Obligation BNP Paribas SA 2.159% ( US09659W2R48 ) en USD

BNP Paribas SA

94.062 % ▲

France

US09659W2R48 ( en USD )

2.159% par an ( paiement semestriel )

14/09/2029

Prospectus brochure de l'obligation BNP Paribas US09659W2R48 en USD 2.159%, échéance 14/09/2029

/

/

09659W2R4

A- ( Qualité moyenne supérieure )

Baa1 ( Qualité moyenne inférieure )

15/03/2026 ( Dans 131 jours )

BNP Paribas est une banque internationale française, l'une des plus grandes d'Europe, offrant une large gamme de services financiers aux particuliers, entreprises et institutions.

L'Obligation émise par BNP Paribas SA ( France ) , en USD, avec le code ISIN US09659W2R48, paye un coupon de 2.159% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 14/09/2029

L'Obligation émise par BNP Paribas SA ( France ) , en USD, avec le code ISIN US09659W2R48, a été notée Baa1 ( Qualité moyenne inférieure ) par l'agence de notation Moody's.

L'Obligation émise par BNP Paribas SA ( France ) , en USD, avec le code ISIN US09659W2R48, a été notée A- ( Qualité moyenne supérieure ) par l'agence de notation Standard & Poor's ( S&P ).

PRICING SUPPLEMENT (to base prospectus dated May 28, 2021, as supplemented by the supplement No. 1 dated August 3, 2021)

U.S.$1,500,000,000 Fixed to Floating Rate Senior Non Preferred Notes Due 2029

September 8, 2021

This Pricing Supplement should be read together with the accompanying base prospectus dated May 28, 2021, as supplemented by the supplement No. 1 dated August
3, 2021 (together, the "Prospectus") and the documents incorporated by reference therein. Terms used in this Pricing Supplement are described or defined in the
Prospectus. The Senior Non Preferred Notes will have terms described in the Prospectus, as supplemented by this Pricing Supplement. If the terms described in this
Pricing Supplement are different or inconsistent with those described in the Prospectus, the terms described in this Pricing Supplement will supersede. Before you
decide to invest we urge you to read this Pricing Supplement together with the Prospectus.

Issuer: BNP Paribas
FIXED RATE PROVISIONS
Expected Rating of the Senior Non Preferred Notes: Baa1/A-/A+/ A (High)*
Benchmark Note: U.S. Treasury 1.125% due August 31, 2028.
Principal Amount: $1,500,000,000
Benchmark Yield: 1.109%.
Issue Price: 100%.
Issue Yield: 2.159% per annum.
Pricing Date: September 8, 2021.
Issue Spread to Pricing Benchmark: 1.050%.
Issue Date: September 15, 2021.
Interest Payment Dates: Semi-annually each March 15 and September 15,
Maturity Date: September 15, 2029.
starting on March 15, 2022 up to, and including, the Optional Redemption Date.
Final Redemption Amount: 100% of the Principal Amount of the Senior Non
Calculation of Interest Period: The Interest Amount, if any, will be payable
Preferred Notes plus accrued interest thereon to the date of redemption.
semi-annually in arrears on each Interest Payment Date. The first Interest Period
Early Redemption Amount: Final Redemption Amount.
will begin on, and include the Issue Date and end on, but exclude, the first
Issuer Call: The Issuer may redeem the Notes in whole at their Early
Interest Payment Date. Subsequent Interest Periods will begin on, and include,
Redemption Amount on the Optional Redemption Date, on not less than 5 nor
the most recent Interest Payment Date and end on, but exclude, the next
more than 30 days' notice (subject to Condition 5(q) (Conditions to redemption
succeeding Interest Payment Date.
prior to the Maturity Date or substitution and variation of Senior Non Preferred
Business Day Convention: Following Business Day Convention.
Notes) of the Prospectus).
Day Count Fraction: 30/360 (Unadjusted).
Optional Redemption Date: September 15, 2028.

Optional Redemption for Taxation Reasons or upon MREL/TLAC
FLOATING RATE PROVISIONS
Disqualification Event: The Issuer may at any time redeem the Senior Non
Manner in which the Rate of Interest is to be determined: Screen Rate
Preferred Notes in whole at their Early Redemption Amount, upon the
Determination
occurrence of a Withholding Tax Event, Gross-Up Event or MREL/TLAC
Margin: 1.218%
Disqualification Event (subject to Condition 5(q) (Conditions to redemption
Business Day Convention: Modified Following Business Day Convention
prior to the Maturity Date or substitution and variation of Senior Non Preferred
Day Count Fraction: Actual/360 (Adjusted).
Notes) of the Prospectus).
Reference Rate: SOFR, as calculated per below
Status: Senior Non Preferred (falling within the category of obligations
SOFR Calculation:
described in Articles L.613-30-3-1-4 and R.613-28 of the French Monetary and
- Three-Month Term SOFR with fallback provisions in case Three-Month Term
Financial Code). See "Additional Information" below.
SOFR cannot be determined or a Benchmark Transition Event has occurred in
Substitution and Variation of Senior Non Preferred Notes: Subject to having
relation to the Reference Rate.
given notice to the Fiscal and Paying Agent and the Noteholders, if a
- Benchmark Replacement: As set forth in the Terms and Conditions for the
MREL/TLAC Disqualification Event has occurred and is continuing, the Issuer
Notes.
may, at its option, but subject to Condition 5(q) (Conditions to redemption prior
- SOFR Reference Time: 3:00 pm New York Time
to the Maturity Date or substitution and variation of Senior Non Preferred
Interest Reset Dates: The Reference Rate will reset quarterly on each applicable
Notes), substitute all (but not some only) of the Senior Non Preferred Notes or
Interest Payment Date, commencing on the first Interest Payment Date on which
vary the terms of all (but not some only) of the Senior Non Preferred Notes
floating rate of interest is paid, subject to the Three-Month Term SOFR
without any requirement for the consent or approval of the Noteholders, so that
Conventions.
they become or remain Qualifying Notes.
Interest Determination Date: Two U.S. Government Securities Business Days
Waiver of Set-Off: No Noteholder may at any time exercise or claim (and shall
preceding the Reset Date with respect to the next succeeding floating rate Interest
be deemed to have waived) any Waived Set-Off Rights against any right, claim,
Period, subject to the Three-Month Term SOFR Conventions.
or liability the Issuer has or may have or acquire against such Noteholder,
Interest Payment Dates: Interest payable quarterly each March 15, June 15,
directly or indirectly, howsoever arising.
September 15 and December 15 in each year from (and including) the Interest
No Events of Default: The terms of the Notes do not include events of default. Payment Date falling on or nearest to December 15, 2028 to (and including) the
However Noteholders may, upon written notice to the Fiscal and Paying Agent,
Maturity Date, subject to adjustment in accordance with the Business Day
cause the Notes to become due and payable, together with accrued interest
Convention set forth above.
thereon, as of the date on which said notice is received by the Fiscal and Paying
Interest Record Dates: With respect to each Interest Payment Date, the date that
Agent, in the event that an order is made or an effective decision is passed for the
is one Business Day prior to such Interest Payment Date, whether or not that
liquidation (liquidation amiable ou liquidation judiciaire) of the Issuer.
Interest Payment Date is a Business Day; provided that for an Interest Payment
Type of Notes: Fixed to Floating Rate.
Date that is also the Maturity Date, the interest payable on that Interest Payment
Type of Security: Senior Non Preferred Notes.
Date will be payable to the person to whom the principal is payable.
Rate of Interest: From and including the Issue Date to but excluding the
Statutory Write-Down or Conversion: By its acquisition of the Senior Non
Optional Redemption Date, the Notes will bear interest at a fixed rate of 2.159%
Preferred Notes, each Noteholder (which includes any current or future holder of
per annum. From and including the Optional Redemption Date to the Maturity
a beneficial interest in the Notes) acknowledges, accepts, consents and agrees to
Date, the Notes will bear interest at a floating rate of interest.
be bound by the effect of the exercise of the Bail-In or Loss Absorption Power

by a Relevant Resolution Authority. The issuer is licensed as a credit institution

in France and as such subject to the resolution regime introduced by the EU

Bank Recovery and Resolution Directive 2014/59/EU of May, 15, 2014 (as

amended from time to time or such other directive as may come in effect in place
thereof, including the EU Directive 2019/879/EU of May 20, 2019). This
regulation, among others, gives resolution authorities, in case the Issuer is failing
or likely to fail, the power to amend the key terms of the Notes (including but not
limited to the maturity date or the payment of interest), to write-down the claims
of unsecured creditors of a failing credit institution and to convert certain
unsecured debt claims (including Notes) to equity. In case of resolution of the
Issuer, the claims under Notes could be reduced (including to zero) or converted

S-1

to equity.
Business Day: New York and TARGET2. TARGET2 refers to the Trans-
European Automated Real-Time Gross Settlement Express Transfer System.

Lead Manager: BNP Paribas Securities Corp.
Joint Lead Managers: Santander Investment Securities Inc., Scotia Capital
(USA) Inc.
Co-Managers: BMO Capital Markets Corp., CIBC World Markets Corp.,
Desjardins Securities Inc., National Bank of Canada Financial Inc.
Calculation Agent: BNP Paribas Securities Corp.
Denominations: $200,000 and integral multiples of U.S. $1,000 in excess
thereof.
CUSIP: 144A: 09659W2R4; Reg S: 09659X2R2.
ISIN: 144A: US09659W2R48; Reg S: US09659X2R20.
Series: 6925.
*"Baa1" by Moody's Investors Service Ltd, "A-" by Standard and Poor's Ratings Group, "A+" by Fitch Ratings and "A (High)" by DBRS.
A rating (1) is subject to downward revision, suspension or withdrawal at any time by the assigning rating organization, (2) does not take into account market risk or
the performance-related risks of the investment, and (3) is not a recommendation to buy, sell or hold securities.
Certain Joint Lead Managers and Co-Managers may not be U.S. registered broker-dealers and therefore may not make sales of any Notes in the United States or to
U.S. persons except in compliance with applicable U.S. laws and regulations. To the extent that any such Joint Lead Manager and Co-Managers intends to effect sales
of the Senior Non Preferred Notes in the United States, it will do so only through one or more U.S. registered broker-dealers or otherwise as permitted by applicable
U.S. law.

________________________________________________

The Issuer has not been registered under the Investment Company Act of 1940, as amended, and the Senior Non Preferred Notes have not been,
and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act"), or the state securities laws of any state of the United States or
the securities laws of any other jurisdiction and are being offered only to qualified institutional buyers ("QIBs"), within the meaning of Rule 144A, pursuant
to the registration exemption under Rule 144A and outside the United States to non-"U.S. persons" in "offshore transactions" (as such terms are defined in
Rule 902 under the Securities Act) pursuant to Regulation S under the Securities Act.

Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of the Senior
Non Preferred Notes or determined that this Pricing Supplement is truthful or complete. Any representation to the contrary is a criminal offense. Under no
circumstances shall this Pricing Supplement constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these Notes, in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such jurisdiction.

The Senior Non Preferred Notes constitute unconditional liabilities of the Issuer. The Senior Non Preferred Notes are not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality.

It is expected that delivery of the Senior Non Preferred Notes will be delivered against payment therefor on or about April 19, 2021, which will
be the fifth business day following the date of pricing of the Senior Non Preferred Notes (such settlement cycle being referred to herein as "T+5"). Under
Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days
unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Senior Non Preferred Notes more than two
business days prior to their date of delivery will be required, by virtue of the fact that the Senior Non Preferred Notes initially will settle in T+5, to specify an
alternate settlement cycle at the time of any such trade to prevent a failed settlement and should consult their own advisor.

The Senior Non Preferred 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 (the "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"); or (ii) a customer within the meaning of
Directive (EU) 2016/97 (the "Insurance Distribution Directive"), 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 (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 Senior Non Preferred
Notes or otherwise making them available to retail investors in the EEA, has been or will be 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.

The Senior Non Preferred 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 ("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 Senior Non Preferred Notes or otherwise making them available to
retail investors in the UK has been prepared and therefore offering or selling the Senior Non Preferred Notes or otherwise making them available to any
retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

MIFID II 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 Senior Non Preferred Notes has led to the conclusion that: (i) the target market for the
Senior Non Preferred Notes is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all channels for distribution of the
Senior Non Preferred Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending
the Senior Non Preferred 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 Senior Non Preferred Notes (by either adopting or
refining the manufacturer's target market assessment) and determining appropriate distribution channels.
S-2

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 Senior Non Preferred Notes has led to the conclusion that: (i) the target market for the
Senior Non Preferred 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 domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR");
and (ii) all channels for distribution of the Senior Non Preferred Notes to eligible counterparties and professional clients are appropriate. Any person
subsequently offering, selling or recommending the Senior Non Preferred 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 Senior Non Preferred Notes (by either
adopting or refining the manufacturer's target market assessment) and determining appropriate distribution channels.
__________________________
BNP PARIBAS

ADDITIONAL INFORMATION

You should read this Pricing Supplement together with the Prospectus.

This Pricing Supplement, together with the Prospectus, contains the terms of the Senior Non Preferred
Notes and supersedes all prior or contemporaneous oral statements as well as any other written materials including
preliminary or indicative pricing terms, correspondence, trade ideas, structures for implementation, sample
structures, brochures or other educational materials of ours. You should carefully consider, among other things, the
matters set forth in "Risk Factors" in the Prospectus.

An investment in the Senior Non Preferred Notes entails significant risks relating to the Senior Non
Preferred Notes not associated with similar investments in a conventional debt security, including those described
below. You should read the following information about these risks, together with the other information in this
Pricing Supplement, before investing in the Senior Non Preferred Notes. We urge you to consult your investment,
legal, tax, accounting and other advisors before you invest in the Senior Non Preferred Notes.

The Issuer is not affiliated with the Federal Reserve Bank of New York. The Federal Reserve Bank of New
York does not sanction, endorse, or recommend any products or services offered by the Issuer.

Status of the Senior Non Preferred Notes

The Notes will be Senior Non Preferred Obligations (as defined in the Prospectus) and are direct,
unconditional, unsecured and senior (chirographaires) obligations of the Issuer, and rank and will at all times rank
(a) senior to Eligible Creditors (as defined in the Prospectus) of the Issuer, Ordinarily Subordinated Obligations (as
defined in the Prospectus) and any other present or future claims otherwise ranking junior to Senior Non Preferred
Obligations; (b) pari passu among themselves and with other Senior Non Preferred Obligations; and (c) junior to
present and future claims benefiting from preferred exceptions including Senior Preferred Obligations (as defined in
the Prospectus). Subject to applicable law, in the event of the voluntary or judicial liquidation (liquidation amiable
ou liquidation judiciaire) of the Issuer, bankruptcy proceedings or any other similar proceedings affecting the Issuer,
the rights of Noteholders to payment under the Senior Non Preferred Notes rank (a) junior to Senior Preferred
Obligations; and (b) senior to any Eligible Creditors of the Issuer, Ordinarily Subordinated Obligations and any
other present or future claims otherwise ranking junior to Senior Non Preferred Obligations.
S-3