Bond Groupe BPCE 0.5% ( FR0013455540 ) in EUR

Issuer Groupe BPCE
Market price refresh price now   95.66 %  ▲ 
Country  France
ISIN code  FR0013455540 ( in EUR )
Interest rate 0.5% per year ( payment 1 time a year)
Maturity 23/02/2027



Prospectus brochure of the bond BPCE FR0013455540 en EUR 0.5%, maturity 23/02/2027


Minimal amount /
Total amount /
Next Coupon 24/02/2027 ( In 335 days )
Detailed description The second-largest banking group in France, comprising the Banque Populaire and Caisse d'Épargne networks.

BPCE issued a EUR-denominated bond (ISIN: FR0013455540) currently trading at 94.65% of its face value, offering a 0.5% coupon rate with annual payments, maturing on February 23, 2027.







MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ELIGIBLE
COUNTERPARTIES ONLY TARGET MARKET ­ Solely for the purposes of each manufacturer's product
approval process, the target market assessment in respect of the Notes, 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 Notes is eligible counterparties and professional clients only, each as defined in
Directive 2014/65/EU (as amended, "MiFID II"); and (ii) all channels for distribution of the Notes to eligible
counterparties and professional clients are appropriate. Any person subsequently offering, selling or
recommending the Notes (a "distributor") should take into consideration the manufacturers' 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 manufacturers' target market assessment)
and determining appropriate distribution channels.







Final Terms dated 22 October 2019


BPCE
Legal Entity Identifier (LEI): 9695005MSX1OYEMGDF46

Euro 40,000,000,000
Euro Medium Term Note Programme
for the issue of Notes

SERIES NO: 2019-52
TRANCHE NO: 1
Euro 1,000,000,000 0.500 per cent. Senior Non-Preferred Notes due 24 February 2027 (the "Notes")


Lead Manager and Sole Bookrunner
Natixis

Joint Lead Managers
BayernLB
Erste Group Bank AG
Morgan Stanley

Co-Lead Managers
Banco de Sabadell
DZ BANK AG
NORD/LB
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PART A ­ CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the "Conditions")
set forth in the base prospectus dated 21 November 2018 which received visa n°18-528 from the Autorité des
marchés financiers (the "AMF") on 21 November 2018 (the "Base Prospectus") and the first supplement to
the Base Prospectus dated 1 March 2019 which received visa n°19-068 from the AMF, the second supplement
to the Base Prospectus dated 16 April 2019 which received visa n°19-164 from the AMF, the third supplement
to the Base Prospectus dated 21 May 2019 which received visa n°19-217 from the AMF, the fourth supplement
to the Base Prospectus dated 13 August 2019 which received visa n°19-402 from the AMF and the fifth
supplement to the Base Prospectus dated 18 September 2019 which received visa n°19-445 from the AMF
(together, the "Supplements"), which together constitute a base prospectus for the purposes of the Prospectus
Directive.
This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the
Prospectus Directive and must be read in conjunction with such Base Prospectus as so supplemented. Full
information on the Issuer and the offer of the Notes is only available on the basis of the combination of these
Final Terms and the Base Prospectus as so supplemented. The Base Prospectus and the Supplements are
available for viewing at the office of the Fiscal Agent or each of the Paying Agents and on the website of the
AMF (www.amf-france.org) and copies may be obtained from BPCE, 50 avenue Pierre Mendès-France,
75013 Paris, France.

1
Issuer:
BPCE
2
(i)
Series Number:
2019-52
(ii) Tranche Number:
1
3
Specified Currency or Currencies:
Euro ("EUR")
4
Aggregate Nominal Amount:

(i)
Series:
EUR 1,000,000,000
(ii) Tranche:
EUR 1,000,000,000
5
Issue Price:
99.071 per cent. of the Aggregate Nominal Amount
6
Specified Denomination:
EUR 100,000
7
(i)
Issue Date:
24 October 2019

(ii) Interest Commencement Date:
Issue Date
8
Interest Basis:
0.500 per cent. Fixed Rate
(further particulars specified below)
9
Maturity Date:
24 February 2027
10 Redemption 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 Basis:
Not Applicable
12 Put/Call Options:
Not Applicable
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3


13 (i)
Status of the Notes:
Senior Non-Preferred Notes
(ii) Dates of the corporate authorisations for
issuance of Notes obtained:
Decision of the Directoire of the Issuer dated
2 April 2019
and
decision of Jean-Philippe
Berthaut, Responsable Emissions Groupe, dated 16
October 2019

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14 Fixed Rate Note Provisions:
Applicable
(i)
Rate of Interest:
0.500 per cent. per annum payable annually in arrear
on each Interest Payment Date
(ii) Interest Payment Date(s):
24 February in each year commencing on 24
February 2020 up to and including the Maturity
Date. There will be a short first coupon in respect of
the first Interest Period, from, and including, the
Interest Commencement Date to, but excluding, the
first Interest Payment Date
(iii) Fixed Coupon Amount:
EUR 500 per Note of EUR 100,000 Specified
Denomination, subject to the Broken Amount
specified in paragraph (iv) below
(iv) Broken Amount:
EUR 168.49 per Specified Denomination payable
on the Interest Payment Date falling on 24
February 2020
(v) Day Count Fraction:
Actual/Actual (ICMA), Unadjusted
(vi) Resettable:
Not Applicable
(vii) Determination Dates:
24 February in each year
(viii) Payments on Non-Business Days:
As per the Conditions
15 Floating Rate Note Provisions:
Not Applicable
16 Zero Coupon Note Provisions:
Not Applicable
17 Inflation Linked Interest Note Provisions:
Not Applicable
PROVISIONS RELATING TO REDEMPTION
18 Call Option:
Not Applicable
19 Put Option:
Not Applicable
20 MREL/TLAC Disqualification Event Call

Option:
Applicable
21 Final Redemption Amount of each Note:
EUR 100,000 per Note of EUR 100,000 Specified
Denomination
22 Inflation Linked Notes ­ Provisions relating to

the Final Redemption Amount:
Not Applicable
23 Early Redemption Amount:

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(i) Early Redemption Amount(s) of each
Senior Note payable on redemption upon
the occurrence of an MREL/TLAC
Disqualification Event (Condition 6(g)),
if applicable, a Withholding Tax Event
(Condition 6(i)(i)) or a Gross-Up Event
(Condition 6(i)(ii)):
EUR 100,000 per Note of EUR 100,000 Specified
Denomination

(ii) Early Redemption Amount(s) of each
Subordinated Note payable on

redemption upon the occurrence of a
Capital Event (Condition 6(h)), a
Withholding Tax Event (Condition
6(i)(i)), a Gross-Up Event (Condition
6(i)(ii)) or a Tax Deductibility Event
(Condition 6(i)(iii)):
Not Applicable

(iii) Redemption for taxation reasons
permitted on days others than Interest
Payment Dates (Condition 6(i)):
Yes

(iv) Unmatured Coupons to become void
upon early redemption (Materialised
Bearer Notes only) (Condition 7(f)):
Not Applicable

GENERAL PROVISIONS APPLICABLE TO THE NOTES
24 Form of Notes:
Dematerialised Notes

(i) Form of Dematerialised Notes:
Bearer form (au porteur)
(ii) Registration Agent:
Not Applicable
(iii) Temporary Global Certificate:
Not Applicable
(iv) Applicable TEFRA exemption:
Not Applicable
25 Financial Centre(s):
Not Applicable
26 Talons for future Coupons or Receipts to be

attached to Definitive Notes (and dates on

which such Talons mature):
Not Applicable
27 Details relating to Instalment Notes: amount of

each instalment, date on which each payment

is to be made:
Not Applicable
28 Redenomination provisions:
Not Applicable
29 Purchase in accordance with applicable French

laws and regulations:
Applicable
30 Consolidation provisions:
Not Applicable
31 Meeting and Voting Provisions (Condition 11):
Contractual Masse shall apply

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Name and address of the initial Representative:
As per Condition 11(c)

Name and address of the alternate Representative:
As per Condition 11(c)
The Representative will receive a remuneration of
Euro 2,000 (excluding VAT) per year so long as any
of the Notes remains outstanding.

RESPONSIBILITY
The Issuer accepts responsibility for the information contained in these Final Terms.
Signed on behalf of BPCE
Duly represented by:

Jean-Philippe Berthaut, Responsable Emissions Groupe
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PART B ­ OTHER INFORMATION
1
LISTING AND ADMISSION TO TRADING
(i)
Listing and Admission to

trading:
Application has been made by the Issuer (or on its behalf) for the
Notes to be listed and admitted to trading on Euronext Paris with
effect from the Issue Date.
(ii)
Estimate of total expenses
related to admission to trading: EUR 11,325 (including AMF fees)
2
RATINGS
Ratings:
The Notes to be issued are expected to be rated:
Fitch: A+

Moody's Investor Services: Baa2
S&P: A-

Each of Fitch, Moody's Investor Services and S&P 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
YIELD
Indication of yield:
0.630 per cent. per annum
The yield is calculated at the Issue Date on the basis of the Issue
Price. It is not an indication of future yield.
5
OPERATIONAL INFORMATION
ISIN:
FR0013455540
Common Code:
206899042
Depositaries:

(i)
Euroclear France to act as
Central Depositary:
Yes
(ii)
Common Depositary for
Euroclear and

Clearstream:
No
Any clearing system(s) other than
Euroclear and Clearstream and the
relevant identification number(s):
Not Applicable
Delivery:
Delivery against payment
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Names and addresses of additional
Paying Agent(s) (if any):
Not Applicable
6
DISTRIBUTION
(i)
Method of distribution:
Syndicated
(ii) If syndicated:

(a) Names of Managers:
Lead Manager and Sole Bookrunner
Natixis

Joint Lead Managers
Bayerische Landesbank
Erste Group Bank AG
Morgan Stanley & Co. International plc

Co-Lead Managers
Banco de Sabadell, S.A.
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt
am Main
Norddeutsche Landesbank ­ Girozentrale ­
(b) Stabilising Manager(s) if

any:
Not Applicable
(iii) If non-syndicated, name and
address of Dealer:
Not Applicable
(iv) Prohibition of Sales to EEA

Retail Investors:
Not Applicable
(v) US Selling Restrictions

(Categories of potential

investors to which the Notes

are offered):
Reg. S Compliance Category 2 applies to the Notes; TEFRA not
applicable

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Document Outline