Obbligazione Caisse Nationale du Financement Local 0.375% ( FR0013482189 ) in EUR

Caisse Nationale du Financement Local

100 EUR ⇌

Francia

FR0013482189 ( in EUR )

0.375% per anno ( pagato 1 volta l'anno)

13/02/2040

Prospetto opuscolo dell'obbligazione Caisse Française de Financement Local FR0013482189 en EUR 0.375%, scadenza 13/02/2040

13/02/2026 ( In 216 giorni )

La Caisse Française de Financement Local (CFFL) è un istituto finanziario pubblico francese che finanzia le collettività territoriali locali.

Le titolo obbligazionario con codice ISIN FR0013482189, emesso dalla Caisse Française de Financement Local in Francia, quota attualmente al 100% del valore nominale in EUR, offrendo un tasso di interesse dello 0,375% con scadenza il 13/02/2040 e pagamento cedolare annuale.

PRIIPS REGULATION - PROHIBITION OF SALES TO EEA AND UK RETAIL INVESTORS - The Obligations
Foncières 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") or in the United Kingdom (the "UK"). 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
2016/97/EU of the European Parliament and of the Council dated 20 January 2016 on insurance distribution, where that
customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a
qualified investor as defined in Regulation (EU) 2017/1129 of the European Parliament and of the Council dated 14 June
2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated
market, as amended (the "Prospectus Regulation"). Consequently, no key information document required by Regulation
(EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Obligations Foncières or
otherwise making them available to retail investors in the EEA or in the UK has been prepared and therefore offering or
selling the Obligations Foncières or otherwise making them available to any retail investor in the EEA or in the UK may
be unlawful under the PRIIPs Regulation.
MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ELIGIBLE COUNTERPARTIES
ONLY TARGET MARKET Solely for the purposes of the manufacturers' product approval process, the target market
assessment in respect of the Obligations Foncières, taking into account the five (5) categories referred to in item 18 of
the Guidelines published by ESMA on 5 February 2018, has led to the conclusion that: (i) the target market for the
Obligations Foncières is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all
channels for distribution of the Obligations Foncières to eligible counterparties and professional clients are appropriate.
Any person subsequently offering, selling or recommending the Obligations Foncières (a "distributor") should take into
consideration the manufacturers' target market assessment; however, a distributor subject to MiFID II is responsible for
undertaking its own target market assessment in respect of the Obligations Foncières (by either adopting or refining the
manufacturers' target market assessment) and determining appropriate distribution channels.

Final Terms dated 21 January 2021

CAISSE FRANÇAISE DE FINANCEMENT LOCAL
(the "Issuer")
Legal entity identifier (LEI): 549300E6W08778I4OW85

Issue of Euro 250,000,000 0.375 per cent. Obligations Foncières due 13 February 2040 (the "Obligations
Foncières")
to be assimilated (assimilées) and form a single series with the existing Euro 750,000,000 0.375 per cent.
Obligations Foncières due 13 February 2040 issued on 13 February 2020

under the
Euro 75,000,000,000
Euro Medium Term Note Programme
for the issue of Obligations Foncières
Due from one month from the date of the original issue

SERIES NO: 2020-2
TRANCHE NO: 2

Issue Price: 105.129 per cent. of the Aggregate Nominal Amount of the Tranche plus an amount corresponding to
accrued interest at a rate of 0.355532787 per cent. of such Aggregate Nominal Amount for the period from, and
including, 13 February 2020 to, but excluding, the Issue Date

Manager
J.P. MORGAN

PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions (the "Conditions")
which are the 2019 EMTN Conditions which are incorporated by reference in the base prospectus dated 12 June 2020
which received approval number 20-253 from the Autorité des marchés financiers (the "AMF") on 12 June 2020, as
supplemented by the supplements to the base prospectus dated 11 September 2020 which received approval number 20-
452 from the AMF on 11 September 2020, 6 October 2020 which received approval number 20-494 from the AMF on 6
October 2020 and 6 November 2020 which received approval number 20-540 from the AMF on 6 November 2020
(together the "Base Prospectus") which together constitutes a base prospectus for the purposes of Article 8.4 of the
Prospectus Regulation
This document constitutes the final terms (the "Final Terms") of the Obligations Foncières for the purposes of Article 8.4
of the Prospectus Regulation and must be read in conjunction with the Base Prospectus in order to obtain all the relevant
information, save in respect of section "Terms and Conditions of the Obligations Foncières" which is replaced by the
2019 EMTN Conditions. The Base Prospectus and these Final Terms are available for viewing free of charge on the
website of the AMF (www.amf-france.org) and on the website of the Issuer (www.caffil.fr).

1
Issuer:
Caisse Française de Financement Local
2
(i)
Series Number:
2020-2

(ii)
Tranche Number:
2

(iii)
Date on which the Obligations Foncières
The Obligations Foncières will be assimilated
become fungible:
(assimilées) and form a single series with the
existing Euro 750,000,000 0.375 per cent.
Obligations Foncières due 13 February 2040
issued by the Issuer on 13 February 2020 (the
"Existing Obligations Foncières") as from the
Issue Date of this Tranche.
3
Specified Currency:
Euro ("")
4
Aggregate Nominal Amount:

(i)
Series:
1,000,000,000

(ii)
Tranche:
250,000,000
5
Issue Price:
105.129 per cent. of the Aggregate Nominal
Amount of the Tranches plus an amount
corresponding to accrued interest at a rate of
0.355532787 per cent. of such Aggregate
Nominal Amount for the period from, and
including, 13 February 2020 to, but excluding,
the Issue Date.
6
Specified Denomination:
100,000
7
(i)
Issue Date:
25 January 2021

(ii)
Interest Commencement Date:
13 February 2020
8
Maturity Date:
13 February 2040
9
Interest Basis:
0.375 per cent. per annum Fixed Rate
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(further particulars specified below)
10
Redemption Basis:
Subject to any purchase and cancellation or
early redemption, the Obligations Foncières
will be redeemed on the Maturity Date at
100 per cent. of their nominal amount.
11
Change of Interest Basis:
Not Applicable
12
Call Options:
Not Applicable
13
Obligations Foncières
(i) Status of the Obligations Foncières:

Decision of the Directoire of Caisse Française
(ii) Date of the corporate authorisation for issuance of
Obligations Foncières obtained:
de Financement Local dated 8 January 2021

PROVISIONS RELATING TO INTEREST (IF ANY)
PAYABLE
14
Fixed Rate Obligation Foncière Provisions
Applicable

(i)
Rate of Interest:
0.375 per cent. per annum payable annually in
arrear

(ii)
Interest Payment Date(s):
13 February in each year commencing on
13 February 2021, not adjusted

(iii)
Fixed Coupon Amount:
375 per Specified Denomination

(iv)
Broken Amount(s):
Not Applicable

(v)
Day Count Fraction (Condition 5(a)):
Actual / Actual ICMA

(vi)
Determination Dates (Condition 5(a)):
13 February in each year

(vii)
Business Day Convention:
Not Applicable

(viii)
Business Centre(s):
Not Applicable
15
Floating Rate Obligation Foncière Provisions
Not Applicable
16
Zero Coupon Obligation Foncière Provisions
Not Applicable
17
Inflation Linked Interest Obligation Foncière
Not Applicable
Provisions
18
Index Formula
Not Applicable
19
Underlying Formula
Not Applicable
20
CPI Formula
Not Applicable
21
HICP Formula
Not Applicable

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PROVISIONS RELATING TO REDEMPTION

22
Call Option
Not Applicable
23
Final Redemption Amount of each Obligation
100,000 per Obligation Foncière of 100,000
Foncière
Specified Denomination

Inflation Linked Obligations Foncières Provisions
Not Applicable
relating to the Final Redemption Amount:
24
Early Redemption Amount

Early redemption for taxation reasons:
Not Applicable

Inflation Linked Obligations Foncières Provisions
Not Applicable
relating to the Early Redemption Amount:

GENERAL PROVISIONS APPLICABLE TO THE OBLIGATIONS FONCIÈRES
25
Form of Obligations Foncières:
Dematerialised Obligations Foncières

(i) Form of Dematerialised Obligations Foncières:
Bearer dematerialised form (au porteur)

(ii) Registration Agent:
Not Applicable

(iii) Temporary Global Certificate:
Not Applicable

(iv) Applicable TEFRA exemption:
TEFRA not applicable
26
Financial Centre(s) (Condition 7(h)) or other special
TARGET
provisions relating to Payment Dates:

(i)
Adjusted Payment Date (Condition 7(h)):
As per Condition 7(h)
27
Talons for future Coupons to be attached to definitive
Not Applicable
Materialised Obligations Foncières (and dates on which
such Talons mature):
28
Redenomination, renominalisation and reconventioning
Not Applicable
provisions:
29
Consolidation provisions:
Not Applicable
30
Representation of holders of Obligations Foncières

Masse (Condition 10)
Name and address of the Representative:

MASSQUOTE S.A.S.U.
RCS 529 065 880 Nanterre
7bis, rue de Neuilly
F-92110 Clichy
France

Mailing address:
33, rue Anna Jacquin
92100 Boulogne Billancourt
France
Represented by its Chairman

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The Representative will receive a remuneration
of 400 (VAT excluded) per year.

PURPOSE OF FINAL TERMS
These Final Terms comprise the final terms required for issue and admission to trading on the regulated markets of
Euronext Paris and of the Luxembourg Stock Exchange of the Obligations Foncières described herein pursuant to the
Euro 75,000,000,000 Euro Medium Term Note Programme of Caisse Française de Financement Local.

RESPONSIBILITY
The Issuer accepts responsibility for the information contained in these Final Terms.
Signed on behalf of the Issuer:
Duly represented by:
Herdile
Guerin
2021.01.21
16:50:01
+01'00'
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PART B OTHER INFORMATION

1
ADMISSION TO TRADING
(i) Listing:
Euronext Paris and the Luxembourg Stock Exchange
(ii) Admission to trading:
Application has been made by the Issuer (or on its behalf) for the Obligations
Foncières to be listed and admitted to trading on the regulated markets of
Euronext Paris and of the Luxembourg Stock Exchange with effect from the
Issue Date.
(iii) Regulated Markets or
The Existing Obligations Foncièrs are already listed and admitted to trading
equivalent markets on
on the regulated markets of Euronext Paris and of the Luxembourg Stock
which, to the knowledge Exchange.
of the Issuer, securities

of the same class of the
Obligations Foncières to
be admitted to trading
are already admitted to
trading:
(iv) Estimate
of
total 14,600
expenses related to
admission to trading:
(v) Additional publication of Website of the regulated market of the Luxembourg Stock Exchange
Base Prospectus and (www.bourse.lu)
Final Terms
2
RATINGS AND EURO EQUIVALENT
Ratings:
Applicable
Obligations Foncières to be issued under the Programme are expected to be
rated:
S&P: AA+
Moody's: Aaa
DBRS: AAA
Each of S&P, Moody's and DBRS is established in the European Union and is
registered under Regulation (EU) No 1060/2009 (as amended) (the "CRA
Regulation"). Each of S&P, Moody's and DBRS is included in the list of credit
rating agencies published by the European Security and Markets Authority on
its
website
(https://www.esma.europa.eu/supervision/credit-rating-
agencies/risk).
Euro equivalent:
Not Applicable
3
SPECIFIC CONTROLLER
The specific controller (contrôleur spécifique) of the Issuer has delivered a certificate relating to the borrowing
programme for the current quarter certifying that the value of the assets of the Issuer will be greater than the value
of its liabilities benefiting from thePrivilège with respect to such quarterly borrowing programme.
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4 NOTIFICATION
The Autorité des marchés financiers in France has provided the Commission de surveillance du secteur financier
with a certificate of approval attesting that the Base Prospectus has been drawn up in accordance with the
Prospectus Regulation.
5 INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save as discussed in the section "Subscription and Sale" of the Base Prospectus so far as the Issuer is aware, no
person involved in the offer of Obligations Foncières has an interest material to the offer.
6 USE OF PROCEEDS AND ESTIMATED TOTAL EXPENSES
(i) Use of proceeds:
The net proceeds will be used for the Issuer's general corporate purposes.
(ii) Estimated net proceeds

263,711,331.97 which includes accrued interest of 888,831.97
(iii) Estimated total expenses: 14,600
7
YIELD
Indication of yield:
0.103 per cent. per annum of the Aggregate Nominal Amount of the Tranche
Calculated as per the ICMA method, which determines the effective interest
rate of the Obligations Foncières taking into account accrued interest on a daily
basis on the Issue Date.
As set out above, the yield is calculated at the Issue Date on the basis of the
Issue Price. It is not an indication of future yield.
8
DISTRIBUTION

(i)
Method of distribution:
Non-Syndicated

(ii) If syndicated:
Not Applicable

(A) Names of Managers:

(B) Stabilising Manager(s) if any:
Not Applicable

(iii) If non-syndicated, name of Manager:
J.P. Morgan AG

(iv) US Selling Restrictions (Categories of
Reg. S Compliance Category 1 applies to the Obligations
potential investors to which the Obligations
Foncières; TEFRA not applicable
Foncières are offered):
9
OPERATIONAL INFORMATION
ISIN:
FR0013482189
Common Code:
211485736
Depositaries:

(i)
Euroclear France to act as Central Depositary: Yes
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(ii)
Common Depositary for Euroclear Bank No
SA/NV and Clearstream:
Any clearing system(s) other than Euroclear and
Clearstream and the relevant identification Not Applicable
number(s):
Delivery:
Delivery against payment
Name and address of the Calculation Agent:
Not Applicable
Name and addresse of initial Paying Agent:
Banque Internationale à Luxembourg, société anonyme
69, route d'Esch
L-2953 Luxembourg
Grand-Duchy of Luxembourg
Names and addresses of additional Paying Agent(s) Not Applicable
(if any):

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