Bond Crédit Agricole SA 4.4% ( FR0014008N23 ) in AUD

Crédit Agricole SA

100 % ⇌

France

FR0014008N23 ( in AUD )

4.4% per year ( payment 1 time a year)

24/02/2042

Prospectus brochure of the bond Crédit Agricole FR0014008N23 en AUD 4.4%, maturity 24/02/2042

200 000 AUD

110 000 000 AUD

24/02/2026 ( In 70 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 AUD, with the ISIN code FR0014008N23, pays a coupon of 4.4% per year.
The coupons are paid 1 time per year and the Bond maturity is 24/02/2042

MIFID II product governance / Professional investors and ECPs 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 (EU) 2014/65 (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.
UK MIFIR product governance / Professional investors and ECPs 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 (in accordance with the FCA's policy
statement entitled "Brexit our approach to EU non-legislative materials"), has led to the
conclusion that: (i) the target market for the Notes is only eligible counterparties, as defined in
the FCA Handbook Conduct of Business Sourcebook ("COBS"), and professional clients, as
defined in Regulation (EU) No 600/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MiFIR"); 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 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 manufacturers' target market assessment)
and determining appropriate distribution channels.

Final Terms dated 22 February 2022

Crédit Agricole S.A.
Legal Entity Identifier (LEI) of the Issuer:
969500TJ5KRTCJQWXH05

Euro 80,000,000,000
Euro Medium Term Note Programme

Series No.: 622
Tranche No.: 1
Issue of AUD 110,000,000 Subordinated Fixed Rate Notes due 24 February 2042
(the "Notes")
Issued by: Crédit Agricole S.A. (the "Issuer")

Lead Manager and Sole Bookrunner
Crédit Agricole CIB

Any person making or intending to make an offer of the Notes may only do so in circumstances
in which no obligation arises for the Issuer or any Dealer to publish a prospectus pursuant to
Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of
the Prospectus Regulation, in each case, in relation to such offer.
Neither the Issuer nor any Dealer has authorised, nor do they authorise, the making of any
offer of Notes in any other circumstances.
The expression "Prospectus Regulation" means Regulation (EU) No 2017/1129, as
amended.

2

Part A -- Contractual Terms
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions
set forth in "Terms and Conditions of the French Law Notes" in the base prospectus dated 12
April 2021 which has received approval no. 21-101 from the Autorité des marchés financiers
(the "AMF") on 12 April 2021, the first supplement to it dated 27 May 2021 which has received
approval no. 21-185 from the AMF on 27 May 2021, the second supplement to it dated 23
August 2021 which has received approval no. 21-366 from the AMF on 23 August 2021, the
third supplement to it dated 23 November 2021 which has received approval no. 21-501 from
the AMF on 23 November 2021, the fourth supplement to it dated 3 January 2022 which has
received approval no. 22-003 from the AMF on 3 January 2022 and the fifth supplement to it
dated 15 February 2022 which has received approval no. 22-031 from the AMF on 15 February
2022, which together constitute a base prospectus for the purposes of the Prospectus
Regulation (the "Base Prospectus"). This document constitutes the Final Terms of the Notes
described herein for the purposes of Article 8 of the Prospectus Regulation and must be read
in conjunction with the Base Prospectus. 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. The Base Prospectus is available for viewing on the website of the Issuer
(https://www.credit-agricole.com/finance/finance/dette/emissions-marche/credit-agricole-s.a.-
emissions-marche), on the website of the AMF (www.amf-france.org) and copies may be
obtained from Crédit Agricole S.A., 12, place des Etats-Unis, 92127 Montrouge Cedex,
France.

1.

Issuer:
Crédit Agricole S.A.
2.
(i)
Series Number:
622

(ii)
Tranche Number:
1

(iii)
Date on which the Notes Not Applicable
become fungible:
3.
Specified Currency or Currencies:
Australian Dollar ("AUD")
4.
Aggregate Nominal Amount:

(i)
Series:
AUD 110,000,000

(ii)
Tranche:
AUD 110,000,000
5.
Issue Price:
100.00 per cent. of the Aggregate
Nominal Amount
6.
Specified Denomination:
AUD 200,000
7.
(i)
Issue Date:
24 February 2022

(ii)
Interest Commencement Date: Issue Date
3

8.
Maturity Date:
24 February 2042
9.
Interest Basis:
4.40 per cent. Fixed Rate
(further particulars specified in
paragraph 15 below)
10.
Redemption Basis:
Subject to any purchase and
cancellation or early redemption, the
Notes will be redeemed on the Maturity
Date at 100.00 per cent. of their nominal
amount
11.

Change of Interest Basis:
Not Applicable
12.

Put/Call Options:
Not Applicable
13.

Status:
Subordinated Notes
14.
Dates of the corporate authorisations for Resolution of the Board of Directors of
issuance of the Notes:
the Issuer dated 9 February 2022 and
the Final Terms dated 22 February
2022 which constitute the décision
d'émission
Provisions Relating to Interest (if any) Payable

15.

Fixed Rate Note:
Applicable

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

(ii)
Interest Payment Dates:
24 February in each year from (and
including) 24 February 2023 up to (and
including) the Maturity Date

(iii)
Fixed Coupon Amount:
AUD 8,800 per Specified Denomination
payable on each Interest Payment Date

(iv)
Broken Amount:
Not Applicable

(v)
Day Count Fraction:
30/360, not adjusted

(vi)
Determination Dates:
Not Applicable

(vii)
Resettable:
Not Applicable
16.

Floating Rate Note:
Not Applicable
17.

Zero Coupon Note:
Not Applicable
18.

CMS Linked Note:
Not Applicable
4

19.

Inflation Linked Notes:
Not Applicable
Provisions Relating to Redemption

20.

Redemption at the Option of the Issuer Not Applicable
(Call Option):
21.

Clean-up Redemption Option:
Not Applicable
22.

Redemption at the Option of
Not Applicable
Noteholders (Put Option):
23.
(i)
MREL/TLAC Disqualification
Applicable
Event Call Option:

(ii)
Early Redemption Amount:
Final Redemption Amount
24.

Final Redemption Amount of each Note: Subject to any purchase and
cancellation or early redemption, the
Notes will be redeemed on the Maturity
Date at 100.00 per cent. of their
outstanding principal amount
25.

Early Redemption Amount of each Note: AUD 200,000 per Note of AUD 200,000
Specified Denomination
26.
Make-Whole Redemption Amount:
Not Applicable
General Provisions Applicable to the Notes

27.
(i)
Form of Notes (Bearer Notes): Dematerialised Notes

(ii)
Form of Dematerialised Notes: Bearer dematerialised form (au porteur)

(iii)
Registration Agent:
Not Applicable

(iv)
Temporary Global Certificate:
Not Applicable
28.

Exclusion of the possibility to request Not Applicable
identification of a Noteholder as
Provided by Condition 1(a):
29.

Financial Center:
Sydney
30.

Talons for future Coupons or Receipts Not Applicable
to be attached to Definitive Materialised
Bearer Notes (and dates on which such
Talons mature):
31.

Details relating to Instalment Notes:
Not Applicable
32.

Applicable tax regime:
Condition 8(a) applies
5

33.

Representation of holders of French Contractual Masse shall apply
Law Notes Masse:
Primary Appointed Representative: as
per the Conditions F&S Financial
Services, 8, rue du Mont Thabor, 75001
Paris, France
Alternate Appointed Representative: as
per the Conditions Aether Financial
Services, 36, rue de Monceau, 75008
Paris, France
Remuneration: as per the Conditions
the remuneration of the Primary
Appointed Representative or, as the
case may be, the Alternate Appointed
Representative, will be equal to
EUR 400 per year (excluding taxes),
payable as per the Conditions.
Responsibility
I hereby accept responsibility for the information contained in these Final Terms.
Signed on behalf of the Issuer on 22 February 2022

Duly represented by: Laurent Côte

Crédit Agricole Group Treasurer
6

PART B OTHER INFORMATION

1. LISTING AND ADMISSION TO TRADING
(i)
Listing:
Application has been made for the Notes to be admitted
to trading on Euronext Paris with effect from 24 February
2022.
(ii)
Estimate of total
EUR 13,300.00 (without tax)
expenses related to
admission to trading:
2. RATINGS

The Notes to be issued have been rated:
Standard & Poor's: BBB+
Moody's: Baa1
Fitch: A-
Standard & Poor's, Moody's and Fitch are established in
the European Union or in the United Kingdom and are
registered under Regulation (EC) No. 1060/2009
(the "CRA Regulation") or under the CRA Regulation as
it forms part of UK domestic law by virtue of the European
Union (Withdrawal) Act 2018 (the "EUWA"). As such,
Standard & Poor's, Moody's and Fitch are included in the
list of credit rating agencies published by the European
Securities and Market Authority on its website in
accordance with the CRA Regulation
(www.esma.europa.eu/supervision/credit-rating-
agencies/risk).
As defined by Standard & Poor's, a "BBB+" rating exhibits
adequate protection parameters. However, adverse
economic conditions or changing circumstances are
more likely to lead to a weakened capacity of the obligor
to meet its financial commitment on the obligation
(compared to a higher rating). The addition of a plus (+)
sign shows relative standing within that rating category.
Obligations rated "Baa1" by Moody's are judged to be
subject to moderate credit risk. They are considered
medium-grade and as such may possess speculative
7

characteristics. The modifier "1" indicates a ranking in the
higher end of that generic rating category.
As defined by Fitch, an "A-" rating denotes expectations
of low default risk. The capacity for payment of financial
commitments is considered strong. This capacity may,
nevertheless, be more vulnerable to adverse business or
economic conditions than is the case for higher ratings.
The modifier (-) indicates a ranking in the lower end of
that generic rating category.

3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save as discussed in "Subscription and Sale" in the Base Prospectus, so far as the Issuer is
aware, no person involved in the issue of the Notes has an interest material to the issue.
4. REASONS FOR THE OFFER AND ESTIMATED NET PROCEEDS
(i)
Reasons for the offer:
The net proceeds will be used for the Issuer's general
funding requirements
(ii)
Estimated net proceeds:
AUD 109,780,000
5. YIELD
Indication of yield:
4.40 per cent. per annum
The yield in respect of this issue of Fixed Rate Notes is
calculated on the basis of the Issue Price using the
following formula:
P=
C (1-(1+r)-n) + A(1+r)-n

r

where:
P
is the Issue Price of the Notes;
C
is the Interest Amount;
A
is the outstanding principal amount of Notes due
on redemption;
n
is time to maturity in year; and
r
is the yield.

As set out above, the yield is calculated at the Issue Date
on the basis of the Issue Price. It is not an indication of
future yield.
8

6. OPERATIONAL INFORMATION
(i)
ISIN:
FR0014008N23
(ii)
Common Code:
244837077
(iii)
Any clearing system(s) Euroclear France
other than Euroclear Bank
SA/NV and Clearstream
Banking Société Anonyme
and the relevant
identification number(s):
(iv)
Delivery:
Delivery against payment
(v)
Names and addresses of CACEIS Corporate Trust
Paying Agent(s) (including 14, rue Rouget de Lisle
any additional Paying 92682 Issy Les Moulineaux
Agent(s)):
Cedex 9 France
7. DISTRIBUTION
1. Method of distribution:
Non-syndicated
2. If syndicated,

(i)
Names of Managers Not Applicable
(specifying Lead
Manager):
(ii)
Date of Subscription Not Applicable
Agreement (if any):
(iii)
Stabilisation
Not Applicable
Manager(s) (if any):
3. If non-syndicated, name of Crédit Agricole Corporate and Investment Bank
Dealer:
4. Intermediary(ies) in secondary Not Applicable
trading:
5. U.S. Selling Restrictions:
Reg. S Compliance Category 2; TEFRA Not Applicable
6. Prohibition of Sales to EEA Not Applicable
Retail Investors under the
PRIIPs Regulation:

Prohibition of Sales to UK Not Applicable
Retail investors under the UK
PRIIPs Regulation:
7. Additional Selling Restrictions: Not Applicable
9

8. Specific Consent:
Not Applicable
9. General Consent:
Not Applicable

10

Document Outline

#3">Part A „ Contractual Terms