Obligation Crédit Agricole SA 4.5% ( FR001400CKZ1 ) en USD

Crédit Agricole SA

100 % ⇌

France

FR001400CKZ1 ( en USD )

4.5% par an ( paiement semestriel )

07/09/2032

Prospectus brochure de l'obligation Crédit Agricole FR001400CKZ1 en USD 4.5%, échéance 07/09/2032

200 000 USD

25 000 000 USD

07/03/2026 ( Dans 123 jours )

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 USD, avec le code ISIN FR001400CKZ1, paye un coupon de 4.5% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 07/09/2032

DocuSign Envelope ID: D47FECEC-B378-40A6-BFC3-AA521E45F760

MiFID II product governance / Professional investors and ECPs only target market Solely for
the purposes of each 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 (EU) 2014/65 (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.

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 Notes, 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 Notes 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 UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MiFIR"); 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 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 Notes (by either adopting or refining the manufacturer's
target market assessment) and determining appropriate distribution channels.

DocuSign Envelope ID: D47FECEC-B378-40A6-BFC3-AA521E45F760

Final Terms dated 5 September 2022

Crédit Agricole S.A.
Legal Entity Identifier (LEI): 969500TJ5KRTCJQWXH05

Euro 85,000,000,000
Euro Medium Term Note Programme
Series No: 638
Tranche No: 1
Issue of USD 25,000,000 Senior Preferred Fixed Rate Notes due 7 September 2032
(the "Notes")
Issued by: Crédit Agricole S.A. (the "Issuer")
Lead Manager and Sole Bookrunner
Crédit Agricole CIB

Any person making or intending to make an offer of the Notes may only do so in circumstances in
which no obligation arises for the Issuer or any Dealer to publish a prospectus pursuant to Article 3
of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus
Regulation, in each case, in relation to such offer.
Neither the Issuer nor any Dealer has authorised, nor do they authorise, the making of any offer of
Notes in any other circumstances.
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 consumer (consument/consommateur) within the
meaning of the Belgian Code of Economic Law (Wetboek van economisch recht/Code de droit
économique), as amended, in Belgium.
The expression "Prospectus Regulation" means Regulation (EU) No 2017/1129, as amended.

DocuSign Envelope ID: D47FECEC-B378-40A6-BFC3-AA521E45F760

Part A Contractual Terms
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth
in "Terms and Conditions of the French Law Notes" in the base prospectus dated 8 April 2022 which
has received approval no. 22-090 from the Autorité des marchés financiers (the "AMF") on 8 April
2022, the first supplement to it dated 17 May 2022 which has received approval no. 22-158 from the
AMF on 17 May 2022, the second supplement to it dated 27 June 2022 which has received approval
no. 22-246 from the AMF on 27 June 2022 and the third supplement to it dated 17 August 2022 which
has received approval no. 22-353 from the AMF on 17 August 2022, which together constitute a base
prospectus for the purposes of the Prospectus Regulation (the "Base Prospectus"). 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 the Base 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 Base Prospectus. The Base Prospectus is available for viewing on the website of the
Issuer (https://www.credit-agricole.com/finance/finance/dette/emissions-marche/credit-agricole-
s.a.-emissions-marche), on the website of the AMF (www.amf-france.org) and copies may be
obtained from Crédit Agricole S.A., 12, Place des États-Unis, 92127 Montrouge Cedex, France.

1.
Issuer:
Crédit Agricole S.A.
2.

(i) Series
Number:
638
(ii)
Tranche
Number: 1

(iii)
Date on which the Notes Not Applicable
become fungible:
3.

Specified Currency or Currencies:
United States Dollar ("USD")
4.
Aggregate
Nominal
Amount:

(i)
Series:
USD 25,000,000
(ii)
Tranche:
USD
25,000,000
5.

Issue Price:
100.00 per cent. of the Aggregate Nominal
Amount
6.

Specified Denomination:
USD 200,000
7.

(i) Issue
Date:
7
September
2022
(ii)
Interest
Commencement
Issue Date
Date:
8.

Maturity Date:
7 September 2032
9.
Interest
Basis:
4.500 per cent. Fixed Rate
(further particulars specified in paragraph 15
below)
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.

Noteholder Put/Issuer Call:
Not Applicable
13.

Status:
Senior Preferred Notes

DocuSign Envelope ID: D47FECEC-B378-40A6-BFC3-AA521E45F760

14.

Dates of the corporate authorisations for Resolution of the Board of Directors of the
issuance of the Notes:
Issuer dated 9 February 2022 and the Final
Terms dated 5 September 2022 which constitute
the décision d'émission
Provisions Relating to Interest (if any) Payable
15.

Fixed Rate Note:
Applicable

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

(ii)
Interest Payment Dates:
7 September in each year, from (and including)
7 September 2023, up to (and including) the
Maturity Date

(iii)
Fixed Coupon Amount:
USD 9,000 per Specified Denomination payable
on each Interest Payment Date
(v)
Broken
Amount:
Not
Applicable

(vi)
Day Count Fraction:
30/360, not adjusted

(vii)
Determination Dates:
Not Applicable

(viii)
Resettable Notes:
Not Applicable
16.

Floating Rate Note:
Not Applicable
17.

Zero Coupon Note:
Not Applicable
18.

CMS Linked Note:
Not Applicable
19.

Inflation Linked Notes:
Not Applicable
Provisions Relating to Redemption
20.

Redemption at the Option of the Issuer
Not Applicable
(Issuer Call):

21.

Clean-up Redemption Option:
Not Applicable
22.

Redemption at the Option of
Not Applicable
Noteholders (Noteholder Put):

23.

(i) MREL/TLAC Disqualification
Not Applicable
Event Call Option:

(ii) Early Redemption Amount:
Final Redemption Amount
24.

Final Redemption Amount of each
Subject to any purchase and cancellation or
Note:
early redemption, the Notes will be redeemed on
the Maturity Date at 100.00 per cent. of their
outstanding principal amount
25.

Early Redemption Amount of each
USD 200,000 per Note of USD 200,000
Note:
Specified Denomination
26.
Make-Whole Redemption Amount:
Not Applicable
27.
Events of Default:
Not Applicable
General Provisions Applicable to the Notes
28.
(i)
Form of Notes (Bearer
Dematerialised Notes
Notes):

DocuSign Envelope ID: D47FECEC-B378-40A6-BFC3-AA521E45F760

(ii) Form
of
Dematerialised Bearer dematerialised form (au porteur)
Notes:

(iii) Registration
Agent:
Not Applicable

(iv) Calculation
Agent(s)
(if
not
Crédit Agricole Corporate and Investment Bank
the Fiscal Agent):

(v) Temporary
Global
Not Applicable
Certificate:

29.

Exclusion of the possibility to request Not Applicable
identification of a Noteholder as
Provided by Condition 1(a):
30.

Financial Center(s):
New York
31.

Talons for future Coupons or Receipts Not Applicable
to be attached to Definitive Materialised
Bearer Notes (and dates on which such
Talons mature):
32.

Details relating to Instalment Notes:
Not Applicable
amount of each Instalment, date on

which each payment is to be made:
33.

Applicable tax regime:
Condition 9(a) applies
34.

Representation of holders of French
Contractual Masse shall apply
Law Notes Masse:
Primary Appointed Representative: as per the
Conditions F&S Financial Services, 13 rue
Oudinot, 75007 Paris, France
Alternate Appointed Representative: as per the
Conditions Aether Financial Services, 36 rue
de Monceau, 75008 Paris, France
The Primary Appointed Representative or, as
the case may be, the Alternate Appointed
Representative, will receive a remuneration of
EUR 300 per year (excluding taxes), payable as
per the Conditions.
Responsibility
I hereby accept responsibility for the information contained in these Final Terms.
Signed on behalf of the Issuer on 5 September 2022

Duly represented by: Laurent Côte

DocuSign Envelope ID: D47FECEC-B378-40A6-BFC3-AA521E45F760

Part B Other Information
1.
LISTING AND ADMISSION TO TRADING
(i)
Listing:
Application has been made for the Notes to be
admitted to trading on Euronext Paris with effect
from 7 September 2022
(ii)
Estimate of total expenses
EUR 6,325 (without tax)

related to admission to trading:
2.
RATINGS

The Notes to be issued have been rated:
Standard & Poor's: A+
Moody's: Aa3
Fitch: AA-
Standard & Poor's, Moody's and Fitch are
established in the European Union and are registered
under Regulation (EC) No 1060/2009 (the "CRA
Regulation"). As such, Standard & Poor's, Moody's
and Fitch are included in the list of credit rating
agencies published by the European Securities and
Market Authority on its website in accordance with
the CRA Regulation
(www.esma.europa.eu/supervision/credit-rating-
agencies/risk).

As defined by Standard & Poor's, an "A" rating
means that the Issuer's capacity to meet its financial
commitments on the obligation is strong but
somewhat susceptible to economic conditions and
changes in circumstances. The addition of a plus (+)
sign shows relative standing within that rating
categories.
As defined by Moody's, obligations rated "Aa3" are
judged to have a high grade credit quality and are
subject to very low credit risk. The modifier 3
indicates a ranking in the lower end of that generic
rating category.
As defined by Fitch, an "AA" rating denotes
expectations of very low default risk. It indicates
very strong capacity for payment of financial
commitments. This capacity is not significantly
vulnerable to foreseeable events. The modifier (-) is
appended to denote relative status within this
category.
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for the fees payable to the Manager, so far as the Issuer is aware, no person involved in the issue of
the Notes has an interest material to the offer. The Manager and its affiliates have engaged, and may in

DocuSign Envelope ID: D47FECEC-B378-40A6-BFC3-AA521E45F760

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.
4.
REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS
(i) Reasons
for
the
offer:
The net proceeds will be used for the Issuer's general
funding requirements
(ii) Estimated
net
proceeds:
USD
24,975,000
5.
YIELD
Indication of yield:
4.500 per cent. per annum

The yield in respect of this issue of Fixed Rate Notes
is calculated on the basis of the Issue Price using the
following formula:

C
P=
(1-(1+r)-n) + A(1+r)-n
r
where:
P
is the Issue Price of the Notes;
C
is the Interest Amount;
A
is the outstanding principal amount of Notes
due on redemption;
n
is time to maturity in years; and
r
is the yield.
As set out above, the yield is calculated at the Issue
Date on the basis of the Issue Price. It is not an
indication of future yield.
6.
OPERATIONAL INFORMATION
(i)
ISIN: FR001400CKZ1
(ii) Common Code:
253076399
(iii) Any clearing system(s) other than Not Applicable
Euroclear Bank SA/NV and Clearstream
Banking Société Anonyme and the
relevant identification number(s):
(iv) Delivery:
Delivery against payment
(v) Names and addresses of Paying Agent(s) CACEIS Corporate Trust
(including any additional Paying 14, rue Rouget de Lisle
Agent(s)):
92682 Issy-Les-Moulineaux Cedex 9
France

7.
DISTRIBUTION
1.
Method
of
distribution:
Non-syndicated
2.
If syndicated,
Not Applicable

DocuSign Envelope ID: D47FECEC-B378-40A6-BFC3-AA521E45F760

3.

If non-syndicated, name of Dealer: Crédit Agricole Corporate and Investment
Bank
4. Intermediary(ies)
in
secondary
Not Applicable
trading
5.

U.S. Selling Restrictions
Reg. S Compliance Category 2; TEFRA not
applicable
6.

Prohibition of Sales to EEA Retail Not Applicable
Investors under the PRIIPs
Regulation:
7.
Prohibition of Sales to UK Retail
Not Applicable
Investors under the UK PRIIPs

Regulation:

8.

Additional Selling Restrictions:
Not Applicable

9.
Specific
Consent:
Not Applicable
10.
General
Consent:
Not Applicable