-paragraph (b) below) by reducing
the nominal amount of the Cédulas Hipotecarias and by pre-paying the corresponding
nominal reduction to the holders, the Cédulas Hipotecarias will be finally redeemed at
the nominal amount which remains following such reduction.
(b) Early Redemption: Neither the Issuer nor the holders may redeem the Cédulas
Hipotecarias early except in the circumstances permitted by law, as described below.
In accordance with Article 59 of Real Decreto 685/1982 de 17 de marzo as amended by
Real Decreto 1289/1991 de 2 de agosto the amount of Cédulas Hipotecarias issued by

- 7 -

the Issuer and which remain outstanding may not exceed 90% of a computation base
made up of the sum of all un-repaid eligible mortgage loans of the Issuer. If such ratio is
exceeded, the Issuer must re-establish the ratio using any of the methods permitted under
Article 60 of Real Decreto 685/1982 de 17 de marzo as amended by Real Decreto
1289/1991 de 2 de agosto including the redemption of Cédulas Hipotecarias by such
amount as is necessary to re-establish the ratio. If this method is elected by the Issuer,
the Issuer shall carry out the redemption by reducing the nominal amount of each Cédula
Hipotecaria pro-rata and by re-paying such corresponding reduction to the holders. If a
partial early redemption of the Cédulas Hipotecarias occurs, the Issuer shall immediately
notify the CNMV and holders by publishing the same in a newspaper having general
circulation in Spain. In addition, so long as the Cédulas Hipotecarias are listed on the
Luxembourg Stock Exchange and the rules of that Exchange so require, the Issuer shall
immediately notify the Luxembourg Stock Exchange and notices to holders will also be
published in a daily newspaper of general circulation in Luxembourg (which is expected
to be the Luxemburger Wört) or, if such publication is not practicable, in a leading
English language daily newspaper having general circulation in Europe.
6.
Payments
Payments of interest and principal on redemption will be made in accordance with the
rules and common practices of the AIAF and, accordingly, such payments shall be
channel ed through the participant entities of IBERCLEAR with which subscribers of the
Cédulas Hipotecarias maintain their accounts. Payments shall be made in Euro.
7.
Notices
Any notices to holders will be: (a) published in a newspaper having general circulation in
Spain; and (b) published in a daily newspaper of general circulation in Luxembourg
(which is expected to be the Luxemburger Wört) or, if such publication is not
practicable, in a leading English language daily newspaper having general circulation in
Europe. The Issuer shall notify the CNMV and the Luxembourg Stock Exchange of any
notices to holders and of the content of such notices.
8.
Prescription
Claims for principal and interest shall become void unless the relevant Cédulas
Hipotecarias are presented for payment within three years of the date of their redemption.

9.
Governing Law and Jurisdiction
The Cédulas Hipotecarias are governed by Spanish law. The courts of Barcelona
(Juzgados y Tribunales de la ciudad de Barcelona) shal have jurisdiction to settle any
dispute arising from or connected with the Cédulas Hipotecarias.

- 8 -

USE OF PROCEEDS
The net proceeds of the issue of the 21st Cédulas Hipotecarias and the 23rd Cédulas Hipotecarias,
amounting to a minimum of Euro 748,090,000 and Euro 248,900,000 respectively after
deduction of the cost of registering the Cédulas Hipotecarias in IBERCLEAR and the CNMV,
the cost of listing on the AIAF and the Luxembourg Stock Exchange, the combined
management and underwriting commission, notary costs, the cost of obtaining a rating from
Moody's, prorata costs for the production of the Programa de Renta Fija and other formalisation
costs, shall be used by the Group for its general corporate and financial purposes.

- 9 -

CAIXA D'ESTALVIS I PENSIONS DE BARCELONA ("la Caixa")

Introduction
Caixa d'Estalvis i Pensions de Barcelona ("la Caixa") carries out its operations under the laws of
the Kingdom of Spain, and is regulated and controlled by the Bank of Spain. "la Caixa" was
established on July 27, 1990 by the merger of Caja de Ahorros y Monte de Piedad de Barcelona,
founded in 1844, with Caja de Pensiones para la Vejez y de Ahorros de Cataluña y Baleares,
founded in 1904.
The institution is registered with number 1 in the Register of Catalan Savings Banks of the
Financial Policy Branch of the Department of Economy and Finance of the Generalitat of
Catalonia and in the Mercantile Register of Barcelona with number 3003 (volume 20397, folio
1, sheet n.B-5614). It is also registered with number 2100 in the Bank of Spain's Special
Register of General Savings Banks.
The "la Caixa" Group is the third largest Spanish banking group in terms of total assets. As of
December 31, 2003, consolidated total assets amounted to Euro 116,107 million (132,036
million as of September 30, 2004) and income after tax attributable to the Group reached Euro
840 billion. During the first nine months of 2004, the "la Caixa" Group obtained an attributed
income of 766 million euros, up by 16.5% from 2003.
Unlike banks, savings banks have no capital stock and, by the same token, no shareholders.
Pursuant to Bank of Spain regulations, "la Caixa" allocates its net surplus to set up reserves, in
order to provide greater security for the funds managed, and to fund its Community Projects.
Encouraging savings and investment are, along with community projects, the essential purpose
of "la Caixa", whose basic aims include most notably the funding and maintenance of social,
welfare and cultural activities.
Computable equity of the "la Caixa" Group, obtained by applying current international
regulations, totalled Euro 11,539 million as of December 31, 2003 and represent a BIS capital
ratio of 13.3%, an estimated surplus of Euro 4,584 mil ion. Primary, or Tier 1 capital, totalled
Euro 7,566 mil ion representing 8.7% of risk-weighted assets, and core capital represented
5.3%.
Business
The "la Caixa" Group's Banking Business is based on a multi-channel management strategy
which, in a culture of innovation, allows for the effective use of the most advanced technologies
and employee training in order to offer a personalized advice service to customers, thus
establishing a quality-based relationship that represents a differentiating factor. This service
commitment is achieved, among other ways, through greater physical proximity to customer,
using the traditional branch arrangement as the basis for this relationship and complementing it
with other services. The Group therefore continued with its selective plan to expand the number
of branches outside Catalonia and the Balearic Islands (the expansion zone) during 2003, a plan
which began more than ten years ago and which is reaching its conclusion. As of September 30,
2004 the "la Caixa" Group had more than 9.1 mil ion customers and a distribution network of

- 10 -