Obligation Air Liquides 1.875% ( FR0011951771 ) en EUR

Air Liquides

100 % ▲

France

FR0011951771 ( en EUR )

1.875% par an ( paiement annuel )

05/06/2024 - Obligation échue

Prospectus brochure de l'obligation Air Liquide FR0011951771 en EUR 1.875%, échue

100 000 EUR

500 000 000 EUR

Air Liquide est un leader mondial des gaz, technologies et services pour l'industrie et la santé.

L'Obligation émise par Air Liquides ( France ) , en EUR, avec le code ISIN FR0011951771, paye un coupon de 1.875% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 05/06/2024

Final Terms dated 3 June 2014

L'Air Liquide
Air Liquide Finance

Euro 9,000,000,000
Euro Medium Term Note Programme
for the issue of Notes
Due from one month from the date of original issue

SERIES NO: 22
TRANCHE NO: 1

Issue of Euro 500,000,000 1.875 per cent. Notes due June 2024 (the "Notes")
by: Air Liquide Finance (the "Issuer")
unconditionally and irrevocably guaranteed by: L'Air Liquide (the "Guarantor")

BANCA IMI
COMMERZBANK
CRÉDIT AGRICOLE CIB
SMBC NIKKO
THE ROYAL BANK OF SCOTLAND

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
Debt Issuance Programme Prospectus dated 23 May 2014 which constitutes a Debt Issuance Programme
Prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC) as amended by the 2010 PD
Amending Directive (Directive 2010/73/EU) (the "Prospectus Directive"). This document constitutes the
Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and
must be read in conjunction with such Debt Issuance Programme Prospectus. Full information on the Issuer
and the offer of the Notes is only available on the basis of the combination of these Final Terms and the
Debt Issuance Programme Prospectus. The Debt Issuance Programme Prospectus is available for viewing at
the office of the Fiscal Agent or the Paying Agent and on the websites of (a) the Luxembourg Stock
Exchange (www.bourse.lu) and (b) the Issuer (www.airliquide.com) and copies may be obtained from Air
Liquide Finance, 6, rue Cognacq-Jay, 75007 Paris, France. The Final Terms are available for viewing at the
office of the Fiscal Agent or the Paying Agent and copies may be obtained from L'Air Liquide, 75, quai
d'Orsay, 75007 Paris, France and Air Liquide Finance, 6, rue Cognacq-Jay, 75007 Paris, France.

1
(i) Series Number:

22

(ii) Tranche Number:

1
2
Specified Currency or Currencies:

Euro ("EUR")
3
Aggregate Nominal Amount:

(i) Series:

EUR 500,000,000

(ii) Tranche:

EUR 500,000,000
4
Issue Price:

98.423 per cent. of the Aggregate Nominal Amount
5
Specified Denomination(s):

EUR 100,000
6
(i) Issue Date:

5 June 2014

(ii) Interest Commencement Date:

5 June 2014
7
Maturity Date:

5 June 2024
8
Interest Basis:

1.875 per cent. Fixed Rate
(further particulars specified below)
9
Change of Interest Basis:

Not Applicable
10 Put/Call Options:

Make-Whole Redemption by the Issuer
Change of Control Put Option
Residual Maturity Call Option
(further particulars specified below)
11 (i) Status of the Guarantee:

Unsubordinated

(ii) Dates of the corporate authorisations for Decision of the Conseil d'administration of Air
issuance of the Notes:
Liquide Finance dated 21 May 2014 authorising the
issue of obligations up to a maximum aggregate
amount of Euro 9 billion and decision of Mrs. Fabienne
Lecorvaisier, Président-Directeur Général of the Issuer
dated 28 May 2014 deciding on the issue of the Notes
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and determining their terms and conditions.
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
12 Fixed Rate Note Provisions

Applicable

(i) Rate of Interest:

1.875 per cent. per annum payable annually in arrear
on each Interest Payment Date

(ii) Interest Payment Date(s):

5 June in each year commencing on 5 June 2015 and
ending on the Maturity Date

(iii) Fixed Coupon Amount:

EUR 1,875 per EUR 100,000 in Nominal Amount

(iv) Broken Amounts:

Not Applicable

(v) Day Count Fraction (Condition 6(a)):

Actual/Actual-ICMA

(vi) Determination Date(s) (Condition 6(a)):

5 June in each year
13 Floating Rate Note Provisions

Not Applicable
14 Zero Coupon Note Provisions

Not Applicable
PROVISIONS RELATING TO REDEMPTION
15 Call Option

Not Applicable
16 Make-Whole Redemption by the Issuer

Applicable
(Condition 7(b))

(i)
Notice period:

As per Condition 7(b)
(ii)
Reference Security:

DBR 1.75 per cent. Federal Government Bond of
Bundesrepublik Deutschland due June 2024, with ISIN
DE0001102333
(iii) Reference Dealers:

As per Condition 7(b)
(iv) Similar Security:

Reference bond or reference bonds issued by the
German Federal Government having an actual or
interpolated maturity comparable with the remaining
term of the Notes that would be utilised, at the time of
selection and in accordance with customary financial
practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term
of the Notes
(v)
Party, if any, responsible for calculating

the principal and/or interest due (if not

the Calculation Agent):
Not Applicable
(vi) Redemption Margin:

0.11 per cent. per annum
17 Put Option

Not Applicable
18 Residual Maturity Call Option :

Applicable
19 Change of Control Put Option

Applicable
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20 Final Redemption Amount of each Note

Redemption at par
21 Early Redemption Amount

(i) Early Redemption Amount(s) of each Note
payable on redemption for taxation reasons

(Condition 7(g)), for illegality (Condition

7(j)) or an event of default (Condition 10):
Nominal Amount

(ii) Redemption for taxation reasons permitted
on days others than Interest Payment Dates

(Condition 7(g)):
Yes

(iii) Unmatured Coupons to become void upon
early redemption (Materialised Bearer

Notes only) (Condition 8(f)):
Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
22 Form of Notes:

Dematerialised Notes

(i) Form of Dematerialised Notes:

Bearer dematerialised form (au porteur)

(ii) Registration Agent:

Not Applicable

(iii) Temporary Global Certificate:

Not Applicable

(iv) Applicable TEFRA exemption:

Not Applicable
23 Exclusion of the possibility to request
identification of the Noteholders as provided by

Condition 1(a)(i):
Not Applicable
24 Financial Centre(s):

Not Applicable
25 Talons for future Coupons to be attached to
Definitive Notes (and dates on which such

Talons mature):
Not Applicable
26 Possibility of resale of purchased Notes in
accordance with Articles L.213-1 A and D.213-1

A of the French Code monétaire et financier:
Yes
27 Masse (Condition 12):

Contractual Masse shall apply
Name and address of the Representative:
Mr. Laurent Adoult
Crédit Agricole Corporate and Investment Bank
9 Quai du Président Paul Doumer
92920 Paris La Défense
Name and address of the alternate Representative:
Mr. Fabien Wagner
Crédit Agricole Corporate and Investment Bank
9 Quai du Président Paul Doumer
92920 Paris La Défense
The Representative will receive no remuneration.

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LISTING AND ADMISSION TO TRADING APPLICATION
These Final Terms comprise the final terms required to list and have admitted to trading the issue of Notes
described herein pursuant to the Euro 9,000,000,000 Euro Medium Term Note Programme of L'Air Liquide and
Air Liquide Finance.

Signed on behalf of the Issuer:
By:

Signed on behalf of the Guarantor:
By:
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PART B OTHER INFORMATION

1
LISTING AND ADMISSION TO TRADING
(i) Listing:

Official List of the Luxembourg Stock
Exchange.
(ii) Admission to trading:

Application has been made for the Notes to be
admitted to trading on the Regulated Market of
the Luxembourg Stock Exchange with effect
from 5 June 2014.
(iii) Estimate of total expenses related to admission to
trading:
EUR 5,750
2
RATINGS
Ratings:

The Notes to be issued have been rated:
Standard & Poor's Ratings Services ("S & P"):
A+
S & P is established in the European Union, is
registered under Regulation (EC) No 1060/2009
as amended (the "CRA Regulation") and is
included in the list of credit rating agencies
registered in accordance with the CRA
Regulation published on the European Securities
and
Markets
Authority's
website
(www.esma.europa.eu/page/List-registered-and-
certified-CRAs).
3
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save as discussed in "Subscription and Sale", so far as the Issuer is aware, no person involved in the offer of the
Notes has an interest material to the offer.
4
YIELD

Indication of yield:

2.051 per cent. per annum.
5
OPERATIONAL INFORMATION
ISIN:

FR0011951771
Common Code:

107449825
Depositaries:

(i) Euroclear France to act as Central Depositary:

Yes
(ii) Common Depositary for Euroclear and Clearstream
Luxembourg:
No
Any clearing system(s) other than Euroclear and

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Clearstream, Luxembourg and the relevant identification

number(s):
Euroclear France
Delivery:

Delivery against payment
Names and addresses of additional Paying Agent(s) (if

any):
Not Applicable
6
GENERAL
The aggregate principal amount of Notes issued has been

translated into Euro at the rate of [] producing a sum of:
Not Applicable
Reason for the offer:

The net proceeds of the issue of the Notes will
be used:
- for the refinancing of the acquisitions of
Messer and Lurgi by replacing one portion
of the financing of such acquisition
previously made by means of bonds or
French commercial paper (billets de
trésorerie) for an amount of EUR
300,000,000; and
- for general corporate purposes for the
remaining funds.
7
DISTRIBUTION
(i)
Method of distribution:

Syndicated
(ii) If syndicated:

(A)
Names of Managers:

Banca IMI S.p.A
Commerzbank Aktiengesellschaft
Crédit Agricole Corporate and Investment Bank
SMBC Nikko Capital Markets Limited
The Royal Bank of Scotland plc

(B)
Stabilising Manager(s) if any:

Not Applicable
(iii) If non-syndicated, name of Dealer:

Not Applicable
(iv)
US Selling Restrictions (Categories of potential

Reg. S Compliance Category 2 applies to the
investors to which the Notes are offered):
Notes; TEFRA not applicable

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