Obbligazione Banque Fédérale du Crédit Mutuel 0% ( XS0188637820 ) in EUR

Emittente Banque Fédérale du Crédit Mutuel
Prezzo di mercato 100 EUR  ⇌ 
Paese  Francia
Codice isin  XS0188637820 ( in EUR )
Tasso d'interesse 0%
Scadenza 24/03/2014 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Banque Federative du Credit Mutuel XS0188637820 in EUR 0%, scaduta


Importo minimo 50 000 EUR
Importo totale 350 000 000 EUR
Descrizione dettagliata La Banque Fédérative du Crédit Mutuel è l'istituzione centrale del gruppo Crédit Mutuel, responsabile della gestione delle attività comuni e della supervisione delle banche locali.

The Obbligazione issued by Banque Fédérale du Crédit Mutuel ( France ) , in EUR, with the ISIN code XS0188637820, pays a coupon of 0% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 24/03/2014







PRICING SUPPLEMENT





BANQUE FEDERATIVE DU CREDIT MUTUEL
Euro 15,000,000,000
Euro Medium Term Notes
Due from 7 days from the original date of issue

Series No: 62
Tranche No: 4
Euro 50,000,000
Floating Rate Notes due 24 March 2014
(to be consolidated, form a single issue with and increase the aggregate principal amount of
EUR 150,000,000 Floating Rate Notes due 24 March 2014, issued on 24 March 2004 and
EUR 50,000,000 Floating Rate Notes due 24 March 2014, issued on 05 April 2004 and
EUR 50,000,000 Floating Rate Notes due 24 March 2014, issued on 15 June 2004)

Issue Price: 100 per cent.
Plus accrued interest of EUR 245,205.56 on the Principal Amount of Tranche No 4
for the period from 24 June 2004 (inclusive) to 8 September 2004 (exclusive) (76 days)
Net Proceeds: EUR 50,202,705.56



DZ BANK AG




The date of this Pricing Supplement is 6 September 2004.
1



This Pricing Supplement, under which the Notes described herein (the "Notes") are issued, is
supplemental to, and should be read in conjunction with, the offering circular (the "Offering
Circular") dated 5 July 2004 issued in relation to the Euro 15,000,000,000 Euro Medium
Term Note Programme of Banque Fédérative du Crédit Mutuel save in respect of the
Conditions (the "Conditions") which are extracted from the Offering Circular dated 18 July
2003 and are attached hereto. Terms used herein shall be deemed to be defined as such for
the purposes of the Conditions set forth in the Offering Circular dated 5 July 2004. The Issuer
accepts responsibility for the information contained in this Pricing Supplement which, when
read together with the Offering Circular, contains all information that is material in the context
of the issue of the Notes.
This Pricing Supplement does not constitute, and may not be used for the purposes of, an
offer of or invitation by or on behalf of anyone to subscribe or purchase any of the Notes.
There has been no significant change in the financial or trading position of the Issuer or of the
Group since 31 December 2003 and no material adverse change in the financial position or
prospects of the Issuer or of the Group since 31 December 2003.

Signed: ____________________
Director/Duly Authorised Signatory

2



The terms of the Notes and additional provisions relating to their issue are as follows:
Provisions appearing on the face of the Notes
1
Series No:
62
2
Tranche No:
4
3
ISIN:
XS0188637820
4
Currency:
Euro ("EUR")
5
Principal Amount of Tranche:
EUR 50,000,000 to be
consolidated and form a single
Series with the Issuer`s existing
EUR 150,000,000 Floating Rate
Notes (Series 62, Tranche No.
1 issued on 24 March 2004)
and EUR 50,000,000 Floating
Rate Notes (Series 62, Tranche
No. 2 issued on 05 April 2004)
and EUR 50,000,000 Floating
Rate Notes (Series 62, Tranche
No. 3 issued on 15 June 2004)
6
Issue Date:
8 September 2004
Provisions appearing on the back of the Notes

7
Form:
Bearer
8
Denomination(s):
EUR 50,000
9
Status:
Unsubordinated
10
Interest Commencement Date (other than Zero Coupon
24 June 2004
Notes):
11
Interest Rate (including after Maturity Date):
3-months-EURIBOR plus 0.20
per cent. per annum
12
Interest Payment Date(s):
24 June, 24 September, 24
December and 24 March in

each year
13
Relevant Time (Floating Rate Notes):
11:00 a.m. Brussels time
14
Interest Determination Date (Floating Rate Notes):
Two TARGET Business Days
prior to the first day in each
Interest Period
15
Primary Source for Floating Rate (Floating Rate Notes):
Screen Rate Determination
(Moneyline Telerate Page 248)
16
Reference Banks (Floating Rate Notes - if Primary Source is
Not Applicable
"Reference Banks"):
17
Relevant Financial Centre (Floating Rate Notes):
Euro-zone
3


18
Benchmark (Floating Rate Notes):
3-months-EURIBOR
19
Representative Amount (Floating Rate Notes):
Not Applicable
20
Relevant Currency (Floating Rate Notes):
EUR
21
Effective Date (Floating Rate Notes):
First day of each relevant
Interest Accrual Period
22
Specified Duration (Floating Rate Notes):
3-months
23
Margin (if applicable):
Plus 0.20 per cent. per annum
24
Rate Multiplier (if applicable):
Not Applicable
25
Maximum/Minimum Interest Rate (if applicable):
Not Applicable
26
Maximum/Minimum Instalment Amount (if applicable):
Not Applicable
27
Maximum/Minimum Redemption Amount (if applicable):
Not Applicable
28
Interest Amount (Floating Rate Notes):
3-month-EURIBOR + 0.20 per
cent. per annum per Specified
Denomination x the Day Count
Fraction
29
Day Count Fraction:
Actual/360
30
Determination Date(s) (Condition 4(h)):
Not Applicable
31
Redemption Amount (including early redemption):
Principal Amount
32
Maturity Date:
24 March 2014, subject to
adjustment in accordance with


the Modified Following
Business Day Convention for
which the Business Days are
TARGET Business Days
33
Redemption for Taxation Reasons permitted on days other
No
than Interest Payment Dates:
34
Amortisation Yield (Zero Coupon Notes):
Not Applicable
35
Terms of redemption at the option of the Issuer or description
Not Applicable
of any other Issuer's option (if applicable):
36
Issuer's Option Period (if applicable):
Not Applicable
37
Terms of redemption at the option of the Noteholders or
Not Applicable
description of any other Noteholders' option (if applicable):
38
Noteholders' Option Period (if applicable):
Not Applicable
39
Instalment Date(s) (if applicable):
Not Applicable
40
Instalment Amount(s) (if applicable):
Not Applicable
41
Unmatured Coupons to become void upon early redemption:
Yes
4


42
Talons to be attached to Notes and, if applicable, the number
No
of Interest Payment Dates between the maturity of each
Talon (if applicable):
43
Business Day Jurisdictions for Condition 6(g) (jurisdictions
TARGET Business Days
required to be open for payment):
44
Additional steps that may only be taken following approval by
Not Applicable
an Extraordinary Resolution in accordance with Condition
10(a) (if applicable):
45
Details of any other additions or variations to the Conditions
The country of incorporation of
(if applicable):
the Issuer is France. The Notes
will be deemed to be issued
outside of France and therefore
payments under the Notes will
benefit from deduction of tax at
source.
46
Rating of the Notes:
Moody's: Aa3
Fitch Ratings: AA -
47
The Agents appointed in respect of the Notes are:
Fiscal Agent, Principal Paying
Agent, Luxembourg Listing
Agent and Calculation Agent:
BNP Paribas Securities
Services, Luxembourg Branch
23 avenue de la Porte Neuve
L-2085 Luxembourg
Provisions applicable to Global Notes

48
Notes to be represented on issue by:
Permanent Global Note
49
Applicable TEFRA exemption:
C Rules
50
Temporary Global Note exchangeable for Definitive Notes:
No
51
Permanent Global Note exchangeable for Definitive Notes at
No
the request of the holder:
Provisions relating only to the sale and listing of the Notes


5


52
Details of any additions or variations to the selling
FRANCE:
restrictions:
Each Dealer and the Issuer has
acknowledged that the Notes
are being issued outside the
Republic of France
Each Dealer and the Issuer has
represented and agreed that (i)
it has not offered or sold and
will not offer or sell, directly or
indirectly, any Notes to the
public in the Republic of France
and (ii) offers and sales of
Notes in the Republic of France
will be made in accordance with
Articles L.411-1 and L.411-2 of
the French Code monétaire et
financier and the Decree No.
98-880 dated 1 October 1998
relating to offers to qualified
investors (investisseurs
qualifiés)
In addition, each Dealer and the
Issuer has represented and
agreed that it has not
distributed or caused to be
distributed and will not
distribute or cause to be
distributed in the Republic of
France, the Offering Circular,
the Pricing Supplement or any
other offering material relating
to the Notes other than to those
investors to whom offers and
sales of the Notes in the
Republic of France may be
made as described above.
53
Listing:
Application has been made to
list the Notes on the
Luxembourg Stock Exchange
54
Issue Price:
100 per cent. of the aggregate
principal amount plus accrued
interest of EUR 245,205.56 on
the Principal Amount of Tranche
No. 4 from and including 24
June 2004 to but excluding the
Issue Date (76 days)
55
Dealer's Commission:
Not Applicable
6


56
Method of issue of Notes:
Individual Dealer
57
The following Dealer(s) is subscribing the Notes:
DZ BANK AG Deutsche
Zentral-Genossenschaftsbank,
Frankfurt am Main
58
Common Code:
18863782
59
Details of any additions or variations to the Dealer
Not Applicable
Agreement:
60
In the case of Notes listed on the Paris Stock Exchange:
Not Applicable
(a)
the number of Notes to be issued in each denomination:
Not Applicable
(b) Paying
Agent
in
France:
Not Applicable
(c)
(i) address in Paris where documents to be made available
Not Applicable
for inspection may be inspected:

(ii) list of such documents for inspection:
Not Applicable
(d) Specialist
Broker:
Not Applicable
61
The aggregate principal amount of Notes issued has been
Not Applicable
translated into euro at the rate of , producing a sum of (for
Notes not denominated in euro):
62
Additional Information
Not Applicable











7


TERMS AND CONDITIONS OF THE NOTES
The following is the text of the terms and conditions that, subject to completion and amendment and as
supplemented or varied in accordance with the provisions of the relevant Pricing Supplement, shall be
applicable to the Notes in definitive form (if any) issued in exchange for the Global Note(s) representing
each Series. Either (i) the full text of these terms and conditions together with the relevant provisions of the
Pricing Supplement or (ii) these terms and conditions as so completed, amended, supplemented or varied
(and subject to simplification by the deletion of non-applicable provisions), shall be endorsed on such Notes.
All capitalised terms that are not defined in these Conditions will have the meanings given to them in the
relevant Pricing Supplement. Those definitions will be endorsed on the definitive Notes. References in the
Conditions to "Notes" are to the Notes of one Series only, not to all Notes that may be issued under the
Programme.
The Notes are issued by Banque Fédérative du Crédit Mutuel (the "Issuer") pursuant to an amended and
restated agency agreement dated 18 July 2003, ( as further amended or supplemented as at the date of issue
of the Notes (the "Issue Date"), the "Agency Agreement") between the Issuer, BNP Paribas Securities
Services, Luxembourg Branch as fiscal agent and principal paying agent (the "Fiscal Agent") and as initial
calculation agent (the "Calculation Agent") and Citibank, N.A., London office, The Bank of New York,
Brussels and BNP Paribas Securities Services, as paying agents (together with the Fiscal Agent and any
additional or other paying agents in respect of the Notes from time to time appointed and, where the context
so admits, the "Paying Agents"). If a Calculation Agent is not specified on the Notes and the terms and
conditions require that a Calculation Agent be appointed then the Fiscal Agent shall act as Calculation
Agent. The Noteholders (as defined below), the holders of the interest coupons (the "Coupons")
appertaining to interest bearing Notes and, where applicable in the case of such Notes, talons for further
Coupons (the "Talons") (the "Couponholders") and the holders of the receipts for the payment of
instalments of principal (the "Receipts") relating to Notes of which the principal is payable in instalments
are deemed to have notice of all of the provisions of the Agency Agreement applicable to them. The Notes
are issued with the benefit of a deed of covenant (as amended and supplemented as at the Issue Date, the
"Deed of Covenant") dated 18 July 2003 executed by the Issuer in relation to the Notes.
Copies of the Agency Agreement and the Deed of Covenant are available for inspection at the specified
offices of each of the Paying Agents.
References below to "Conditions" are, unless the context requires otherwise, to the numbered paragraphs
below.
1.
Form, Denomination and Title
The Notes are issued in bearer form.
Notes are serially numbered and are issued with Coupons (and, where appropriate, a Talon) attached, save in
the case of Notes that do not bear interest, in which case references to interest (other than in relation to
interest due after the Maturity Date), Coupons and Talons in these Conditions are not applicable. Any Note
the principal amount of which is redeemable in instalments is issued with one or more Receipts attached.
Title to the Notes, Receipts, Coupons and Talons shall pass by delivery. Except as ordered by a court of
competent jurisdiction or as required by law, the holder (as defined below) of any Note, Receipt, Coupon or
Talon shall be deemed to be and may be treated as its absolute owner for all purposes, whether or not it is
overdue and regardless of any notice of ownership, trust or an interest in it, any writing on it or its theft or
loss and no person shall be liable for so treating the holder.
In these Conditions, "Noteholder" means the bearer of any Note and the Receipts relating to it, "holder"
(in relation to a Note, Receipt, Coupon or Talon) means the bearer of any Note, Receipt, Coupon or Talon
and capitalised terms have the meanings given to them hereon, the absence of any such meaning indicating
that such term is not applicable to the Notes.
8


2. Status
(a)
Status of Unsubordinated Notes:
Unsubordinated Notes (being those Notes the status of which the applicable Pricing Supplement
specifies as Unsubordinated Notes) and the Receipts and Coupons relating to them constitute (subject
to Condition 3) direct, unconditional, unsecured and unsubordinated obligations of the Issuer and
rank and will rank pari passu and rateably without any preference among themselves and save for
statutorily preferred exceptions, at least equally with all other unsecured and unsubordinated
obligations (including deposits), present and future, of the Issuer.
(b)
Status of Subordinated Notes:
(i)
Subordinated Notes (being those Notes the status of which the applicable Pricing
Supplement specifies as Subordinated Notes) (and which term shall include both
Subordinated Notes with a specified maturity date ("Dated Subordinated Notes") and
Subordinated Notes without a specified maturity date ("Undated Subordinated Notes"))
and, if the applicable Pricing Supplement specifies that the payment obligations of the
Issuer under the Coupons are subordinated, the Coupons relating to them, constitute
direct, unconditional and unsecured obligations of the Issuer and rank pari passu among
themselves and with all other present and future unsecured, unconditional and
subordinated indebtedness of the issuer with the exception of the prêts participatifs
granted to, and titres participatifs issued by, the Issuer. Subject to applicable law in the
event of the voluntary liquidation of the Issuer, bankruptcy proceedings or any other
similar proceeding affecting the Issuer or in the event of transfer of the whole of its
business (cession totale de l'entreprise) or if the Issuer is liquidated for any other reason,
the payment obligations of the Issuer under the Subordinated Notes and the Receipts and,
if the applicable Pricing Supplement so specifies, the Coupons relating to them shall be
subordinated to the payment in full of the unsubordinated creditors of the Issuer and,
subject to such payment in full, the holders of the Subordinated Notes and the holders of
the Receipts and, if the applicable Pricing Supplement specifies that the payment
obligations of the Issuer under the Coupons are subordinated, of the Coupons relating to
them will be paid in priority to any prêts participatifs granted to, and any titres
participatifs issued by, the Issuer.
(ii)
In the event of incomplete payment of unsubordinated creditors on the liquidation
judiciaire of the Issuer, the obligations of the Issuer in connection with the Subordinated
Notes and the Receipts and, if the applicable Pricing Supplement specifies that the
payment obligations of the Issuer under the Coupons are subordinated, the Coupons will
be terminated by operation of law.
(iii)
Dated Subordinated Notes
Unless otherwise specified in the relevant Pricing Supplement, payments of interest
relating to Dated Subordinated Notes constitute obligations which rank equally with the
obligations of the Issuer in respect of Unsubordinated Notes issued by the Issuer in
accordance with Condition 2(a).
(iv) Undated
Subordinated
Notes
Unless otherwise specified in the relevant Pricing Supplement, payments of interest
relating to Undated Subordinated Notes will be deferred in accordance with the
provisions of Condition 4(e).
The use of the proceeds of issues of Undated Subordinated Notes will be set out in the
applicable Pricing Supplement.
The net proceeds of the issue of Undated Subordinated Notes count as Upper Tier 2
Capital. In the event of the Issuer incurring losses, such losses will be charged first
against accumulated profits ("report à nouveau"), then against reserve, and capital, and
finally, to the extent necessary, against the subordinated loans (including interest on
such Notes) of the Issuer, in order to allow the Issuer to comply with the regulatory
9


requirements applicable to banks in France, especially those relating to solvency ratios,
and in order to allow the Issuer to continue its activities.
The relevant Pricing Supplement may provide for additions or variations to the Conditions applicable to the
Subordinated Notes for the purposes inter alia of enabling the proceeds of the issue of such Subordinated
Notes to count as fonds propres complémentaires within the meaning of Article 4(c) of The Comité de la
Réglementation Bancaire et Financière ("CRBF") Regulation no. 90-02 of 23 February 1990 ("Upper Tier
2 Capital"); (ii) fonds propres complémentaires within the meaning of Article 4(d) of the CRBF Regulation
no. 90-02 of 23 February 1990 as amended ("Lower Tier 2 Capital", together with Upper Tier 2 Capital
"Tier 2 Capital") and (iii) fonds propres surcomplémentaires within the meaning of Article 3.3 of the
CRBF Regulation no. 95-02 of 21 July 1995 as amended ("Tier 3 Capital"), if such Regulation is
applicable.
Current draft legislation, referred to under paragraph 13 of the General Information section of the Offering
Circular dated 18 July 2003, will allow the Issuer to issue Deeply Subordinated Notes (as such expression is
defined in the aforesaid paragraph 13).
3. Negative
Pledge
The Issuer undertakes for the benefit of the holders of Unsubordinated Notes that, so long as any of the
Unsubordinated Notes, Receipts or Coupons remain outstanding (as defined in the Agency Agreement), it
will not create or permit to subsist any mortgage, lien, charge, pledge or other security interest (sûreté réelle)
upon any of its assets or revenues, present or future, to secure any Relevant Indebtedness (as defined below)
incurred by it or guaranteed by it (whether before or after the issue of the Notes) unless the Notes are equally
and rateably secured so as to rank pari passu with such Relevant Indebtedness. For the purposes of this
Condition, "Relevant Indebtedness" means any indebtedness for borrowed money in the form of, or
represented by bonds, notes or other securities (including securities initially privately placed) which are for
the time being, or are capable of being quoted, listed or ordinarily dealt in on any stock exchange, over-the-
counter-market or other securities market.
4.
Interest and other Calculations
(a)
Interest Rate and Accrual:
Each Note bears interest on its outstanding principal amount from the Interest Commencement Date
at the rate per annum (expressed as a percentage) equal to the Interest Rate, such interest being
payable in arrear on each Interest Payment Date.
Interest shall cease to accrue on each Note on the due date for redemption unless, upon due
presentation, payment of principal is improperly withheld or refused, in which event interest shall
continue to accrue (as well after as before judgment) at the Interest Rate in the manner provided in
this Condition 4 to the Relevant Date (as defined in Condition 7).
(b) Business
Day
Convention:
If any date referred to in these Conditions that is specified to be subject to adjustment in accordance
with a Business Day Convention would otherwise fall on a day that is not a Business Day, then, if the
Business Day Convention specified is (i) the Floating Rate Business Day Convention, such date shall
be postponed to the next day that is a Business Day unless it would thereby fall into the next calendar
month, in which event (A) such date shall be brought forward to the immediately preceding Business
Day and (B) each subsequent such date shall be the last Business Day of the month in which such
date would have fallen had it not been subject to adjustment, (ii) the Following Business Day
Convention, such date shall be postponed to the next day that is a Business Day, (iii) the Modified
Following Business Day Convention, such date shall be postponed to the next day that is a Business
Day unless it would thereby fall into the next calendar month, in which event such date shall be
brought forward to the immediately preceding Business Day or (iv) the Preceding Business Day
Convention, such date shall be brought forward to the immediately preceding Business Day.
(c)
Interest Rate on Floating Rate Notes:
If the Interest Rate is specified as being Floating Rate, the Interest Rate for each Interest Accrual
Period shall be determined by the Calculation Agent at or about the Relevant Time on the Interest
10