Bond Crédit Agricole SA 0.5% ( CH0435590382 ) in CHF

Crédit Agricole SA

100 % ▲

France

CH0435590382 ( in CHF )

0.5% per year ( payment 1 time a year)

02/10/2028

Prospectus brochure of the bond Crédit Agricole CH0435590382 en CHF 0.5%, maturity 02/10/2028

5 000 CHF

150 000 000 CHF

03/10/2026 ( In 333 days )

Crédit Agricole is a French multinational cooperative banking group with a global presence, offering a wide range of financial services including retail banking, investment banking, and asset management.

The Bond issued by Crédit Agricole SA ( France ) , in CHF, with the ISIN code CH0435590382, pays a coupon of 0.5% per year.
The coupons are paid 1 time per year and the Bond maturity is 02/10/2028

Final Terms dated 1st October 2018

CRÉDIT AGRICOLE HOME LOAN SFH

Issue of CHF 150,000,000 0.50 per cent. Covered Bonds due 3rd October 2028
extendible as Floating Rate Covered Bonds up to 3rd October 2029
under the 35,000,000,000 Covered Bond Program

Issue Price: 100.905 per cent.

Joint Lead Managers
Crédit Agricole Corporate and Investment Bank
UBS AG

MIFID II PRODUCT GOVERNANCE / RETAIL INVESTORS, PROFESSIONAL INVESTORS AND ECPS
TARGET MARKET Solely for the purposes of the EEA domiciled manufacturer's product approval process,
the target market assessment in respect of the Covered Bonds taking into account the five categories referred to in
item 18 of the Guidelines published by ESMA on 5 February 2018 has led to the conclusion that: (i) the target
market for the Covered Bonds is eligible counterparties, professional clients and retail clients, each as defined in
Directive 2014/65/EU, as amended ("MiFID II"); and (ii) all channels for distribution of the Covered Bonds to
eligible counterparties and professional clients are appropriate; and (iii) the following channels for distribution of
the Covered Bonds to retail clients are appropriate investment advice, and portfolio management, non-advised
sales and pure execution services subject to the distributor's suitability and appropriateness obligations under
MiFID II, as applicable. Any person subsequently offering, selling or recommending the Covered Bonds (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 Covered
Bonds (by either adopting or refining the manufacturer's target market assessment) and determining appropriate
distribution channels, subject to the distributor's suitability and appropriateness obligations under MiFID II, as
applicable. The Covered Bonds will be offered to the public in Switzerland solely.

WS0101.27980612.1

2.

PART A CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions (the
"Conditions") set forth in the base prospectus dated 7 February 2018 which received visa no. 18-035 from the
Autorité des marchés financiers (the "AMF") on 7 February 2018, the first supplement to the base prospectus
dated 11 April 2018 which received visa no. 18-129 from the AMF on 11 April 2018, the second supplement to
the base prospectus dated 1st June 2018 which received visa no. 18-222 from the AMF on 1st June 2018 and the
third supplement to the base prospectus dated 25 September 2018 which received visa no. 18-454 from the AMF
on 25 September 2018 which together constitute a base prospectus (the "Base Prospectus") for the purposes of
the Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003, as amended (the
"Prospectus Directive").
This document constitutes the final terms of the Covered Bonds (the "Final Terms") described herein for the
purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with such Base Prospectus.
Full information on the Issuer and the Covered Bonds is only available on the basis of the combination of these
Final Terms, the Base Prospectus and the Swiss Listing Prospectus dated 1st October 2018 (the "Swiss Listing
Prospectus"). The Base Prospectus and these Final Terms are available for viewing on the websites of Crédit
Agricole S.A. (www.credit-agricole.com) and of the AMF (www.amf-france.org), and during normal business
hours at the registered office of the Issuer and at the specified office of the Swiss Principal Paying Agent (as
defined below) where copies may be obtained. In addition, the Final Terms and the Swiss Listing Prospectus,
which is solely relevant for listing of the Covered Bonds on SIX Swiss Exchange Ltd., (the "SIX Swiss
Exchange"), is available for viewing at UBS AG, Investment Bank, Swiss Prospectus Switzerland, P.O. Box, 8098
Zurich, Switzerland, or can be ordered by telephone +41-44-239 47 03 (voicemail), fax +41-44-239 69 14 or by
e-mail [email protected]

1.
Issuer:
Crédit Agricole Home Loan SFH
2.
(i)
Series Number:
67

(ii)
Tranche Number:
1

(iii)
Date on which the Covered Bonds will
be assimilated (assimilables) and form a single
series:
Not Applicable
3.
Specified Currency:
Swiss Francs ("CHF")
4.
Aggregate Nominal Amount of Covered Bonds:

(i)
Series:
CHF 150,000,000

(ii)
Tranche:
CHF 150,000,000
5.
Issue Price:
100.905 per cent. of the Aggregate Nominal
Amount
6.
Specified Denominations:
CHF 5,000, CHF 100,000 and CHF 1,000,000
7.
(i)
Issue Date:
3rd October 2018

(ii)
Interest Commencement Date:
Issue Date
8.
Final Maturity Date:
3rd October 2028
The Covered Bonds having a soft bullet maturity,
in accordance with Condition 7(a) will be
redeemed at the Final Maturity Date unless their

3.

maturity is extended to the Extended Final
Maturity Date as specified below.
9.
Extended Final Maturity Date:
3rd October 2029
The Final Maturity Date will be extended
automatically to the Extended Final Maturity Date
if the Final Redemption Amount is not paid by the
Issuer on the Final Maturity Date. In such case the
payment of such Final Redemption Amount shall
be automatically deferred and shall become due
and payable on the Extended Final Maturity Date,
provided that (i) any amount representing the Final
Redemption Amount remaining unpaid on the
Final Maturity Date may be paid by the Issuer on
any Specified Interest Payment Date thereafter and
(ii) interest will continue to accrue on any unpaid
amount during such extended period at the relevant
newly applicable Rate of Interest and be payable
on each relevant Specified Interest Payment Date.
10.
Interest Basis:
0.50 per cent. Fixed Rate for the period from and
including the Issue Date to but excluding the Final
Maturity Date (further particulars specified in
paragraph 15 below).
CHF LIBOR 1 month (or any successor rate
thereof) minus 0.04 per cent. per annum Floating
Rate for the period from and including the Final
Maturity Date to but excluding the Extended Final
Maturity Date, or if earlier the date on which the
Covered Bonds are redeemed in full (further
particulars specified in paragraph 16 below).

11.
Redemption/Payment Basis:
Subject to any purchase and cancellation or early
redemption, the Covered Bonds will be redeemed
at 100 per cent. of their nominal amount.

12.
Change of Interest Basis:
Applicable - Fixed/Floating Rate
Interest will accrue on a Fixed Rate basis until the
Final Maturity Date and on a Floating Rate basis
thereafter (further particulars specified in
paragraph 17 below).
13.
Put/Call Options:
Not Applicable

14.
Date of Board approval for issuance of Covered 19 December 2017, 18 June 2018 and 18
Bonds obtained:
September 2018
PROVISIONS RELATING TO INTEREST PAYABLE
15.
Fixed Rate Covered Bond Provisions:
Applicable until the Final Maturity Date

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

(ii)
Interest Payment Dates:
3rd October in each year commencing on 3rd
October 2019 up to and including the Final
Maturity Date.

4.

(iii)
Fixed Coupon Amount(s):
CHF 50
per
CHF 5,000
in
Specified
Denomination, CHF 500.00 per CHF 100,000 in
Specified Denomination and CHF 5,000.00 per
CHF 1,000,000 in Specified Denomination

(iv)
Broken Amount(s):
Not Applicable

(v)
Day Count Fraction:
30/360 (following, unadjusted)

(vi)
Determination Dates:
Not Applicable
16.
Floating Rate Covered Bond Provisions:
Applicable if the Final Maturity Date is extended
until the Extended Final Maturity Date.

(i)
Interest Period(s):
The period from and including the Final Maturity
Date to but excluding the first Specified Interest
Payment Date and each successive period from
and including a Specified Interest Payment Date to
but excluding the next succeeding Specified
Interest Payment Date, up to and excluding the
Extended Final Maturity Date or, if earlier the
Specified Interest Payment Date on which the
Covered Bonds are redeemed in full subject to
adjustment in accordance with the Business Day
Convention set out in (v) below.

(ii)
Specified Interest Payment Dates:
3rd day of each month from (and including) 3rd
November 2028 to (and including) 3rd October
2029, subject to adjustment in accordance with the
Business Day Convention set out in (v) below.

(iii)
First Interest Payment Date:
3rd November 2028

(iv)
Interest Period Date:
Not Applicable

(v)
Business Day Convention:
Actual/360 (following, modified)

(vi)
Business Centre(s) (Condition 6(a)):
Zurich and TARGET 2

(vii)
Manner in which the Rate(s) of Interest
is/are to be determined:
Screen Rate Determination

(viii)
Party responsible for calculating the
Rate(s) of Interest and/or Interest
Amount(s) (if not the Calculation
Agent):
Not Applicable

(ix)
Screen Rate Determination:
Applicable

Benchmark:
CHF LIBOR 1 month (or any successor rate
thereof)

Relevant Time:
11.00 am London Time

Interest Determination Dates:
Two (2) Zurich Business Days prior to the
beginning of each Interest Period
Primary Source:
Reuters, LIBOR03 (or any successor)

5.

Reference Banks (if Primary Source is "Reference Not Applicable
Banks"):

Relevant Financial Centre:
Zurich and TARGET2

Representative Amount:
Not Applicable

Effective Date:
Not Applicable

Specified Duration:
1 month

(x)
ISDA Determination:
Not Applicable

(xi)
Linear Interpolation:
Not Applicable

(xii)
Margin:
Minus 0.04 per cent. per annum

(xiii)
Minimum Rate of Interest:
0 per cent. per annum

(xiv)
Maximum Rate of Interest:
Not Applicable

(xv)
Day Count Fraction:
Actual/360
17.
Fixed/Floating Rate Covered Bonds Provisions: Applicable

(i)
Issuer Change of Interest Basis:
Not Applicable

(ii)
Automatic Change of Interest Basis:
Applicable

(iii)
Rate of Interest applicable to the
Interest Periods preceding the Switch
Date (excluded):
Determined in accordance with Condition 6(b), as
though the Covered Bonds were a Fixed Rate
Covered Bonds

(iv)
Rate of Interest applicable to the
Interest Periods following the Switch
Date (included):
Determined in accordance with Condition 6(c), as
though the Covered Bonds were a Floating Rate
Covered Bonds with further variables set out in item
16 of these Final Terms.

(v)
Switch Date:
Final Maturity Date

(vi)
Minimum notice period required for
notice from the Issuer:
Not Applicable
18.
Zero Coupon Covered Bond Provisions:
Not Applicable
PROVISIONS RELATING TO REDEMPTION
19.
Call Option:
Not Applicable

20.
Put Option:
Not Applicable
21.
Final Redemption Amount of each Covered
Bond:
CHF 5,000 in Specified Denomination, CHF
100,000 in Specified Denomination and CHF

6.

1,000,000 per CHF 5,000, CHF 100,000 and CHF
1,000,000 in Specified Denomination respectively

22.
Early Redemption Amount:

Early Redemption Amount(s) of each Covered
Bond payable on redemption for taxation reasons,
illegality or on event of default:
Applicable
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
23.
Form of Covered Bonds:
Materialised Covered Bonds

(i)
Form of Dematerialised Covered Bonds:
Not Applicable

(ii)
Registration Agent:
Not Applicable

(iii)
Temporary Global Certificate:
The Covered Bonds will be represented by a
temporary global certificate without interest
coupons (the "Temporary Global Certificate"),
which will initially be issued and deposited with
SIX SIS AG, Olten, Switzerland, the Swiss
Securities Services Corporation in Olten,
Switzerland ("SIX SIS AG") or any other
intermediary in Switzerland recognized for such
purposes by SIX Swiss Exchange Ltd (SIX SIS
AG or any such other intermediary, the
"Intermediary") until the printing of the
definitive materialised covered bonds (the
"Definitive Materialised Covered Bonds").

(iv)
Definitive Materialised Covered Bond:
The Temporary Global Certificate shall be
exchangeable
for
Definitive
Materialised
Covered Bonds on or after 12 November 2018
(the "Exchange Date"), being forty (40) days
after the Issue Date subject to postponement as
specified in the Temporary Global Certificate.
Each Bondholder shall have a quotal co-
ownership interest (Miteigentumsanteil) in the
Temporary Global Certificate to the extent of his
claims against the Issuer until the Exchange Date.

As long as the Temporary Global Certificate or
the definitive Materialised Bearer Notes are
deposited with the Intermediary, the provisions of
the Swiss Federal Intermediated Securities Act
(Loi sur les titres intermédiés) shall be applicable.

The Definitive Materialised Covered Bonds will
be printed free of charge for the Bondholders.

24.
Financial Centre(s):
Zurich
25.
Talons for future Coupons or Receipts to be
attached to Definitive Materialised Covered Bonds
(and dates on which such Talons mature):
Not Applicable

7.

26.
Details relating to Instalment Covered Bonds:
amount of each instalment, date on which each
payment is to be made:
Not Applicable
27.
Masse (Condition 12):
Contractual Masse shall apply
Name and address of the Representative: F&S
Financial Services, Vincent Fabié, domiciled at 8
rue du Mont-Thabor, 75001 Paris, France.
Name and address of the alternate Representative:
Aether Financial Services, 36 rue de Monceau,
75008 Paris, France
The Representative will receive a remuneration of
Euro 400 per year.
28.
Prohibition of Sales to EEA Retail Investors:
Not Applicable
29.
Other Final Terms:
For the purpose of this Series of Covered
Bonds only, the following shall be added to the
opening lines of the Conditions:
"For the purpose of the Covered Bonds the Issuer
has, together with UBS AG (the "Swiss Principal
Paying Agent") and the other parties named
therein, entered into a supplemental agency
agreement dated 1st October 2018 (the
"Supplemental Agency Agreement").
For the purpose of the Covered Bonds, any
reference in the Conditions of the Covered Bonds
to the "Fiscal Agent", "Principal Paying Agent",
the "Paying Agent" or the "Calculation Agent"
shall, so far as the context permits, be construed
as reference to the Swiss Principal Paying Agent.

In relation to the Covered Bonds the address of the
Swiss Principal Paying Agent is UBS AG,
Bahnhofstrasse 45, 8001 Zurich, Switzerland ."
For the purpose of this Series of Covered
Bonds only, Condition 8 shall be supplemented
as follows:
"In respect of the Covered Bonds, the Issuer will
at all times maintain a Paying Agent having a
specified office in Switzerland and (in respect of
this Series of Covered Bonds only) will at no time
maintain a Paying Agent having a specified office
outside of Switzerland, unless permitted by
applicable law. The Supplemental Agency
Agreement (as defined above) will also contain
certain other modifications to the Agency
Agreement, necessary as a consequence of the
issue of Covered Bonds denominated in Swiss
Francs and listed on the SIX Swiss Exchange.
Payments of principal and interest in respect of
Covered Bonds denominated in Swiss Francs will
be made in freely disposable Swiss Francs
without collection costs in Switzerland and
without any restrictions and irrespective of
nationality, domicile or residence of a
Bondholder or Couponholder and without

9.

PART B OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING
(i)
Listing:
SIX Swiss Exchange Ltd.

(ii)
(a)
Admission
to
trading:
Application has been made by the Issuer (or on its behalf) for the
Covered Bonds to be provisionally admitted to trading on the
SIX Swiss Exchange with effect from 1st October 2018; last day
of trading expected to be 29 September 2028, unless their
maturity is extended to the Extended Final Maturity Date.
(b)
Regulated

Markets
or

equivalent markets

on which, to the

knowledge of the

Issuer, securities of

the same class of the

Covered Bonds to

be
admitted
to

trading are already

admitted to trading:
Not Applicable
(iii)
Estimate of total
expenses related to
admission
to
trading:
Not Applicable
2.
RATINGS
Ratings:
The Covered Bonds to be issued are expected to be rated:
S&P Global Ratings: AAA
Moody's Investors Service Ltd.: Aaa
Fitch Ratings: AAA
Each of S&P Global Ratings, Moody's Investors Service Ltd. and
Fitch Ratings is established in the European Union, registered under
Regulation (EU) No 1060/2009, as amended (the "CRA
Regulation") and included in the list of registered credit rating
agencies published by the European Securities and Markets
Authority on its website (www.esma.europa.eu/supervision/credit-
rating-agencies/risk) in accordance with CRA Regulation.

3.
SPECIFIC CONTROLLER
The specific controller (contrôleur spécifique) shall deliver to the Issuer (i) for each quarter a certificate
relating to the borrowing program for the relevant quarter and, (ii) in case of issue of Covered Bonds
equals or exceeds Euro 500,000,000 or its equivalent in any other currency, a certificate relating to such
an issue.
4.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for any fees payable to the Joint Lead Managers in connection with the Issue of the Covered Bonds,
so far as the Issuer is aware, no person involved in the offer of the Covered Bonds has an interest material
to the issue. The Joint Lead Managers and their affiliates have engaged, and may in the future engage, in

10.

investment banking and/or commercial banking transactions with, and may perform other services for,
the Issuer and its affiliates in the ordinary course of business.
5.
YIELD
Indication of yield:
0.4075 per cent. per annum for the Fixed Rate period.

The yield is calculated at the Issue Date on the basis of the Issue
Price. It is not an indication of future yield.
6.
HISTORIC INTEREST RATES - FLOATING RATE COVERED BONDS ONLY
Details of historic CHF LIBOR rates can be obtained from Bloomberg BBAM, Official ICE Libor Fixings
(Digital), CHF rates (or any successor page thereof).
7.
OPERATIONAL INFORMATION
Intended to be held in a manner

which would allow Eurosystem

eligibility
No. Whilst the designation is specified as "no" at the date of these
Final Terms, should the Eurosystem eligibility criteria be amended
in the future such that the Covered Bonds are capable of meeting
them the Covered Bonds may then be deposited with one of the
ICSDs as common safekeeper. Note that this does not necessarily
mean that the Covered Bonds will then be recognized as eligible
collateral for Eurosystem monetary policy and intra day credit
operations by the Eurosystem at any time during their life. Such
recognition will depend upon the ECB being satisfied that
Eurosystem eligibility criteria have been met.
ISIN:
CH0435590382
Common Code:
188268633
Depositaries:

(i) Euroclear France to act as
Central Depositary
No

(ii)
Common
Depositary
for
Euroclear Bank and Clearstream
Banking, société anonyme
No
Any clearing system(s) other than
Euroclear Bank S.A./N.V. and
Clearstream
Banking,
société
anonyme
and
the
relevant
identification number(s):
SIX SIS AG, the Swiss Securities Services Corporation in Olten,
Switzerland
Swiss Security Number: 43.559.038
Delivery:
Delivery against payment
Names and addresses of Swiss
Principal Paying Agent:
UBS AG
Bahnhofstrasse 45
8001 Zurich
Switzerland