Obligation Crédit Agricole SA 0.01% ( FR0014004EJ9 ) en EUR

Crédit Agricole SA

100 % ⇌

France

FR0014004EJ9 ( en EUR )

0.01% par an ( paiement annuel )

12/04/2028 - Obligation échue

Prospectus brochure de l'obligation Crédit Agricole FR0014004EJ9 en EUR 0.01%, échue

100 000 EUR

1 000 000 000 EUR

Crédit Agricole est un groupe bancaire coopératif français, présent à l'international, structuré autour de caisses régionales et proposant une large gamme de services financiers.

L'Obligation émise par Crédit Agricole SA ( France ) , en EUR, avec le code ISIN FR0014004EJ9, paye un coupon de 0.01% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 12/04/2028

MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLY TARGET
MARKET Solely for the purposes of each EEA domiciled manufacturer's product approval process, the target
market assessment in respect of the Covered Bonds, 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
Covered Bonds is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all
channels for distribution of the Covered Bonds to eligible counterparties and professional clients are appropriate.
Any person subsequently offering, selling or recommending the Covered Bonds (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 Covered Bonds (by either adopting
or refining the manufacturers' target market assessment) and determining appropriate distribution channels.

UK MIFIR PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLY TARGET
MARKET Solely for the purposes of the manufacturer's product approval process, the target market assessment
in respect of the Covered Bonds taking into account the five categories referred to in item 18 of the Guidelines
published by ESMA on 5 February 2018 (in accordance with the FCA's policy statement entitled "Brexit our
approach to EU non-legislative materials", has led to the conclusion that: (i) the target market for the Covered
Bonds is only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook
("COBS") and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by
virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR"); and (ii) all channels for distribution of the
Covered Bonds to eligible counterparties and professional clients are appropriate. Any person subsequently
offering, selling or recommending the Covered Bonds (a "distributor") should take into consideration the
manufacturer's target market assessment; however, a distributor subject to the FCA Handbook Product
Intervention and Product Governance Sourcebook (the "UK MiFIR Product Governance Rules") is responsible
for undertaking its own target market assessment in respect of the Covered Bonds (by either adopting or refining
the manufacturer's target market assessment) and determining appropriate distribution channels

PROHIBITION OF SALES TO EUROPEAN ECONOMIC AREA RETAIL INVESTORS The Covered
Bonds 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"). 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"); (ii) a customer within the meaning of Directive 2016/97/EU, as
amended, 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, 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 Covered Bonds or otherwise making them
available to retail investors in the EEA has been prepared and therefore offering or selling the Covered Bonds or
otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.

PROHIBITION OF SALES TO UK RETAIL INVESTORS The Covered Bonds 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 United Kingdom ("UK"). For these purposes, a retail investor means a person who is one (or
more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of
domestic law by virtue of the European Union (Withdrawal) Act 2018 ("EUWA"); (ii) a customer within the
meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement Directive
(EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1)
of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified
investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the
EUWA. Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part
of domestic law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling the Covered Bonds
or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling
the Covered Bonds or otherwise making them available to any retail investor in the UK may be unlawful under the
UK PRIIPs Regulation.

Final Terms dated 8 July 2021

CRÉDIT AGRICOLE HOME LOAN SFH
Legal Entity Identifier (LEI): 969500C9913Z7PKUGB44

Issue of 1,000,000,000 0.01 per cent. Fixed Rate Social Covered Bonds due 12 April 2028
extendible as Floating Rate Social Covered Bonds up to 12 April 2029
(the "Covered Bonds")
under the 40,000,000,000 Covered Bond Program
Issue Price: 100.793 per cent.

Joint Lead Managers
BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
COMMERZBANK
CRÉDIT AGRICOLE CIB
DANSKE BANK
LANDESBANK BADEN-WÜRTTEMBERG
SANTANDER CORPORATE & INVESTMENT BANKING
SOCIÉTÉ GÉNÉRALE CORPORATE & INVESTMENT BANKING

Co-Lead Managers

BANCO SABADELL
HELABA
LA BANQUE POSTALE
NORD/LB
SCOTIABANK
2

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") set forth in the base prospectus dated 17 February 2021 which received approval no. 21-041 from
the Autorité des marchés financiers (the "AMF") on 17 February 2021, as supplemented by a first supplement to
the base prospectus dated 2 June 2021 which received approval no. 21-198 from the AMF on 2 June 2021, which
together constitute a base prospectus (the "Base Prospectus) for the purposes of the Regulation (EU) 2017/1129
(the "Prospectus Regulation").
This document constitutes the final terms of the Covered Bonds (the "Final Terms") described herein for the
purposes of the Prospectus Regulation and must be read in conjunction with such Base Prospectus in order to
obtain all the relevant information on the Issuer and the Covered Bonds. Full information on the Issuer and the
offer of the Covered Bonds is only available on the basis of the combination of these Final Terms and the Base
Prospectus. The Base Prospectus and these Final Terms are available for viewing on the websites of Crédit
Agricole S.A. (www.credit-agricole.com) and of the AMF (www.amf-france.org), and during normal business
hours at the registered office of the Issuer and at the specified office of the Paying Agent(s) where copies may be
obtained.
1.
Issuer:
Crédit Agricole Home Loan SFH
2.
(i)
Series Number:
77

(ii)
Tranche Number:
1

(iii)
Date on which the Covered Bonds
will be assimilated (assimilables) and form a
single Series:
Not Applicable
3.
Specified Currency:
Euro ("")
4.
Aggregate Nominal Amount of Covered Bonds:

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

(ii)
Tranche:
1,000,000,000
5.
Issue Price:
100.793 per cent. of the Aggregate Nominal Amount
6.
Specified Denomination:
100,000
7.
(i)
Issue Date:
12 July 2021

(ii)
Interest Commencement Date:
Issue Date
8.
Final Maturity Date:
12 April 2028
The Covered Bonds, having a soft bullet maturity in
accordance with Condition 7(a), will be redeemed at the
Final Maturity Date unless their maturity is extended to
the Extended Final Maturity Date as specified below.
9.
Extended Final Maturity Date:
12 April 2029
The Final Maturity Date will be extended automatically
to the Extended Final Maturity Date if the Final
Redemption Amount is not paid by the Issuer on the
Final Maturity Date. In such case, the payment of such
Final Redemption Amount shall be automatically
deferred and shall become due and payable on the
Extended Final Maturity Date, provided that (i) any
amount representing the Final Redemption Amount, as
3

specified below, remaining unpaid on the Final Maturity
Date may be paid by the Issuer on any Specified Interest
Payment Date thereafter and (ii) interest will continue to
accrue on any unpaid amount during such extended
period at the relevant newly applicable Rate of Interest
and be payable on each relevant Specified Interest
Payment Date.
10.
Interest Basis:
0.01 per cent. per annum Fixed Rate for the period from
and including the Interest Commencement Date to but
excluding the Final Maturity Date (further particulars
specified in paragraph 15 below).

EURIBOR 1 month plus 0.02 per cent. per annum
Floating Rate for the period from and including the Final
Maturity Date to but excluding the Extended Final
Maturity Date, or if earlier the date on which the
Covered Bonds are redeemed in full (further particulars
specified in paragraph 16 below).

11.
Redemption/Payment Basis:
Subject to any purchase and cancellation or early
redemption, the Covered Bonds will be redeemed on the
Final Maturity Date or on any Specified Interest
Payment Date occurring thereafter up to and including
the Extended Final Maturity Date as the case may be at
100 per cent. of their nominal amount.
12.
Change of Interest Basis:
Applicable Fixed/Floating Rate Covered Bonds
(further particulars specified below in "Fixed/Floating
Rate Covered Bonds Provisions"). Interest will accrue
on a Fixed Rate basis until the Final Maturity Date and
on a Floating Rate basis thereafter.
13.
Put/Call Options:
Not Applicable

14.
Date of Board approval for issuance of Covered
Bonds obtained:
17 December 2020 and 14 June 2021
PROVISIONS RELATING TO INTEREST PAYABLE
15.
Fixed Rate Covered Bond Provisions:
Applicable until the Final Maturity Date

(i)
Rate of Interest:
0.01 per cent. per annum payable annually in arrear on
each Interest Payment Date

(ii)
Interest Payment Dates:
12 April in each year, from and including 12 April 2022
up to and including the Final Maturity Date.

(iii)
Fixed Coupon Amount:
10 per 100,000 in Specified Denomination, except for
the Broken Amount.

(iv)
Broken Amount:
There will be a short first coupon for the period from
and including the Issue Date to but excluding 12 April
2022, which amounts to 7.51 per 100,000 in
Specified Denomination payable on the Interest
Payment Date falling on 12 April 2022

(v)
Day Count Fraction:
Actual/Actual (ICMA) (following unadjusted)

(vi)
Business Centre(s):
TARGET 2
4

(vii)
Determination Dates:
12 April in each year
16.
Floating Rate Covered Bond Provisions:
Applicable if the Final Maturity Date is extended until
the Extended Final Maturity Date.

(i)
Interest Periods:
The period from and including the Final Maturity Date
to but excluding the first Specified Interest Payment
Date and each successive period from and including a
Specified Interest Payment Date to but excluding the
next succeeding Specified Interest Payment Date, up to
and excluding the Extended Final Maturity Date or, if
earlier the Specified Interest Payment Date on which the
Covered Bonds are redeemed in full subject to
adjustment in accordance with the Business Day
Convention set out in (v) below

(ii)
Specified Interest Payment Dates:
12th day of each month from (and including) 12 May
2028 to (and including) 12 April 2029, subject to
adjustment in accordance with the Business Day
Convention set out in (v) below

(iii)
First Interest Payment Date:
12 May 2028

(iv)
Interest Period Date:
Specified Interest Payment Date

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

(vi)
Business Centre(s):
TARGET 2

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

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

(ix)
Screen Rate Determination:
Applicable

Benchmark:
EURIBOR 1 month

Relevant Time:
11.00 a.m. Brussels time

Interest Determination Dates:
Two (2) TARGET 2 Business Days prior to the
beginning of each Interest Period

Primary Source:
Reuters Page EURIBOR01

Reference Banks (if Primary Source is "Reference Not Applicable
Banks"):

Relevant Financial Centre:
Euro Zone

Representative Amount:
Not Applicable

Effective Date:
Not Applicable

Specified Duration:
1 month

(x)
ISDA Determination:
Not Applicable
5

(xi)
Linear Interpolation:
Not Applicable

(xii)
Margin:
+0.02 per cent. per annum

(xiii)
Minimum Rate of Interest:
Zero (0) per cent. per annum

(xiv)
Maximum Rate of Interest:
Not Applicable

(xv)
Day Count Fraction:
Actual/360
17.
Fixed/Floating Rate Covered Bonds Provisions: Applicable

(i)
Issuer Change of Interest Basis:
Not Applicable

(ii)
Automatic Change of Interest Basis:
Applicable

(iii)
Rate of Interest applicable to the
Interest Periods preceding the Switch
Date (excluded):
Determined in accordance with Condition 6(b), as though
the Covered Bonds were Fixed Rate Covered Bonds with
further variables set out in item 15 of these Final Terms.

(iv)
Rate of Interest applicable to the
Interest Periods following the Switch
Date (included):
Determined in accordance with Condition 6(c), as though
the Covered Bonds were Floating Rate Covered Bonds
with further variables set out in item 16 of these Final
Terms.

(v)
Switch Date:
Final Maturity Date

(vi)
Minimum notice period required for
notice from the Issuer:
Not Applicable
18.
Zero Coupon Covered Bond Provisions:
Not Applicable
PROVISIONS RELATING TO REDEMPTION
19.
Call Option:
Not Applicable

20.
Put Option:
Not Applicable
21.
Final Redemption Amount of each Covered
Bond:
100,000 per Covered Bond of Specified Denomination

22.
Early Redemption Amount of each Covered
Bond:

Early Redemption Amount(s) of each Covered
Bond payable on redemption for taxation reasons,
illegality or on event of default:
100,000 per Covered Bond of Specified Denomination
(together with interest accrued to the date fixed for
redemption)
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
23.
Form of Covered Bonds:
Dematerialised Covered Bonds

(i)
Form of Dematerialised Covered Bonds: Bearer form (au porteur)
6

(ii)
Registration Agent:
Not Applicable

(iii)
Temporary Global Certificate:
Not Applicable

24.
Financial Centre(s):
TARGET 2
25.
Talons for future Coupons or Receipts to be
attached to Definitive Materialised Covered Bonds
(and dates on which such Talons mature):
Not Applicable
26.
Details relating to Instalment Covered Bonds:
Not Applicable
27.
Representation of Bondholders - Masse (Condition Contractual Masse shall apply
12):
Name and address of the Representative: F&S Financial
Services, Vincent Fabié, domiciled at 8 rue du
Mont-Thabor, 75001 Paris, France.
Name and address of the alternate Representative:
Aether Financial Services, 36 rue de Monceau, 75008
Paris, France.
The Representative will receive a remuneration of 400
per year.
28.
Prohibition of Sales to EEA Retail Investors:
Applicable
29.
Prohibition of Sales to UK Retail Investors:
Applicable

THIRD PARTY INFORMATION
Not Applicable
Signed on behalf of CRÉDIT AGRICOLE HOME LOAN SFH:
By:
............................................
Duly authorised
7

PART B OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING
(i)
Listing:
Euronext Paris
(ii)
(a) Admission to trading:
Application has been made by the Issuer (or on its behalf) for the
Covered Bonds to be admitted to trading on Euronext Paris with
effect from the Issue Date; last day of trading expected to be 12
April 2028, unless their maturity is extended to the Extended
Final Maturity Date.
(b) Regulated Markets or
equivalent
markets
on
which, to the knowledge of
the Issuer, securities of the
same class of the Covered
Bonds to be admitted to
trading are already admitted
to trading:
Not Applicable
(iii) Estimate of total expenses
related to admission to
trading:
6,400

2.
RATINGS
Ratings:
The Covered Bonds to be issued are expected to be rated:
S&P Global Ratings Europe Limited: AAA
Moody's France SAS: Aaa
Fitch Ratings Ireland Limited: AAA
Each of S&P Global Ratings Europe Limited, Moody's France
SAS and Fitch Ratings Ireland Limited is established in the
European Union, registered under Regulation (EU) No
1060/2009, as amended (the "CRA Regulation") and included in
the list of registered credit rating agencies published by the
European Securities and Markets Authority on its website
(www.esma.europa.eu/supervision/credit-rating-agencies/risk) in
accordance with CRA Regulation.
3.
SPECIFIC CONTROLLER
The specific controller (contrôleur spécifique) shall deliver to the Issuer (i) for each quarter a certificate relating to
the borrowing program for the relevant quarter and, (ii) in the event of an issue of Covered Bonds equaling or
exceeding Euro 500,000,000 or its equivalent in any other currency, a certificate relating to such issue.

4.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for any fees payable to the Joint Lead Managers and the Co-Lead Managers in connection with the Issue of
the Covered Bonds, so far as the Issuer is aware, no person involved in the offer of the Covered Bonds has an
interest material to the issue. The Joint Lead Managers, the Co-Lead Managers and their affiliates have engaged,
and may in the future engage, in investment banking and/or commercial banking transactions with, and may
perform other services for, the Issuer and its affiliates in the ordinary course of business.
8

5.
REASONS FOR THE OFFER
(i)
Reasons for the offer:
The Covered Bonds constitute Social Covered Bonds and an
amount equal or equivalent to the proceeds will be used to finance

and/or refinance, in whole or in part, new or existing Eligible
Social Assets included or to be included in the SFH cover pool as
described in the Crédit Agricole Social Bond Framework
(https://www.credit-agricole.com/finance/finance/dette/emission
s-marche/ca-home-loan-sfh-covered-bonds).

(ii)
Estimated
net

proceeds:
1,005,180,000
6.
FIXED RATE COVERED BONDS ONLY  YIELD
Indication of yield:
-0.107 per cent. per annum.

The yield is calculated at the Issue Date on the basis of the Issue
Price for the period beginning on (and including) the Interest
Commencement Date and ending on (but excluding) the Final
Maturity Date. It is not an indication of future yield.
7.
FLOATING RATE COVERED BONDS ONLY  HISTORIC INTEREST RATES
(i)
Historic interest rates:
Details of historic EURIBOR rates can be obtained from Reuters
Page EURIBOR01 (or any successor)
(ii)
Benchmarks:
Amounts payable under the Covered Bonds will be calculated by
reference to EURIBOR which is provided by EMMI. As at the
date hereof, EMMI appears on the register of administrators and
benchmarks established and maintained by the European
Securities and Markets Authority pursuant to Article 36 of the
Benchmark Regulation (Regulation (EU) 2016/1011), as
amended (the "Benchmark Regulation").

8.
OPERATIONAL INFORMATION
(i) ISIN:
FR0014004EJ9
(ii) Temporary ISIN:
Not Applicable
(iii) Common Code:
236121097
(iv) Depositaries:

- Euroclear France to act as

Central Depositary:
Yes

- Common Depositary for

Euroclear Bank and

Clearstream Banking, société
anonyme:
No

(v) Relevant clearing

system(s) other than

Euroclear Bank SA/NV

and Clearstream

Banking, société
anonyme and the
9

relevant identification

number(s):
Not Applicable

(vi) Delivery:
Delivery against payment
(vii) Names and addresses of
additional Paying

Agent(s) (if any):
Not Applicable

9.
DISTRIBUTION
(i)
Method of
Syndicated
distribution:

(ii)
If syndicated:
(A) Names of Managers:
Joint Lead Managers

Banco Bilbao Vizcaya Argentaria, S.A.
Banco Santander, S.A.
Commerzbank Aktiengesellschaft
Crédit Agricole Corporate and Investment Bank
Danske Bank A/S
Landesbank Baden-Württemberg
Société Générale

Co-Lead Managers

Banco de Sabadell, S.A.
La Banque Postale
Landesbank Hessen-Thüringen Girozentrale
Norddeutsche Landesbank Girozentrale
Scotiabank Europe plc
(B) Stabilisation Manager:
Crédit Agricole Corporate and Investment Bank
(iii)
If
non-syndicated,

name of Dealer:
Not Applicable
(iv)
U.S.
selling
The Issuer is Category 2 for the purposes of Regulation S under
restrictions:
the United States Securities Act of 1933, as amended.
TEFRA Not Applicable

10