Obligation Generalitat de Catalunya 6.35% ( XS0522550580 ) en EUR

Generalitat de Catalunya

114.87 % ▼

Espagne

XS0522550580 ( en EUR )

6.35% par an ( paiement annuel )

29/11/2041

Prospectus brochure de l'obligation Generalitat de Catalunya XS0522550580 en EUR 6.35%, échéance 29/11/2041

50 000 EUR

100 000 000 EUR

30/11/2024 ( Dans 196 jours )

L'Obligation émise par Generalitat de Catalunya ( Espagne ) , en EUR, avec le code ISIN XS0522550580, paye un coupon de 6.35% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 29/11/2041

SIMPLIFIED BASE PROSPECTUS

GENERALITAT DE CATALUNYA
(GOVERNMENT OF CATALONIA)
EUR 9,000,000,000
EURO MEDIUM TERM NOTE PROGRAMME
Generalitat de Catalunya (the "Issuer") has prepared this simplified base prospectus ("Simplified Base
Prospectus") for the purpose of giving information with regard to the issue of notes ("Notes") issued under the
Euro Medium Term Note Programme (the "Programme") described in this Simplified Base Prospectus during
the period of twelve months after the date hereof.
Applications have been made to the Luxembourg Stock Exchange in its capacity as relevant market operator
under Chapter 2 of Part III of the Luxembourg Act of 10 July 2005, as amended relating to prospectuses for
securities (Loi relative aux prospectus pour valeurs mobilières) for Notes issued under the Programme during
the period of twelve months after the date of this Simplified Base Prospectus to be listed on the official list of the
Luxembourg Stock Exchange and to be admitted to trading on the regulated market of the Luxembourg Stock
Exchange. The regulated market of the Luxembourg Stock Exchange is a regulated market for the purposes of
the Directive on Markets in Financial Instruments 2004/39/EC. The Programme also permits Notes to be issued
on the basis that they will not be admitted to listing, trading and/or quotation by any competent authority, stock
exchange and/or quotation system or to be admitted to listing, trading and/or quotation by such other or further
competent authorities, stock exchanges and/or quotation systems as may be agreed with the Issuer.
The Programme (Long-Term) has been rated BB by Standard & Poor's Credit Market Services Europe Limited
Sucursal en España ("S&P"). The Programme (Short-Term) has been rated B by S&P.
The Programme (Long-Term) has been rated Ba3 by Moody's Investors Services España, S.A. ("Moody's"). The
Programme (Short-Term) has been rated NP by Moody's.
The Programme (Long-Term) has been rated BBB- by Fitch Ratings España, S.A. Unipersonal ("Fitch"). The
Programme (Short-Term) has been rated F3 by Fitch.
Each of S&P, Moody's and Fitch is established in the EEA and registered under Regulation (EU) No 1060/2009,
as amended (the "CRA Regulation").
The Notes have not been and will not be registered under the United States Securities Act of 1933 and the Notes
will be subject to United States tax law requirements. Subject to certain exceptions, the Notes may not be
offered, sold or delivered within the United States or to United States persons.
Investing in Notes issued under the Programme involves certain risks. The principal risk factors that may
affect the abilities of the Issuer to fulfil its obligations under the Notes are discussed under "Risk Factors"
below.

Arranger
Goldman Sachs International
Dealers
Banco Bilbao Vizcaya Argentaria, S.A.
CaixaBank, S.A.
Crédit Agricole CIB
Credit Suisse
Deutsche Bank
Goldman Sachs International
HSBC
J.P. Morgan
Société Générale Corporate &
Santander Global Banking & Markets
Investment Banking
The date of this Simplified Base Prospectus is 20 December 2013

CONTENTS

Page
RISK FACTORS .......................................................................................................................................... 8
INFORMATION INCORPORATED BY REFERENCE .......................................................................... 14
FINAL TERMS AND DRAWDOWN PROSPECTUSES ........................................................................ 15
FORMS OF THE NOTES .......................................................................................................................... 16
TERMS AND CONDITIONS OF THE NOTES ....................................................................................... 19
FORM OF FINAL TERMS ........................................................................................................................ 41
SUMMARY OF PROVISIONS RELATING TO THE NOTES WHILE IN GLOBAL FORM ............... 56
DESCRIPTION OF GENERALITAT DE CATALUNYA ....................................................................... 59
TAXATION ............................................................................................................................................... 75
SUBSCRIPTION AND SALE ................................................................................................................... 77
USE OF PROCEEDS ................................................................................................................................. 79
GENERAL INFORMATION .................................................................................................................... 80

IMPORTANT NOTICES
Generalitat de Catalunya (the "Issuer") accepts responsibility for the information contained in this
Simplified Base Prospectus and declares that, having taken all reasonable care to ensure that such is the
case, the information contained in this Simplified Base Prospectus is, to the best of its knowledge, in
accordance with the facts and contains no omission likely to affect its import.
Each Tranche (as defined herein) of Notes will be issued on the terms set out herein under "Terms and
Conditions of the Notes" (the "Conditions") as amended and/or supplemented by a document specific to
such Tranche called final terms (the "Final Terms") or in a separate prospectus specific to such Tranche
(the "Drawdown Prospectus") as described under "Final Terms and Drawdown Prospectuses" below. In
the case of a Tranche of Notes which is the subject of a Drawdown Prospectus, each reference in this
Simplified Base Prospectus to information being specified or identified in the relevant Final Terms shall
be read and construed as a reference to such information being specified or identified in the relevant
Drawdown Prospectus unless the context requires otherwise. This Simplified Base Prospectus must be
read and construed together with any amendments or supplements hereto and with any information
incorporated by reference herein and, in relation to any Tranche of Notes which is the subject of Final
Terms, must be read and construed together with the relevant Final Terms.
The Issuer has confirmed to the Dealers named under "Subscription and Sale" below that this Simplified
Base Prospectus contains all information which is (in the context of the Programme, the issue, offering
and sale of the Notes) material; that such information is to the best of its knowledge true and accurate in
all material respects and is not misleading in any material respect; that any opinions, predictions or
intentions expressed herein are honestly held or made and are not misleading in any material respect; that,
to the best of its knowledge, this Simplified Base Prospectus does not omit to state any material fact
necessary to make such information, opinions, predictions or intentions (in the context of the Programme,
the issue, offering and sale of the Notes) not misleading in any material respect; and that all proper
enquiries have been made to verify the foregoing.
No person is or has been authorised by the Issuer to give any information or to make any representation
not contained in or not consistent with this Simplified Base Prospectus or any other document entered
into in relation to the Programme or any information supplied by the Issuer or such other information as is
in the public domain and, if given or made, such information or representation should not be relied upon
as having been authorised by the Issuer or any Dealer.
Neither the Dealers nor any of their respective affiliates have authorised the whole or any part of this
Simplified Base Prospectus and none of them makes any representation or warranty or accepts any
responsibility as to the accuracy or completeness of the information contained in this Simplified Base
Prospectus. Neither the delivery of this Simplified Base Prospectus or any Final Terms nor the offering,
sale or delivery of any Note shall, in any circumstances, create any implication that the information
contained in this Simplified Base Prospectus is true subsequent to the date hereof or the date upon which
this Simplified Base Prospectus has been most recently amended or supplemented or that there has been
no adverse change, or any event reasonably likely to involve any adverse change, in the prospects or
financial position of the Issuer since the date thereof or, if later, the date upon which this Simplified Base
Prospectus has been most recently amended or supplemented or that any other information supplied in
connection with the Programme is correct at any time subsequent to the date on which it is supplied or, if
different, the date indicated in the document containing the same.
The distribution of this Simplified Base Prospectus and any Final Terms and the offering, sale and
delivery of the Notes in certain jurisdictions may be restricted by law. Persons into whose possession this
Simplified Base Prospectus or any Final Terms comes are required by the Issuer and the Dealers to
inform themselves about and to observe any such restrictions. For a description of certain restrictions on
offers, sales and deliveries of Notes and on the distribution of this Simplified Base Prospectus or any
Final Terms and other offering material relating to the Notes, see "Subscription and Sale". In particular,
Notes have not been and will not be registered under the United States Securities Act of 1933 (as
amended) (the "Securities Act") and are subject to U.S. tax law requirements. Subject to certain
exceptions, Notes may not be offered, sold or delivered within the United States or to U.S. persons.
Neither this Simplified Base Prospectus nor any Final Terms constitutes an offer or an invitation to
subscribe for or purchase any Notes and should not be considered as a recommendation by the Issuer, the

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Dealers or any of them that any recipient of this Simplified Base Prospectus or any Final Terms should
subscribe for or purchase any Notes. Each recipient of this Simplified Base Prospectus or any Final
Terms shall be taken to have made its own investigation and appraisal of the condition (financial or
otherwise) of the Issuer.
The maximum aggregate principal amount of Notes outstanding at any one time under the Programme
will not exceed EUR 9,000,000,000 (and for this purpose, any Notes denominated in another currency
shall be translated into euro at the date of the agreement to issue such Notes (calculated in accordance
with the provisions of the Dealer Agreement)). The maximum aggregate principal amount of Notes
which may be outstanding at any one time under the Programme may be increased from time to time,
subject to compliance with the relevant provisions of the Dealer Agreement as defined under
"Subscription and Sale".
In this Simplified Base Prospectus, unless otherwise specified, references to a "Member State" are
references to a Member State of the European Economic Area, references to "EUR" or "euro" are to the
single currency introduced at the start of the third stage of European Economic and Monetary Union
pursuant to the Treaty establishing the European Community, as amended, and references to "GBP" or
"sterling" are to United Kingdom pounds sterling.
In connection with the issue of any Tranche of Notes, the Dealer or Dealers (if any) named as the
Stabilising Manager(s) (or persons acting on behalf of any Stabilising Manager(s)) in the applicable
Final Terms may over-allot Notes or effect transactions with a view to supporting the market price
of the Notes at a level higher than that which might otherwise prevail. However, there is no
assurance that the Stabilising Manager(s) (or persons acting on behalf of a Stabilising Manager)
will undertake stabilisation action. Any stabilisation action may begin on or after the date on which
adequate public disclosure of the terms of the offer of the relevant Tranche of Notes is made and, if
begun, may be ended at any time, but it must end no later than the earlier of 30 days after the issue
date of the relevant Tranche of Notes and 60 days after the date of the allotment of the relevant
Tranche of Notes. Any stabilisation action or over-allotment must be conducted by the relevant
Stabilising Manager(s) (or person(s) acting on behalf of any Stabilising Manager(s)) in accordance
with all applicable laws and rules.

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SUMMARY
This summary must be read as an introduction to this Simplified Base Prospectus and any decision to
invest in the Notes should be based on a consideration of the Simplified Base Prospectus as a whole,
including any information incorporated by reference. Where a claim relating to the information
contained in this Simplified Base Prospectus is brought before a court in a Member State of the European
Economic Area, the plaintiff may, under the national legislation of the Member States, be required to
bear the costs of translating the Simplified Base Prospectus before the legal proceedings are initiated.
Words and expressions defined in the "Terms and Conditions of the Notes" below or elsewhere in this
Simplified Base Prospectus have the same meanings in this summary.
Issuer:
Generalitat de Catalunya.
Description:
Euro Medium Term Note Programme.
Risk Factors:
Investing in Notes issued under the Programme involves
certain risks. The principal risk factors that may affect the
Notes are discussed under "Risk Factors" below.
Arranger:
Goldman Sachs International.
Dealers:
Banco Bilbao Vizcaya Argentaria, S.A., Banco Santander,
S.A., CaixaBank, S.A., Crédit Agricole Corporate and
Investment Bank, Credit Suisse Securities (Europe) Limited,
Deutsche Bank AG, London Branch, Goldman Sachs
International, HSBC Bank plc, J.P. Morgan Securities plc,
Société Générale and any other Dealer appointed from time to
time by the Issuer either generally in respect of the
Programme or in relation to one or more Tranches of Notes.
The Issuer may from time to time terminate the appointment
of any Dealer under the Programme or appoint additional
Dealers either in respect of one or more Tranches or in respect
of the whole Programme.
Fiscal Agent:
Deutsche Bank AG, London Branch, unless it is specified in
the Final Terms relating to any Series that another fiscal agent
is appointed in respect of that Series. References in this
Simplified Base Prospectus to "Fiscal Agent" are to Deutsche
Bank AG, London Branch, or such other alternative Fiscal
Agent, as the case may be.
Luxembourg Paying Agent:
Deutsche Bank Luxembourg S.A.
Luxembourg Listing Agent:
Deutsche Bank Luxembourg S.A.

The Issuer may appoint such other listing and/or paying
agent(s) as it considers, including as required pursuant to the
requirements (if any) for listing, trading and/or quotation of
any listing authority, stock exchange and/or quotation system.
Final Terms or Drawdown
Notes issued under the Programme may be issued either (1)
Prospectus:
pursuant to this Simplified Base Prospectus and associated
Final Terms or (2) pursuant to a Drawdown Prospectus. The
terms and conditions applicable to any particular Tranche of
Notes will be the Conditions of the Notes as supplemented,
amended and/or replaced to the extent described in the
relevant Final Terms or, as the case may be, the relevant
Drawdown Prospectus.

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Listing and Trading:
Applications have been made for Notes to be admitted during
the period of twelve months after the date hereof to listing on
the official list and to trading on the regulated market of the
Luxembourg Stock Exchange. The Programme also permits
Notes to be issued on the basis that they will not be admitted
to listing, trading and/or quotation by any competent
authority, stock exchange and/or quotation system, or to be
admitted to listing, trading and/or quotation by such other or
further competent authorities, stock exchanges and/or
quotation systems as may be agreed with the Issuer. Listing of
Notes on a stock exchange (including the Barcelona Stock
Exchange) other than the Luxembourg Stock Exchange may
necessitate modifications being made to the structure of the
Programme prior to such Notes being admitted to listing and
trading on such stock exchange.
Clearing Systems:
Euroclear and/or Clearstream, Luxembourg and/or, in relation
to any Tranche of Notes, any other clearing system as may be
specified in the relevant Final Terms.
Initial Programme Amount:
Up to EUR 9,000,000,000 (or its equivalent in other
currencies) aggregate principal amount of Notes outstanding
at any one time.
Issuance in Series:
Notes will be issued in Series. Each Series may comprise one
or more Tranches issued on different issue dates. The Notes of
each Series will all be subject to identical terms, except that
the issue date and the amount of the first payment of interest
may be different in respect of different Tranches. The Notes of

each Tranche will all be subject to identical terms in all
respects save that a Tranche may comprise Notes of different
denominations.
Method of Issue:
The Notes will be issued on a syndicated or non-syndicated
basis. The Notes will be issued in Series having one or more
issue dates on terms otherwise identical (or identical other
than in respect of the first payment of interest), the Notes of
each Series being intended to be fungible with all other Notes
of that Series. The specific terms of each Tranche will be set
out in the relevant Final Terms.
Forms of Notes:
Notes may only be issued in bearer form. Each Tranche of
Notes will initially be in the form of either a Temporary
Global Note or a Permanent Global Note, in each case as
specified in the relevant Final Terms. Each Global Note
which is not intended to be issued in new global note form (a
"Classic Global Note" or "CGN"), as specified in the relevant
Final Terms, will be deposited on or around the relevant issue
date with a depositary or a common depositary for Euroclear
and/or Clearstream, Luxembourg and/or any other relevant
clearing system and each Global Note which is intended to be
issued in new global note form (a "New Global Note" or
"NGN"), as specified in the relevant Final Terms, will be
deposited on or around the relevant issue date with a common
safekeeper for Euroclear and/or Clearstream, Luxembourg.
Each Temporary Global Note will be exchangeable for a
Permanent Global Note or, if so specified in the relevant Final
Terms, for Definitive Notes. If the TEFRA D Rules are
specified in the relevant Final Terms as applicable,
certification as to non-U.S. beneficial ownership will be a
condition precedent to any exchange of an interest in a

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Temporary Global Note or receipt of any payment of interest
in respect of a Temporary Global Note. Each Permanent
Global Note will be exchangeable for Definitive Notes in
accordance with its terms. Definitive Notes will, if interest-
bearing, have Coupons attached and, if appropriate, a Talon
for further Coupons.
Currencies:
Notes may be denominated in euro, United States dollars,
Japanese yen, Brazilian reales, Swedish krona, Norwegian
krona, Swiss francs, United Kingdom pounds sterling, Turkish
lira, Australian dollars or New Zealand dollars or in such other
currencies as may be agreed between the Issuer and the
relevant Dealers, subject to compliance with all applicable
legal and/or regulatory and/or central bank (or equivalent
body) requirements. Payments in respect of Notes may,
subject to such compliance, be made in and/or linked to, any
currency or currencies other than the currency in which such
Notes are denominated.
Initial Delivery of Notes:
On or before the issue date for each Tranche, the Global Note
representing the Notes may (or, in the case of Notes listed on
the official list of the Luxembourg Stock Exchange, shall) be
deposited with a common depositary or common safekeeper
(as the case may be) on behalf of Euroclear and Clearstream,
Luxembourg and/or any other relevant clearing system.
Global Notes relating to Notes that are not listed on the
official list of the Luxembourg Stock Exchange may also be
deposited with any other clearing system or may be delivered
outside any clearing system provided that the method of such
delivery has been agreed in advance by the Issuer, the Fiscal
Agent and the relevant Dealer. Notes will be initially
delivered in accordance with the procedures specified in the
applicable Final Terms (or, if appropriate, a supplement to this
Simplified Base Prospectus).
Status of the Notes:
Notes will be issued on an unsubordinated basis.
Issue Price:
Notes may be issued at any price (for example, at their
principal amount or at a discount or premium to their principal
amount) and either on a fully or partly paid basis, as specified
in the relevant Final Terms. The price and amount of Notes to
be issued under the Programme will be determined by the
Issuer and the relevant Dealer(s) at the time of issue in
accordance with prevailing market conditions.
Maturities:
Any maturity up to a maximum of 30 years as may be agreed
between the Issuer and the relevant Dealer(s), subject, in
relation to the Issuer or the specific currencies, to compliance
with all applicable legal and/or regulatory and/or central bank
(or equivalent body) requirements.

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Where Notes have a maturity of less than one year and either
(a) the issue proceeds are received by the Issuer in the United
Kingdom or (b) the activity of issuing the Notes is carried on
from an establishment maintained by the Issuer in the United
Kingdom, such Notes must: (i) have a minimum redemption
value of GBP 100,000 (or its equivalent in other currencies)
and be issued only to persons whose ordinary activities
involve them in acquiring, holding, managing or disposing of
investments (as principal or agent) for the purposes of their
businesses or who it is reasonable to expect will acquire, hold,
manage or dispose of investments (as principal or agent) for
the purposes of their businesses; or (ii) be issued in other
circumstances which do not constitute a contravention of
section 19 of the FSMA by the Issuer.
Ratings:
S&P have assigned a rating of BB for the Programme (Long-
Term) and a rating of B for the Programme (Short-Term).
Moody's have assigned a rating of Ba3 for the Programme
(Long-Term) and a rating of NP for the Programme (Short-
Term).
Fitch have assigned a rating of BBB- for the Programme
(Long-Term) and a rating of F3 for the Programme (Short-
Term).
The Programme has been given the ratings by the rating
agencies as set out above. Tranches of Notes issued under the
Programme may be rated or unrated. Where a Tranche of
Notes is rated, such rating will not necessarily be the same as
the ratings assigned to the Programme. A security rating is not
a recommendation to buy, sell, or hold securities and may be
subject to suspension, reduction or withdrawal at any time by
the assigning rating agency.
Redemption:
The applicable Final Terms will indicate either that the
relevant Notes cannot be redeemed prior to their stated
maturity (other than for taxation reasons or following an Event
of Default) or that such Notes will be redeemable at the option
of the Issuer and/or the Noteholders. The terms of any such
redemption, including notice periods, any relevant conditions
to be satisfied and the relevant redemption dates and prices
will be indicated in the applicable Final Terms.
The applicable Final Terms may provide that Notes may be
redeemable in two or more instalments of such amounts and
on such dates as are indicated in the applicable Final Terms.
Notes having a maturity of less than one year from the date of
issue may be subject to restrictions on their denomination and
distribution. See "Maturities" above.
Optional Redemption:
Notes may be redeemed before their stated maturity at the
option of the Issuer (either in whole or in part) and/or the
Noteholders to the extent (if at all) specified in the relevant
Final Terms.

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Tax Redemption:
Except as described in "Optional Redemption" above, early
redemption will only be permitted for tax reasons as described
in Condition 10(b) (Redemption and Purchase - Redemption
for tax reasons).
Interest:
Interest on the Notes may accrue at a fixed rate or a floating
rate or other variable rate or be index- or inflation-linked and
the method of calculating interest may vary between the issue
date and the maturity date of the relevant Series.
The rate or amount of interest payable in respect of Notes
shall be determined in the manner specified in the applicable
Final Terms
Denomination of the Notes:
Notes will be issued in such denominations as may be
specified in the relevant Final Terms, subject to compliance
with all applicable legal and/or regulatory and/or central bank
(or equivalent body) requirements, save that no Notes may be
issued under the Programme which have a minimum
denomination of less than EUR 1,000 (or its near equivalent in
another currency).
Negative Pledge:
The Notes will have the benefit of a negative pledge as
described in Condition 5 (Negative Pledge).
Cross Default:
The Notes will have the benefit of a cross default as described
in Condition 13 (Events of Default).
Taxation:
All payments of principal and interest in respect of Notes will
be made free and clear of withholding taxes of the Kingdom
of Spain, unless the withholding is required by law. In that
event, the Issuer will (subject as provided in Condition 12
(Taxation)) pay such additional amounts as will result in the
Noteholders receiving such amounts as they would have
received in respect of such Notes had no such withholding
been required, including but not limited to any non-resident's
income tax (impuesto sobre la renta de no residentes) and any
penalty or extra charges related to such taxes, if any, that may
be imposed on the Noteholders in Spain as a consequence of
their holding of any Notes and/or Coupons.
Interest and income deriving from the transfer, exchange,
redemption or reimbursement of Notes issued under the
Programme and received by the Noteholders who are (a)
resident in Spain for tax purposes, or (b) non-resident in Spain
but acting through a permanent establishment in Spain, will be
subject to taxation in Spain.
Governing Law:
The Notes and any non-contractual obligations arising out of
or in connection with the Notes are governed by English law.
Enforcement of Notes in Global
In the case of Global Notes, individual investors' rights against
Form:
the Issuer will be governed by a Deed of Covenant dated 20
December 2013, a copy of which will be available for
inspection at the specified office of the Fiscal Agent.
Selling Restrictions:
For a description of certain restrictions on offers, sales and
deliveries of Notes and on the distribution of offering material
in the United States of America, the European Economic
Area, the United Kingdom and the Kingdom of Spain, see
"Subscription and Sale" below.

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