Obligation Air Finance SA 0.375% ( FR0014005HY8 ) en EUR

Air Finance SA

100 % ▲

France

FR0014005HY8 ( en EUR )

0.375% par an ( paiement annuel )

20/09/2033 - Obligation échue

Prospectus brochure de l'obligation Air Liquide Finance S.A FR0014005HY8 en EUR 0.375%, échue

100 000 EUR

500 000 000 EUR

Air Liquide Finance S.A. est la filiale financière d'Air Liquide, gérant les activités de financement et de trésorerie du groupe.

L'Obligation émise par Air Finance SA ( France ) , en EUR, avec le code ISIN FR0014005HY8, paye un coupon de 0.375% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 20/09/2033

MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ELIGIBLE
COUNTERPARTIES ONLY TARGET MARKET Solely for the purposes of each manufacturer's
product approval process, the target market assessment in respect of the Notes 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 manufacturers' 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 manufacturers' target market
assessment) and determining appropriate distribution channels.
PROHIBITION OF SALES TO EUROPEAN ECONOMIC AREA RETAIL INVESTORS The Notes
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 MiFID II; or (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 (the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them
available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or
otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs
Regulation.
PROHIBITION OF SALES TO UNITED KINGDOM RETAIL INVESTORS The Notes 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 (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 (8) of Article 2 of Regulation
(EU) No 2017/565 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ("EUWA"); or (ii) a customer within the meaning of the provisions of the Financial Services and
Markets Act 2000, as amended ("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 UK domestic law by virtue of the
EUWA; or (iii) not a qualified investor as defined in the Prospectus Regulation as it forms part of UK
domestic law by virtue of the EUWA. Consequently, no key information document required by Regulation
(EU) No 1286/2014 as it forms part of UK domestic law by virtue of the EUWA (the "UK PRIIPs
Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the
UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any
retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
PROHIBITION OF SALES TO CONSUMERS IN BELGIUM Notes issued under the Programme are
not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise
made available to, "consumers" (consument/consommateur) within the meaning of the Belgian Code of
Economic Law (Wetboek van economisch recht/Code de droit économique), as amended.

Final Terms dated 16 September 2021

Euro 12,000,000,000 Euro Medium Term Note Programme
unconditionally and irrevocably guaranteed by L'Air Liquide S.A. in respect of Notes
issued by Air Liquide Finance

Issue of Euro 500,000,000 0.375 per cent. Notes due 20 September 2033 (the "Notes")
by Air Liquide Finance (the "Issuer")
unconditionally and irrevocably guaranteed by
L'Air Liquide S.A. (the "Guarantor")

SERIES NO: 40
TRANCHE NO: 1

BARCLAYS
CIC MARKET SOLUTIONS
CITIGROUP
MIZUHO SECURITIES
SMBC NIKKO
(the "Joint Lead Managers")

PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions of the
Notes (the "Conditions") set forth in the Debt Issuance Programme Prospectus dated 10 May 2021 and the
first supplement dated 10 September 2021 which together constitute a Debt Issuance Programme Prospectus
for the purposes of Article 8 of the Regulation (EU) 2017/1129, as amended (the "Prospectus Regulation").
This document constitutes the Final Terms of the Notes described herein for the purposes of Article 8 of the
Prospectus Regulation and must be read in conjunction with such Debt Issuance Programme Prospectus as
so supplemented in order to obtain all the relevant information. The Debt Issuance Programme Prospectus,
the first supplement thereto and the Final Terms are available for viewing at the specified 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 the Guarantor, 75, quai d'Orsay,
75007 Paris, France and the Issuer, 6, rue Cognacq-Jay, 75007 Paris, France.

1
(i) Series Number:

40

(ii) Tranche Number:

1
2
Specified Currency:

Euro ("EUR")
3
Aggregate Nominal Amount:

(i) Series:

EUR 500,000,000

(ii) Tranche:

EUR 500,000,000
4
Issue Price:

99.824 per cent. of the Aggregate Nominal
Amount
5
Specified Denomination:

EUR 100,000
6
(i) Issue Date:

20 September 2021

(ii) Interest Commencement Date:

20 September 2021
7
Maturity Date:

20 September 2033
8
Interest Basis:

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

Not Applicable
10 Put/Call Options:

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

Unsubordinated

(ii) Dates of the corporate authorisations for

Decision of the Board of Directors of Air
issuance of the Notes:
Liquide Finance dated 6 April 2021.
A45840205
3

PROVISIONS RELATING TO INTEREST PAYABLE
12 Fixed Rate Note Provisions:

Applicable

(i) Rate of Interest:

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

(ii) Interest Payment Dates:

20 September in each year commencing on
20 September 2022 and ending on the
Maturity Date

(iii) Fixed Coupon Amount:

EUR 375 per Note of EUR 100,000
Specified Denomination

(iv) Broken Amount:

Not Applicable

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

Actual/Actual-ICMA

(vi) Interest
Determination
Dates
(Condition 6(a)):
20 September 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

(Condition 7(b)):
Applicable
(i)
Notice period:

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

DBR 0.000 per cent. Federal Government
Bond of the Bundesrepublik Deutschland
due
15 August 2031,
with
ISIN
DE0001102564
(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.
A45840205
4

(v)
Party responsible for calculating the
Optional Redemption Amount (if not the

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

+0.15 per cent. per annum
17 Residual Maturity Call Option

(Condition 7(d)):
Applicable
(i)
Call Option Date:

20 June 2033
(ii)
Notice period:

As per Condition 7(d)
18 Clean-Up Call Option (Condition 7(e))

Applicable
Clean-Up Redemption Amount:

Final Redemption Amount
19 Put Option:

Not Applicable
20 Change of Control Put Option:

Applicable
21 Final Redemption Amount of each Note:

Redemption at par
22 Early Redemption Amount:

(i) Early Redemption Amount(s) of each Note

payable on redemption for taxation reasons

(Condition
7(g)),
for
illegality

(Condition 7(k)) or an event of default

(Condition 10):
EUR 100,000 per Note of EUR 100,000
Specified Denomination

(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
23 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
24 Possibility to request identification of the

Noteholders as provided by Condition 1(a)(i):
Applicable
25 Payments on Non-Business Days

(Condition 8(h))
(i) Financial Centre(s):

Not Applicable
A45840205
5

(ii) Business Day Convention:

Following
26 Talons for future Coupons to be attached to

Definitive Notes (and dates on which such

Talons mature):
Not Applicable
27 Redenomination:

Not Applicable
28 Possibility of resale of purchased Notes in

accordance with applicable laws and

regulations:
Applicable

Signed on behalf of the Issuer:

By: ________________________

Jacques Molgo, Deputy Chief Executive Officer
Duly authorised

Signed on behalf of the Guarantor:

By: ________________________

Jérôme Pelletan, Chief Financial Officer
Duly authorised

A45840205
6

PART B OTHER INFORMATION

1
ADMISSION TO TRADING
(i) Admission to trading:

Application has been made for the Notes to be
admitted to trading on the Regulated Market of
the Luxembourg Stock Exchange and to be
listed on the Official List of the Luxembourg
Stock Exchange with effect from 20 September
2021.
(ii) Estimate of total expenses related to admission to

trading:
EUR 6,800

2
RATINGS
Ratings:

The Notes to be issued are expected to be rated:
S&P Global Ratings Europe Limited ("S&P"): A
Moody's Deutschland GmbH ("Moody's"): A3
Each of S&P and Moody's 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/supervision/credit-rating-
agencies/risk).
3
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
So far as the Issuer is aware and save for the underwriting fees payable to the Joint Lead Managers and potential
conflicts of interests referred to under the heading "Potential conflicts of interest" in the section General
Information of the Debt Issuance Programme Prospectus, no person involved in the offer of the Notes has an
interest material to the offer.
4
YIELD
Indication of yield:

0.390 per cent. per annum
The yield is calculated at the Issue Date on the
basis of the Issue Price. It is not an indication of
future yield.

5
OPERATIONAL INFORMATION
ISIN:

FR0014005HY8
Common Code:

23881852
A45840205
7

Depositaries:

(i) Euroclear France to act as Central Depositary:

Yes
(ii) Common Depositary for Euroclear and Clearstream:

No
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
6
GENERAL
The aggregate principal amount of Notes issued has been
translated into Euro at the rate of [] producing a sum of:
Not Applicable
Use of proceeds:

The net proceeds will be used for the Air Liquide
Group's general corporate purposes.
Estimated net proceeds:

EUR 498,120,000
7
DISTRIBUTION
(i) Method of distribution:

Syndicated
(ii) If syndicated:

(A)
Names of the Joint Lead Managers:

Barclays Bank Ireland PLC
Citigroup Global Markets Europe AG
Crédit Industriel et Commercial S.A.
Mizuho Securities Europe GmbH
SMBC Nikko Capital Markets Europe GmbH

(B)
Stabilising Manager if any:

Citigroup Global Markets Europe AG
(iii) If non-syndicated, name of Dealer:

Not Applicable
(iv) 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
(v)
Prohibition of Sales to EEA Retail Investors:

Applicable
(vi) Prohibition of Sales to UK Retail Investors:

Applicable
(vii) Additional information in respect of the Canadian
Not Applicable
selling restriction:

A45840205
8