Obligation BPCe 0.6% ( FR0013528775 ) en EUR

BPCe

100 % ⇌

France

FR0013528775 ( en EUR )

0.6% par an ( paiement trimestriel )

14/02/2022 - Obligation échue

Prospectus brochure de l'obligation BPCE FR0013528775 en EUR 0.6%, échue

100 000 EUR

500 000 000 EUR

BPCE est un groupe bancaire coopératif français, deuxième acteur bancaire en France, composé notamment des réseaux bancaires Caisse d'Epargne et Banque Populaire.

Le marché obligataire a récemment vu l'échéance d'une émission de dette notable, caractérisée par son code ISIN FR0013528775, et émise par BPCE. BPCE, acronyme de Banque Populaire Caisse d'Épargne, constitue le deuxième groupe bancaire en France, issu de la fusion des groupes Banque Populaire et Caisse d'Épargne. Cet émetteur, ancré dans le paysage financier français, opère principalement dans la banque de détail, l'assurance, la gestion d'actifs et la banque de financement et d'investissement, jouant un rôle central dans l'économie nationale. L'obligation en question, de type classique, était libellée en euros (EUR) et affichait un taux d'intérêt annuel fixe de 0,6%. La taille totale de cette émission s'élevait à 500 000 000 EUR, offrant aux investisseurs la possibilité d'y souscrire par tranches minimales de 100 000 EUR. Les paiements d'intérêts étaient effectués avec une fréquence trimestrielle, soit quatre fois par an. L'information clé concernant cette émission est sa maturité : ayant atteint sa date d'échéance le 14 février 2022, cette obligation a été intégralement remboursée à ses porteurs à 100% de sa valeur nominale, signifiant la restitution du capital investi plus les derniers intérêts courus, conformément aux termes d'origine du contrat de dette.

MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ELIGIBLE
COUNTERPARTIES ONLY TARGET MARKET Solely for the purposes of the manufacturer's product
approval process, the target market assessment in respect of the Notes, taking into account the five 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 Notes is eligible counterparties and professional clients only, each as defined in
Directive 2014/65/EU, as amended ("MiFID II"); 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 MiFID II 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.

C2 - Inter nal Natixis

Final Terms dated 12 August 2020

BPCE
Legal Entity Identifier (LEI): 9695005MSX1OYEMGDF46

Euro 40,000,000,000
Euro Medium Term Note Programme
for the issue of Notes

SERIES NO: 2020-32
TRANCHE NO: 1
Euro 500,000,000 Floating Rate Senior Preferred Notes due February 2022 (the "Notes")

NATIXIS

C2 - Inter nal Natixis

PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the "Conditions")
set forth in the base prospectus dated 21 November 2019 which received approval number n°19-539 from the
Autorité des marchés financiers (the "AMF") on 21 November 2019 (the "Base Prospectus"), the first
supplement to the Base Prospectus dated 18 February 2020 which received approval number n°20-044 from
the AMF, the second supplement to the Base Prospectus dated 3 April 2020 which received approval number
n°20-116 from the AMF, the third supplement to the Base Prospectus dated 24 April 2020 which received
approval number n°20-156 from the AMF, the fourth supplement to the Base Prospectus dated 3 June 2020
which received approval number n°20-236 from the AMF and the fifth supplement to the Base Prospectus dated
11 August 2020 which received approval number n°20-389 from the AMF (together, the "Supplements") which
together constitute a base prospectus for the purposes of the Regulation (EU) 2017/1129 (the "Prospectus
Regulation").
This document constitutes the Final Terms of the Notes described herein for the purposes of the Prospectus
Regulation and must be read in conjunction with such Base Prospectus as so supplemented in order to obtain
all the relevant information. The Base Prospectus and the Supplements are available for viewing at the office
of the Fiscal Agent or each of the Paying Agents and on the website of the AMF (www.amf-france.org) and
copies may be obtained from BPCE, 50 avenue Pierre Mendès-France, 75013 Paris, France.
1 Issuer:
BPCE
2 (i) Series Number:
2020-32

(ii) Tranche Number:
1
3 Specified Currency or Currencies:
Euro ("EUR")
4 Aggregate Nominal Amount:

(i) Series:
EUR 500,000,000

(ii) Tranche:
EUR 500,000,000
5 Issue Price:
100.58 per cent. of the Aggregate Nominal Amount
6 Specified Denomination:
EUR 100,000
7 (i) Issue Date:
14 August 2020

(ii) Interest Commencement Date:
Issue Date
8 Interest Basis:
3-month EURIBOR plus 0.60 per cent. Floating
Rate
(further particulars specified below)
9 Maturity Date:
Specified Interest Payment Date falling on or
nearest to 14 February 2022
10 Redemption Basis:
Subject to any purchase and cancellation or early
redemption, the Notes will be redeemed on the
Maturity Date at 100.00 per cent. of their nominal
amount
11 Change of Interest Basis:
Not Applicable
12 Put/Call Options:
Not Applicable
13 (i) Status of the Notes:
Senior Preferred Notes
1
C2 - Inter nal Natixis

(ii) Dates of the corporate authorisations for
issuance of Notes obtained:
Decision of the Directoire of the Issuer dated
24 March 2020 and decision of Mr. Jean-Philippe
BERTHAUT, Responsable Emissions Groupe of the
Issuer, dated 4 August 2020
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14 Fixed Rate Note Provisions:
Not Applicable
15 Floating Rate Note Provisions:
Applicable

(i) Interest Periods:
The period beginning from (and including) the
Interest Commencement Date to (but excluding) the
First Interest Payment Date and each successive
period beginning from (and including) a Specified
Interest Payment Date to (but excluding) the next
succeeding Specified Interest Payment Date

(ii) Specified Interest Payment Dates:
14 November 2020, 14 February 2021, 14 May
2021, 14 August 2021, 14 November 2021 and 14
February 2022, subject to adjustment in accordance
with the Business Day Convention set out in (iv)
below.

(iii) First Interest Payment Date:
14 November 2020

(iv) Business Day Convention:
Modified Following Business Day Convention

(v) Interest Period Date:
Not Applicable

(vi) Business Centre:
TARGET

(vii) Manner in which the Rate of Interest is to
be determined:
Screen Rate Determination

(viii) Party responsible for calculating the Rate
of Interest and/or Interest Amount (if not
the Calculation Agent):
Not Applicable
(ix) Screen Rate Determination:
Applicable

- Reference Rate:
3-month EURIBOR

- Interest Determination Date:
Two (2) TARGET Business Days prior to the first
day in each Interest Period

- Relevant Screen Page:
Reuters Screen page EURIBOR01

- Relevant Screen Page Time
11:00 a.m. Brussels Time
(x) FBF Determination:
Not Applicable
(xi) ISDA Determination:
Not Applicable
(xii) Margin:
+ 0.60 per cent. per annum
(xiii) Minimum Rate of Interest:
0.00 per cent. per annum
(xiv) Maximum Rate of Interest:
Not Applicable
(xv) Day Count Fraction:
Actual/360 (adjusted)
16 Zero Coupon Note Provisions:
Not Applicable
2
C2 - Inter nal Natixis

17 Inflation Linked Interest Note Provisions:
Not Applicable
PROVISIONS RELATING TO REDEMPTION
18 Call Option:
Not Applicable
19 Put Option:
Not Applicable
20 MREL/TLAC Disqualification Event Call
Option:
Applicable
21 Final Redemption Amount of each Note:
EUR 100,000 per Note of EUR 100,000 Specified
Denomination
22 Inflation Linked Notes Provisions relating to
the Final Redemption Amount:
Not Applicable
23 Early Redemption Amount:

(i) Early Redemption Amount of each Senior
Note payable on redemption upon the
occurrence
of
an
MREL/TLAC
Disqualification Event (Condition 6(g)), if
applicable, a Withholding Tax Event
(Condition 6(i)(i)), a Gross-Up Event
(Condition 6(i)(ii)) or for Illegality EUR 100,000 per Note of EUR 100,000 Specified
(Condition 6(1)):
Denomination

(ii) Early Redemption Amount of each
Subordinated Note payable on redemption
upon the occurrence of a Capital Event
(Condition 6(h)), a Withholding Tax Event
(Condition 6(i)(i)), a Gross-Up Event
(Condition 6(i)(ii)) or a Tax Deductibility
Event (Condition 6(i)(iii)):
Not Applicable

(iii) Redemption for taxation reasons
permitted on days others than Interest
Payment Dates (Condition 6(i)):
No

(iv) Unmatured Coupons to become void upon
early redemption (Materialised Bearer
Notes only) (Condition 7(f)):
Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
24 Form of Notes:
Dematerialised Notes

(i) Form of Dematerialised Notes:
Bearer form (au porteur)

(ii) Registration Agent:
Not Applicable

(iii) Temporary Global Certificate:
Not Applicable

(iv) Applicable TEFRA exemption:
Not Applicable
25 Financial Centre:
TARGET
3
C2 - Inter nal Natixis

26 Talons for future Coupons or Receipts to be
attached to Definitive Notes (and dates on
which such Talons mature):
Not Applicable
27 Details relating to Instalment Notes: amount of
each instalment, date on which each payment is
to be made:
Not Applicable
28 Redenomination provisions:
Not Applicable
29 Purchase in accordance with applicable French
laws and regulations:
Applicable
30 Consolidation provisions:
Not Applicable
31 Meeting and Voting Provisions (Condition 11): Contractual Masse shall apply
Name and address of the initial Representative:
As per Condition 11(c)
Name and address of the alternate Representative:
As per Condition 11(c)
The Representative will receive a remuneration of
EUR 2,000 (excluding VAT) per year so long as any
of the Notes remains outstanding.

RESPONSIBILITY
The Issuer accepts responsibility for the information contained in these Final Terms.
Signed on behalf of BPCE
Duly represented by:

Jean-Philippe BERTHAUT, Responsable Emissions Groupe

4
C2 - Inter nal Natixis

PART B OTHER INFORMATION
1 LISTING AND ADMISSION TO TRADING
(i)
Listing and Admission to trading:
Application has been made by the Issuer (or on its
behalf) for the Notes to be listed and admitted to trading
on Euronext Paris with effect from the Issue Date.
(ii) Estimate of total expenses related to
admission to trading:
EUR 2,500
2 RATINGS
Ratings:
The Notes to be issued have been rated:
S&P: A+
S&P is established in the European Union and registered
under Regulation (EC) No 1060/2009, as amended.
3 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 the Notes has an interest material to the offer.
4 PERFORMANCE OF RATES
Details of performance of EURIBOR rates can be obtained free of charge from Reuters EURIBOR01 screen
page.
5 NOTES LINKED TO A BENCMARK ONLY BENCHMARK
Benchmark:
Amounts payable under the Notes will be calculated by
reference to 3-month EURIBOR which is provided by
the European Money Markets Institute. As at the date of
these Final Terms, the European Money Markets
Institute appears on the register of adminsitrators and
benchmarks established and maintained by the
European Securities and Markets Authority pursuant to
Article 36 of of Regulation (EU) 2016/1011 of the
European Parliament and of the Council of 8 June 2016
(the "Benchmark Regulation").
6 OPERATIONAL INFORMATION
ISIN:
FR0013528775
Common Code:
221539087
Depositaries:

(i)
Euroclear France to act as
Central Depositary:
Yes
(ii)
Common Depositary for
Euroclear and Clearstream:
No
5
C2 - Inter nal Natixis

Any clearing system(s) other than
Euroclear and Clearstream and the
relevant identification number(s):
Not Applicable
Delivery:
Delivery against payment
Names and addresses of additional
Paying Agent(s) (if any):
Not Applicable
7 DISTRIBUTION
(i) Method of distribution:
Non-syndicated
(ii) If syndicated:
Not Applicable
(iii) If non-syndicated, name and
address of Dealer:
NATIXIS
47, quai d'Austerlitz
75013 Paris
France
(iv) Prohibition of Sales to EEA
and UK Retail Investors:
Not Applicable
(v) US
Selling
Restrictions
(Categories
of
potential
investors to which the Notes
are offered):
Reg. S Compliance Category 2 applies to the Notes; TEFRA not
applicable

6
C2 - Inter nal Natixis