Obligation Banco Crédito Inversiones 0% ( XS1984711355 ) en USD

Société émettrice Banco Crédito Inversiones
Prix sur le marché 100 %  ⇌ 
Pays  Chili
Code ISIN  XS1984711355 ( en USD )
Coupon 0%
Echéance 23/04/2024 - Obligation échue



Prospectus brochure de l'obligation Banco de Credito e Inversiones XS1984711355 en USD 0%, échue


Montant Minimal 1 000 000 USD
Montant de l'émission 10 000 000 USD
Description détaillée Banco de Crédito e Inversiones (BCI) est une banque multinationale chilienne offrant une large gamme de services financiers, notamment des services bancaires de détail, des services bancaires d'entreprise et d'investissement, et des opérations sur les marchés des capitaux, avec une présence significative en Amérique du Sud.

L'Obligation émise par Banco Crédito Inversiones ( Chili ) , en USD, avec le code ISIN XS1984711355, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 23/04/2024








Base Prospectus



US$4,000,000,000
Medium Term Notes Program
Banco de Crédito e Inversiones,
acting directly or through its Miami Branch
US$4,000,000,000
Medium Term Notes Program
Under this US$4,000,000,000 Medium Term Notes Program (the "Program"), Banco de Crédito e Inversiones (the "Issuer," the "Bank" or "Bci")
may from time to time issue medium term notes ("Notes") which may be issued on a subordinated or unsubordinated basis. The Notes will be offered (i)
inside the United States of America (the "United States") in reliance on an exemption from registration under the U.S. Securities Act of 1933, as amended
(the "Securities Act") only to qualified institutional buyers ("QIBs"), within the meaning of Rule 144A ("Rule 144A") under the Securities Act, and/or (ii)
outside the United States to non-U.S. persons (as such term is defined in Rule 904 under the Securities Act (a "non-U.S. person")) pursuant to Regulation S
("Regulation S") under the Securities Act. The Notes will be denominated in any currency agreed upon between the Issuer and the relevant Dealer (as
defined below). The final terms of each Note will be specified in the Final Terms (as defined below). For more information, see "Description of the Notes."
Each initial and subsequent purchaser of the Notes offered hereby in making its purchase will be deemed to have made certain acknowledgements,
representations and agreements intended to restrict the resale or other transfer of such Notes and may in certain circumstances be required to provide
confirmation of compliance with such resale or other transfer restrictions below and as set forth in "Important Notices" and "Transfer and Selling
Restrictions."
Notice of the aggregate nominal amount of Notes, interest (if any) payable in respect of Notes, the issue price of Notes and any other terms
contemplated herein which are applicable to a particular issuance of Notes will be set out in the relevant Final Terms relating to such Notes.
See "Risk Factors" beginning on page 1 of this Prospectus for a discussion of certain significant risks you should consider in connection
with an investment in the Notes.
The Notes are not intended to be offered, sold or otherwise made available 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 Directive 2014/65/EU (as amended, "MiFID II") or (ii) a customer within the meaning of Directive (EU) 2016/97 (as
amended, 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. Prospective investors are referred to the section headed "Important Notices" on page iii of this Prospectus (as defined below).
The Notes are not intended to be offered, sold or otherwise made available 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"); 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 the Insurance Distribution Directive, 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.
Application has been made to the Luxembourg Stock Exchange for Notes issued under the Program (other than Indexed Notes (as defined below))
to be listed on the Official List of the Luxembourg Stock Exchange and 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 MiFID II. Notes issued under the Program (other than
Indexed Notes) may also be listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Euro MTF market of the
Luxembourg Stock Exchange (an MTF for the purposes of MiFID II), any other or further stock exchange(s) or may not be admitted to trading or listed.
Indexed Notes will not be admitted to trading on the Luxembourg Stock Exchange's regulated market and are not in the scope of the approval by the
Commission de Surveillance du Secteur Financier under this Prospectus.
This document comprises a Base Prospectus for the purpose of Article 8 of Regulation (EU) 2017/1129, as amended (the "Prospectus
Regulation"). This Base Prospectus (the "Prospectus") may be used only for the purposes for which it has been prepared. This Prospectus has been
approved by the Commission de Surveillance du Secteur Financier (the "CSSF"), as competent authority under Regulation (EU) 2017/1129. The CSSF only
approves this Prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by Regulation (EU) 2017/1129. By
approving this Prospectus in accordance with Article 20 of Regulation (EU) 2017/1129, the CSSF does not engage in respect of the economic or financial
opportunity of the operation or the quality and solvency of the Issuer. Such approval should not be considered as an endorsement of the issuer that is the
subject of this Prospectus. You should make your own assessment as to the suitability of investing in the Notes.
Arrangers
BofA Securities

Standard Chartered Bank
Dealers
BofA Securities,
BNP
Citigroup
Daiwa
Goldman
HSBC
J.P.
Mizuho
MUFG
Standard
Inc.
PARIBAS
Capital
Sachs & Co.
Morgan
Securities
Chartered
Markets
LLC
Bank

June 9, 2021





TABLE OF CONTENTS

Page
Page

Management's Discussion and Analysis of
Responsibility Statement ............................................... iii
Financial Condition and Results of Operations......... 70
Important Notices ...........................................................iv
Quantitative and Qualitative Disclosures About
Notice to Prospective Investors in Chile ........................vi
Market Risk............................................................. 108
Notification under Section 309b of the Securities
The Chilean Banking Industry .................................... 122
and Futures Act (Chapter 289) of Singapore ..............vi
Business ...................................................................... 129
Prohibition of Sales to Retail Investors In The
Selected Statistical Information .................................. 142
United Kingdom .........................................................vi
Regulation and Supervision ........................................ 185
Additional Notice to Investors in the United
Management ............................................................... 210
Kingdom ................................................................... vii
Principal Shareholders ................................................ 219
Prohibition of Sales to EEA and UK Retail
Related Party Transactions ......................................... 220
Investors ................................................................... vii
Description of the Notes ............................................. 225
MIFID II Product Governance / Target Market ........... vii
Form of Final Terms ................................................... 262
UK MIFIR Product Governance/Target Market........... vii
Taxation ...................................................................... 270
Ratings......................................................................... viii
Certain ERISA Considerations ................................... 283
Available Information ................................................. viii
Special Provisions Relating to Foreign Currency
Certain Terms and Conventions .....................................ix
Notes ....................................................................... 284
Enforcement of Civil Liabilities ...................................... x
Book-Entry Clearance Systems .................................. 287
Cautionary Disclosure Regarding Forward-
Plan of Distribution .................................................... 290
Looking Statements ....................................................xi
Transfer and Selling Restrictions ................................ 292
General Description of the Program ................................ 1
Legal Matters .............................................................. 302
Risk Factors ..................................................................... 3
Independent Auditors ................................................. 303
Overview of the Program .............................................. 43
General Information ................................................... 304
Use of Proceeds ............................................................. 48
Clearing Systems ........................................................ 305
Presentation of Financial and Other Information .......... 49
Documents on Display ................................................ 305
Overview of the Bank.................................................... 51
Annex A--Significant Differences Between Chilean
Capitalization ................................................................ 60
GAAP and IFRS .................................................. A-1
Exchange Rates ............................................................. 61
Annex B--Significant Departures from International
Exchange Controls ........................................................ 62
Standards on Auditing ......................................... B-1
City National Bank of Florida ....................................... 63
Index to Consolidated Financial Statements ................ F-1
_______________________

i



RESPONSIBILITY STATEMENT
The Issuer with its registered office in Santiago, Chile is solely responsible for the information given in this
Prospectus and in any Final Terms for each Series or Tranche of Notes issued under the Program. The Issuer hereby
declares that to the best of its knowledge and belief, having taken all reasonable care to ensure that such is the case, the
information contained in this Prospectus and in any Final Terms for each Series or Tranche of Notes issued under the
Program is in accordance with the facts and contains no omission likely to affect its import.
iii




IMPORTANT NOTICES
Copies of Final Terms (as defined below) will be available from the registered office of the Issuer and the
specified office set out below of each of the Paying Agents (as defined below) (save that a Final Terms relating to a Note
which is neither admitted to trading on a regulated market in the EEA or in the UK nor offered in the EEA or in the UK in
circumstances where a prospectus is required to be published under the Prospectus Regulation, including as it forms part of
UK domestic law by virtue of the EUWA, will only be available for inspection by a holder of such Note and such holder
must produce evidence satisfactory to the relevant Issuer and the relevant Paying Agent as to its holding of Notes and
identity).
This Prospectus should be read and understood in conjunction with any supplement hereto. Full information on
the Issuer and any Notes issued under the Program is only available on the basis of the combination of this Prospectus
(including any supplement) and the relevant Final Terms.
No person is or has been authorized to give any information or to make any representations, other than those
contained in this Prospectus, in connection with the Program or the issue and sale of the Notes and, if given or made, such
information or representations must not be relied upon as having been authorized by Bci. Neither the delivery of this
Prospectus nor any sale made hereunder shall, under any circumstances, create any implication that the information herein
is correct as of any time subsequent to the date hereof.
Neither this Prospectus nor any other information supplied in connection with the Program or any Notes (i) is
intended to provide the basis of any credit or other evaluation or (ii) should be considered as a recommendation by the
Issuer or any of the Dealers that any recipient of this Prospectus or any recipient of any other information supplied in
connection with the Program or any Notes should purchase any Notes. Each investor contemplating purchasing any Notes
should make its own independent investigation of the financial condition and affairs, and its own appraisal of the
creditworthiness, of the Issuer. Neither this Prospectus nor any other information supplied in connection with the Program
or the issue of any Notes constitutes an offer or invitation by or on behalf of either Issuer or any of the Dealers to subscribe
for or to purchase any Notes in any jurisdiction to any person to whom it is unlawful to make the offer or solicitation in
such jurisdiction.
This Prospectus is valid for twelve months upon its date of approval. This Prospectus has been approved on
June 9, 2021 and will expire on June 9, 2022. This Prospectus and any supplement thereto as well as any Final
Terms reflect the status as of their respective dates of issue. Neither the delivery of this Prospectus nor the offering,
sale or delivery of any Notes shall in any circumstances imply that the information contained in the related
documents is accurate and complete subsequent to the date hereof or that there has been no adverse change in the
financial condition of the Issuer since such date or that any other information supplied in connection with the
Program 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.
For so long as any Notes remain outstanding, the Issuer will, in the event of any significant new factor,
material mistake or inaccuracy relating to information included in this Prospectus that is capable of affecting the
assessment of any Notes, prepare a supplement to this Prospectus or publish a new prospectus for use in connection
with any subsequent issue of Notes. The obligation to supplement this Prospectus in the event of any significant new
factor, material mistake or inaccuracy relating to information included in this Prospectus shall expire when this
Prospectus is no longer valid.
The Notes in bearer form are subject to U.S. tax law requirements and may not be offered, sold or delivered within
the United States or its possessions or to United States persons, except in certain transactions permitted by United States
Treasury Regulations. Terms used in this paragraph have the meanings given to them by the U.S. Internal Revenue Code
and the regulations promulgated thereunder.
This Prospectus does not constitute an offer to sell or the solicitation of an offer to buy any Notes in any
jurisdiction to any person to whom it is unlawful to make the offer or solicitation in such jurisdiction. The distribution of
this Prospectus and the offer or sale of Notes may be restricted by law in certain jurisdictions. The Issuer and the Dealers
do not represent that this Prospectus may be lawfully distributed, or that any Notes may be lawfully offered, in compliance
with any applicable registration or other requirements in any such jurisdiction, or pursuant to an exemption available
thereunder, or assume any responsibility for facilitating any such distribution or offering. In particular, no action has been
taken by the Issuer or the Dealers which would permit a public offering of any Notes in any jurisdiction other than a
iv



Member State of the EEA or the UK or distribution of this document in any jurisdiction where action for that purpose is
required. Accordingly, no Notes may be offered or sold, directly or indirectly, and neither this Prospectus nor any
advertisement or other offering material may be distributed or published in any jurisdiction, except under circumstances
that will result in compliance with any applicable laws and regulations. Persons into whose possession this Prospectus or
any Notes may come must inform themselves about, and observe, any such restrictions on the distribution of this
Prospectus and the offering and sale of Notes. In particular, there are restrictions on the distribution of this Prospectus and
the offer or sale of Notes in the United States, the EEA (and, in particular, without limitation, in Luxembourg, France, Ital y
and the Netherlands), the UK, Australia, Brazil, Chile, Dubai, Hong Kong, Japan, Peru, Singapore and Switzerland (see
"Transfer and Selling Restrictions"). In making an investment decision, investors must rely on their own examination of
the Issuer and the terms of the Notes being offered, including the merits and risks involved. The Notes have not been
approved or disapproved by the United States Securities and Exchange Commission (the "SEC") or any other securities
commission or other regulatory authority in the United States, nor have the foregoing authorities approved this Prospectus
or confirmed the accuracy or the adequacy of the information contained in this Prospectus. Any representation to the
contrary is unlawful.
In particular, Notes have not been and will not be registered under the Securities Act, and may not be offered or
sold in the United States or to, or for the account or benefit of, U.S. persons unless the Notes are registered under the
Securities Act or an exemption from the registration requirements of the Securities Act is available. See "Description of the
Notes--Forms of Notes" for a description of the manner in which Notes will be issued. Registered Notes are subject to
certain restrictions on transfer (see "Transfer and Selling Restrictions"). Registered Notes may be offered or sold within the
United States only to QIBs in transactions exempt from registration under the Securities Act (see "U.S. Information"
below).
Neither this Prospectus nor any Final Terms may be used for the purpose of an offer or solicitation by anyone in
any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make such
an offer or solicitation.
Neither this Prospectus nor any Final Terms should be considered as a recommendation or a statement of an
opinion (or a report of either of those things) by Bci, the Dealers or any of them that any recipient of this Prospectus or any
Final Terms should subscribe for or purchase any Notes. Each recipient of this Prospectus or any Final Terms shall be
taken to have made its own appraisal of the condition (financial or otherwise) of the Issuer.
None of the Dealers or the Issuer makes any representation to any purchaser of the Notes regarding the legality of
its investment under any applicable laws. Any purchaser of the Notes should be able to bear the economic risk of an
investment in the Notes for an indefinite period of time.
The Dealers have not separately verified the information contained herein. Accordingly, no representation,
warranty or undertaking, express or implied, is made and no responsibility is accepted by the Dealers as to the accuracy or
completeness of the information contained in this Prospectus or any other information provided by the Issuer. The Dealers
do not accept any liability in relation to the information contained in this Prospectus or any other information provided by
the Issuer in connection with the Program.
U.S. Information
This Prospectus is being submitted on a confidential basis in the United States to a limited number of QIBs (as
defined under "Description of the Notes--Forms of Notes") for informational use solely in connection with the
consideration of the purchase of the Notes being offered hereby. Its use for any other purpose in the United States is not
authorized. It may not be copied or reproduced in whole or in part nor may it be distributed or any of its contents disclosed
to anyone other than the prospective investors to whom it is originally submitted.
Registered Notes may be offered or sold within the United States only to QIBs in transactions exempt from
registration under the Securities Act. Each U.S. purchaser of Registered Notes is hereby notified that the offer and sale of
any Registered Notes to it may be made in reliance upon the exemption from the registration requirements of the Securities
Act provided by Rule 144A.
Each purchaser or Noteholder represented by a Rule 144A Global Note (as defined under "Registered Notes"
below) or any Notes issued in registered form in exchange or substitution therefor (together "Legended Notes") will be
deemed, by its acceptance or purchase of any such Legended Notes, to have made certain representations and agreements
intended to restrict the resale or other transfer of such Notes as set out in "Transfer and Selling Restrictions." Unless
v



otherwise stated, terms used in this paragraph have the meanings given to them in "Description of the Notes--Forms of
Notes."
Interest and/or other amounts payable under the Notes may be calculated by reference to certain reference rates.
Any such reference rate may constitute a benchmark for the purposes of Regulation (EU) 2016/1011 (the "BMR"). If any
such reference rate does constitute such a benchmark, the relevant Final Terms will indicate whether or not the benchmark
is provided by an administrator included in the register of administrators and benchmarks established and maintained by the
European Securities and Markets Authority ("ESMA") pursuant to Article 36 (Register of administrators and benchmarks)
of the BMR. Transitional provisions in the BMR may have the result that the administrator of a particular benchmark is not
required to appear in the register of administrators and benchmarks at the date of the relevant Final Terms. The registration
status of any administrator under the BMR is a matter of public record and, save where required by applicable law, the
Issuer does not intend to update the relevant Final Terms to reflect any change in the registration status of the administrator.
Amounts payable under the Notes may be calculated by reference to the London Interbank Offered Rate
("LIBOR"), the Euro Interbank Offered Rate ("EURIBOR"), which are provided by ICE Benchmark Administration
Limited and the European Money Markets Institute, respectively, or other reference rates described in this Prospectus. As
of the date of this Prospectus, the European Money Markets Institute does not appear on the register of administrators and
benchmarks established and maintained by the European Securities and Markets Authority pursuant to article 36 of the
BMR.
As far as the Bank is aware, the transitional provisions in Article 51 of the BMR apply, such that ICE Benchmark
Administration Limited and the European Money Markets Institute are not currently required to obtain authorization or
registration (or, if located outside the European Union, recognition, endorsement or equivalence).
Any websites hyperlinks included in this Prospectus are for information purposes only and do not form part of this
Prospectus.
NOTICE TO PROSPECTIVE INVESTORS IN CHILE
The Notes will not be registered in the securities registry (registro de valores) of the Financial Market
Commission (Comisión para el Mercado Financiero) ("CMF"), and, therefore, the Notes are not subject to the supervision
of the CMF as unregistered securities, we are not required to disclose public information about the Notes in Chile.
Accordingly, the Notes cannot and will not be publicly offered to persons in Chile. The Notes may only be offered in Chile
in circumstances that do not constitute a "Public Offering" (as defined under Law No. 18,045 on securities market
("Chilean securities market law")). The Notes may be privately offered in Chile to certain Chilean "Qualified Investors"
(such as banks, pension funds and insurance companies) which are required to comply with specific restrictions relating to
the purchase of the Notes.
NOTIFICATION UNDER SECTION 309B OF THE SECURITIES AND FUTURES ACT
(CHAPTER 289) OF SINGAPORE
Unless otherwise stated in the Final Terms, in connection with Section 309B of the Securities and Futures Act
(Chapter 289) of Singapore, as modified or amended from time to time (the "SFA") and the Securities and Futures (Capital
Markets Products) Regulations 2018 of Singapore (the "CMP Regulations 2018"), the Issuer has determined the
classification of the Notes as prescribed capital markets products (as defined in the CMP Regulations 2018) and Excluded
Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice
FAA-N16: Notice on Recommendations on Investment Products).
PROHIBITION OF SALES TO RETAIL INVESTORS IN THE UNITED KINGDOM
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 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 EUWA; or (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. 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 Notes or otherwise making
them available to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise
vi



making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
ADDITIONAL NOTICE TO INVESTORS IN THE UNITED KINGDOM
This Prospectus is only being distributed to, and is only directed at, persons in the UK that are "qualified
investors" within the meaning Regulation (EU) 2017/1129, as amended, as it forms part of domestic law by virtue of the
EUWA and that also (i) are "investment professionals" as defined in Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order"), (ii) are persons falling within Article 49(2)(a) to
(d) ("high net worth companies, unincorporated associations, etc.") of the Order, or (iii) are persons to whom an invitation
or inducement to engage in investment activity (within the meaning of Section 21 of the FSMA) in connection with the
issue or sale of any Notes may otherwise lawfully be communicated or caused to be communicated (all such persons
together being referred to as "relevant persons"). In the UK, this Prospectus is directed only at relevant persons and must
not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this
Prospectus relates is available in the UK only to relevant persons and will be engaged in only with relevant persons.
PROHIBITION OF SALES TO EEA AND UK 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 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
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. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as
amended, 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.
MIFID II PRODUCT GOVERNANCE / TARGET MARKET
The Final Terms in respect of any Notes may include a legend entitled "MiFID II Product Governance" which will
outline the target market assessment in respect of the Notes and which channels for distribution of the Notes are
appropriate. Any person subject to MiFID II subsequently offering, selling or recommending the Notes (a "distributor")
should take into consideration the 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 target market
assessment) and determining appropriate distribution channels.
A determination will be made in relation to each issue about whether, for the purpose of the MiFID Product
Governance rules under EU Delegated Directive 2017/593 (the "MiFID Product Governance Rules"), any Dealer
subscribing for any Notes is a manufacturer in respect of such Notes, but otherwise neither the Arranger nor the Dealers nor
any of their respective affiliates will be a manufacturer for the purpose of the MIFID Product Governance Rules.
UK MIFIR PRODUCT GOVERNANCE/TARGET MARKET
The Final Terms in respect of any Notes may include a legend entitled "UK MiFIR Product Governance" which will
outline the target market assessment in respect of the Notes and which channels for distribution of the Notes are
appropriate. Any person subsequently offering, selling or recommending the Notes (a "distributor") should take into
consideration the 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 target market assessment) and
determining appropriate distribution channels.

A determination will be made in relation to each issue about whether, for the purpose of the UK MiFIR Product
Governance Rules, any Dealer subscribing for any Notes is a manufacturer in respect of such Notes, but otherwise neither
the Arranger nor the Dealers nor any of their respective affiliates will be a manufacturer for the purpose of the UK MIFIR
Product Governance Rules.

vii



RATINGS
As of the date of this Prospectus, Moody's Investors Service, Inc. ("Moody's") has assigned an A2 senior
unsecured debt rating to the Bank and Standard & Poor's International LLC ("Standard & Poor's") has assigned an A
long-term foreign issuer credit rating to the Bank.
Moody's and Standard & Poor's are not incorporated in the European Union or currently registered in accordance
with the Regulation (EC) No. 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit
rating agencies, amended by Regulation (EC) No. 513/2011, Directive 2011/61/EU and Regulation (EU) No. 462/2013 (the
"CRA Regulation"), nor have the ratings given by these agencies been endorsed by a credit rating agency established in
the European Union and registered under the CRA Regulation. The European Securities and Markets Authority publishes
on its website (www.esma.europa.eu) a list of credit rating agencies registered in accordance with the CRA Regulation.
That list is updated within five working days following the adoption of a decision under Article 16, 17 or 20 of the CRA
Regulation. The European Commission shall publish that updated list in the Official Journal of the European Union within
30 days following such update.
The rating of a certain Series or Tranche of Notes to be issued under the Program may be specified in the
applicable Final Terms. Whether or not each credit rating applied for in relation to a relevant Series or Tranche of Notes
will be issued by a credit rating agency established in the European Union and registered under the CRA Regulation will be
disclosed clearly and prominently in the Final Terms.
A rating is not a recommendation to buy, sell or hold Notes issued under the Program and may be subject to
suspension, reduction or withdrawal at any time by the assigning rating agency. A suspension, reduction or withdrawal of
the rating assigned to the Bank may adversely affect the market price of the Notes issued under the Program.
AVAILABLE INFORMATION
To permit compliance with Rule 144A in connection with any resales or other transfers of Notes that are
"restricted securities" within the meaning of the Securities Act, the Issuer has undertaken in the Dealer Agreement dated
July 25, 2016 (the "Dealer Agreement") to furnish, upon the request of a holder of such Notes or any beneficial interest
therein, to such holder or to a prospective purchaser designated by him, the information required to be delivered under Rule
144A(d)(4) under the Securities Act if, at the time of the request, the Issuer is neither a reporting company under Section 13
or 15(d) of the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act") nor exempt from reporting
pursuant to Rule 12g3-2(b) thereunder.
viii




CERTAIN TERMS AND CONVENTIONS
General
Unless otherwise indicated or the context otherwise requires, all references in this Prospectus to the "Bank," "we,"
"our," "ours," "us" or similar terms refer to Banco de Crédito e Inversiones together with its Miami branch and its
consolidated subsidiaries. We conduct our Chilean commercial banking activities through Bci and various non-banking
activities through subsidiaries. See "Business." "City National Bank of Florida" or "CNB" refer to our subsidiary City
National Bank of Florida and its subsidiaries, unless the context otherwise requires.
Currency Presentation
In this Prospectus, references to "US$," "U.S. dollars" and "dollars" are to United States dollars, references to
"Chilean pesos", "pesos" or "Ch$" are to Chilean pesos, references to "CHF" are to Swiss francs and references to "JPY"
are to the Japanese Yen.
References to "UF" are to Unidades de Fomento. The UF is an inflation-indexed Chilean monetary unit with a
value in Chilean pesos that is adjusted daily to reflect changes in the official consumer price index of the Instituto Nacional
de Estadísticas (the "Chilean National Institute of Statistics"). The UF is revalued in monthly cycles. Each day in the
period beginning on the tenth day of the current month through the ninth day of the succeeding month, the nominal peso
value of the UF is indexed up (or down in the event of deflation) in order to reflect a proportionate amount of the change in
the Chilean consumer price index during the prior calendar month. As of December 31, 2018, 2019 and 2020, the value of
the UF was Ch$27,546.22, Ch$28,309.94 and Ch$29,070.33, respectively.
This Prospectus contains translations of certain Chilean peso amounts into U.S. dollars at specified rates solely for
the convenience of the reader. These translations should not be construed as representations that the Chilean peso amounts
actually represent such U.S. dollar amounts or could be converted into U.S. dollars at the rates indicated, at any particular
rate or at all.
Unless otherwise indicated, the exchange rate used in converting Chilean pesos into U.S. dollars for amounts
presented as of and for the years ended December 31, 2018, 2019 and 2020, as the case may be, were based on the observed
exchange rate (dólar observado) reported by the Central Bank of Chile (Banco Central de Chile) for December 31, 2018,
which was Ch$694.77 per US$1.00, December 31, 2019, which was Ch$748.74 per US$1.00 and December 31, 2020,
which was Ch$710.95 per US$1.00, respectively.
The rates reported by the Central Bank of Chile for December 31, 2018, 2019 and 2020 are based upon the
observed exchange rate which it publishes on the first business day following the respective date. The Federal Reserve
Bank of New York (the "FRBNY") does not report a noon buying rate for pesos. See "Exchange Rates" for additional
information regarding rates of exchange.
ix




ENFORCEMENT OF CIVIL LIABILITIES
We are an open stock corporation (sociedad anónima abierta) organized under the laws of Chile and are licensed
as a commercial bank by the CMF. Substantially all of our directors and officers and certain experts named herein reside
outside the United States (principally in Chile). A substantial portion of our assets and the assets of these persons are
located outside the United States. As a result, it may not be possible for investors to effect service of process within the
United States upon us or such persons or to enforce against us or them in U.S. courts judgments predicated upon the civil
liability provisions of the laws of jurisdictions other than Chile, including any judgments predicated upon the civil liability
provisions of the federal securities laws of the United States.
We have been advised by our external Chilean counsel that no treaty exists between the United States and Chile
for the reciprocal enforcement of foreign judgments. Chilean courts would enforce judgments rendered by U.S. courts by
virtue of the legal principles of reciprocity and comity, subject to review in Chile of any such U.S. judgment in order to
ascertain whether certain basic principles of due process and public policy have been respected, without retrial or review of
the merits of the subject matter. If a U.S. court grants a final judgment, enforceability of this judgment in Chile will be
subject to obtaining the relevant exequatur (i.e., recognition and enforcement of the foreign judgment) according to Chilean
civil procedure law in force at that time and satisfying certain legal requirements. Currently, the most important of these
requirements are:
the existence of reciprocity, absent which the foreign judgment may not be enforced in Chile;
the absence of any conflict between the foreign judgment and Chilean law (excluding for this purpose the
laws of civil procedure) and public policy;
the absence of a conflicting judgment by a Chilean court relating to the same parties and arising from the
same facts and circumstances;
the observance of all applicable laws to serve process on the defendant and protect the defendant's right to
defense; and
the absence of any further means for appeal or review of the judgment in the jurisdiction where judgment was
rendered.
We have been advised by our external Chilean counsel that there is doubt as to the enforceability, in original
actions in Chilean courts, of liabilities predicated solely on the U.S. federal securities laws and as to the enforceability in
Chilean courts of judgments of U.S. courts obtained in actions predicated upon the civil liability provisions of the U.S.
federal securities laws.
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