Obligation DexiaCorp 1.25% ( XS1143093976 ) en EUR

DexiaCorp

100 % ⇌

France

XS1143093976 ( en EUR )

1.25% par an ( paiement annuel )

26/11/2024 - Obligation échue

Prospectus brochure de l'obligation Dexia S.A XS1143093976 en EUR 1.25%, échue

100 000 EUR

1 800 000 000 EUR

Dexia S.A. était une banque franco-belge qui a fait faillite en 2011 après avoir subi de lourdes pertes liées à la crise des subprimes et à des investissements risqués dans le secteur public.

L'Obligation émise par DexiaCorp ( France ) , en EUR, avec le code ISIN XS1143093976, paye un coupon de 1.25% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 26/11/2024

Pricing Supplement dated 23 January 2015
DEXIA CRÉDIT LOCAL
Euro 35,000,000,000
Guaranteed Euro Medium Term Note Programme
benefitting from an independent on-demand guarantee by the States of Belgium, France and
Luxembourg
(the "Programme")
Series No: G 2014-36
Tranche No: 2
Issue of EUR 350,000,000 1.25 per cent. Notes due November 2024 (the "Notes")
to be consolidated and form a single series with the existing
EUR 850,000,000 1.25 per cent. Notes due November 2024
issued as Tranche 1 of Series No. 2014-36 on 26 November 2014
(the "Existing Notes")

under the Programme
issued by

Dexia Crédit Local
Issue Price: 102.783 per cent.
of the Aggregate Amount of the Tranche plus an amount
equal to EUR 743,150.68 corresponding to accrued interest
for the period from, and including, 26 November 2014 to, but excluding, 27 January 2015
Names of the Joint Lead Managers
Deutsche Bank Aktiengesellschaft
Morgan Stanley & Co. International plc
Part A -- Contractual Terms
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth
in the Information Memorandum dated 27 June 2014 as supplemented by the supplements to the
Information Memorandum dated 21 August 2014, 28 October 2014, 17 November 2014 and 17
December, respectively (the "Supplements"). This document constitutes the Pricing Supplement of
the Notes and must be read in conjunction with such Information Memorandum as so supplemented.
Full information on the Issuer and the offer of the Notes is only available on the basis of the
combination of this Pricing Supplement and the Information Memorandum as so supplemented.
The Information Memorandum and the Supplements are available for viewing during normal business
hours at the office of the Fiscal Agent or each of the Paying Agents.

1.
Issuer:
Dexia Crédit Local
2.
(i)
Series Number:
G 2014-36
(ii)
Tranche Number:
2
(iii)
Date on which the Notes The Notes will be consolidated (assimilées),
become fungible:
form a single series and be interchangeable for
trading purposes with the Existing Notes as from
the date on which the Temporary Global Note is
exchanged for interests in the Permanent Global
Note (as referred to in paragraph 22 below)
which is expected to occur on or around 9 March
2015 (the "Exchange Date").
3.
Specified Currency or Currencies:
Euro ("EUR")
4.
Aggregate Nominal Amount of Notes:

(i)
Series:
EUR 1,200,000,000
(ii)
Tranche:
EUR 350,000,000
5.
Issue Price:
102.783 per cent, of the Aggregate Nominal
Amount plus an amount equal to EUR
743,150.68 corresponding to accrued interest for
the period from, and including, 26 November
2014 to, but excluding, 27 January 2015
6.
(i)
Specified Denominations:
EUR 100,000
(ii)
Calculation Amount:
EUR 100,000
7.
(i)
Issue Date:
27 January 2015
(ii)
Interest Commencement Date:
26 November 2014
8.
Maturity Date:
26 November 2024
9.
Interest Basis:
1.25 per cent. Fixed Rate
Further particulars specified at paragraph 15
below
10.
Redemption/Payment Basis:
Subject to any purchase and cancellation or early
redemption, the Notes will be redeemed on the
Maturity Date at 100 per cent of their nominal
amount
11.
Change of Interest or
Not Applicable
Redemption/Payment Basis:
12.
Put/Call Options:
Not Applicable
13.
(i)
Status of the Notes:
Unsubordinated
(ii)
Date of the corporate
Resolution of the Conseil d'Administration dated
authorisation for issuance of 19 February 2014 and a decision of Karel de
Notes:
Boeck and Johan Bohets dated 19 January 2015

2

14.
Method of distribution:
Syndicated

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15.
Fixed Rate Note Provisions:
Applicable
(i)
Rate of Interest:
1.25 per cent. per annum payable annually in
arrear on each Interest Payment Date
(ii)
Interest Payment Date:
26 November in each year commencing on 26
November 2015
(iii)
Fixed Coupon Amount:
EUR 1,250 per Calculation Amount
(iv)
Broken Amount(s):
Not Applicable

(v)
Day Count Fraction:
Actual / Actual (ICMA) (unadjusted)
(vi)
Determination Dates:
26 November in each year
(vii)
Other terms relating to the Not Applicable
method of calculating interest for
Fixed Rate Notes:
16.
Floating Rate Note Provisions:
Not Applicable
17.
Zero Coupon Note Provisions:
Not Applicable
PROVISIONS RELATING TO REDEMPTION
18.
Issuer Call Option:
Not Applicable
19.
Noteholder Put Option:
Not Applicable
20.
Final Redemption Amount of each EUR 100,000 per Calculation Amount
Note:
21.
Early Redemption Amount:

(i)
Early Redemption Amount(s) per As per the Conditions
Calculation Amount payable on
redemption for taxation reasons
or on event of default or other
early redemption and/or the
method of calculating the same (if
required or if different from that
set out in the Conditions):
(ii)
Redemption for taxation reasons As per the Conditions
permitted on days other than
Interest Payment Dates:
GENERAL PROVISIONS APPLICABLE TO THE NOTES
22.
Form of Notes:
Bearer Notes:
Temporary Global Note exchangeable for a
Permanent Global Note which is exchangeable
for Definitive Notes in the limited circumstances

3

specified in the Permanent Global Note
23.
New Global Note:
Yes
24.
Financial Centre or other special TARGET
provisions relating to payment dates:
25.
Adjusted Payment Date (Condition The following business day
7(g)):
26.
Talons for future Coupons or Receipts No
to be attached to Definitive Notes (and
dates on which such Talons mature):
27.
Details relating to Partly Paid Notes: Not Applicable
amount of each payment comprising
the Issue Price and date on which each
payment is to be made and
consequences (if any) of failure to pay,
including any right of the Issuer to
forfeit the Notes and interest due on
late payment:
28.
Details relating to Instalment Notes Not Applicable
redeemable in instalments (amount of
each instalment, date on which
payment is to be made):
29.
Renominalisation and reconventioning Not Applicable
provisions:
30.
Consolidation provisions:
Not Applicable
31.
Other terms:
Not Applicable
DISTRIBUTION
32.
If syndicated:

(a)
Names and addresses of Joint Lead Managers
the Joint Lead
Managers and
Deutsche Bank Aktiengesellschaft
underwriting
Taunusanlage 12
commitments/quotas:
Frankfurt am Main 60325
Germany
Underwriting commitment: EUR 175,000,000
Morgan Stanley & Co. International plc
25 Cabot Square
Canary Wharf
London E14 4QA
United Kingdom
Underwriting commitment: EUR 175,000,000
(b)
Stabilising Manager(s) Not Applicable
(if any):
33.
If non-syndicated, name and address of Not Applicable
Dealer:

4

Part B -- Other Information
1.
Listing and Admission to Trading

Application is expected to be made by the Issuer (or on its behalf) for the Notes to be listed on
the official list of the Luxembourg Stock Exchange and admitted to trading on the
Luxembourg Stock Exchange with effect from 27 January 2015.
The Existing Notes are already listed and admitted to trading on the Luxembourg Stock
Exchange.
2.
Ratings
Applicable
The following ratings reflect ratings assigned to
Notes of this type issued under the Programme
generally:
S & P: AA
Moody's: Aa3
Fitch: AA
Standard & Poor's Rating Services, Moody's
Investors Service and Fitch Ratings are
established in the European Union and
registered under Regulation (EC) No
1060/2009 as amended.
3.
Interests of Natural and Legal Persons Involved in the Issue

Save as discussed in "Subscription and Sale", so far as the Issuer is aware, no person involved
in the offer of the Notes has an interest material to the offer.
4.
Reasons for the Offer, Estimated Net Proceeds and Total Expenses
(i)
Reasons for the offer:
As set out in the section "Use of Proceeds" in
the Information Memorandum.
(ii)
Estimated net proceeds:
EUR 360,151,150.68
5.
Yield

Indication of yield:
0.952 per cent. per annum, calculated at the
Issue Date on the basis of the Issue Price. It is
not an indication of future yield.
6.
Operational Information

Temporary ISIN Code (applicable from, and
ISIN:
including, the Issue Date to, but excluding, the
Exchange Date): XS1173913028
Definitive ISIN Code (applicable on and after
the Exchange Date): XS1143093976

Temporary Common Code (applicable from,
Common Code:
and including, the Issue Date to, but excluding,
the Exchange Date): 117391302

6

Definitive Common Code (applicable on and
after the Exchange Date): 114309397

Any clearing system(s) other than Not Applicable
Euroclear Bank SA/NV and Clearstream
Banking, société anonyme and the relevant
identification number(s):
Delivery:
Delivery
against
payment

Names and addresses of additional Agent(s) Banque Internationale à Luxembourg, société
(Calculation Agent or Paying Agent, if anonyme
any):
69, route d'Esch
L-2953 Luxembourg

Intended to be held in a manner which Yes. Note that the designation "yes" simply
would allow Eurosystem eligibility:
means that the Notes are intended upon issue to
be deposited with one of the ICSDs as common
safekeeper and does not necessarily mean that
the Notes will be recognised as eligible
collateral for Eurosystem monetary policy and
intra-day credit operations by the Eurosystem
either upon issue or at any or all times during
their life. Such recognition will depend upon
satisfaction of the Eurosystem eligibility
criteria
.

The aggregate principal amount of the Not applicable
Notes issued has been translated into Euros
producing a sum of (for Notes not
denominated in Euros):

7