Bond SG Émetteur 0% ( LU1377592503 ) in USD

Issuer SG Émetteur
Market price 100 %  ▼ 
Country  Luxembourg
ISIN code  LU1377592503 ( in USD )
Interest rate 0%
Maturity 30/09/2022 - Bond has expired



Prospectus brochure of the bond SG ISSUER LU1377592503 in USD 0%, expired


Minimal amount /
Total amount /
Detailed description SG Issuer is a leading provider of digital issuance and management solutions for securities, focusing on blockchain technology and digital assets.

The Bond issued by SG Émetteur ( Luxembourg ) , in USD, with the ISIN code LU1377592503, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Bond maturity is 30/09/2022










BASE PROSPECTUS DATED 20 JULY 2016

SOCIÉTÉ GÉNÉRALE
as Issuer and Guarantor
(incorporated in France)

and

SG ISSUER
SOCIÉTÉ GÉNÉRALE
as Issuer
EFFEKTEN GMBH
(incorporated in Luxembourg)
as Issuer
(incorporated in Germany)

Warrants Issuance Programme


For guidance on using this Base Prospectus and navigating between the different sections hereof, please refer to "Base Prospectus ­
User Guide" on page 106 of this Base Prospectus (which is intended to assist investors in review of this Base Prospectus but which
should nevertheless be read in conjunction with the other sections of this Base Prospectus).
Under the Warrants Issuance Programme (the Programme), each of Société Générale, SG Issuer and Société Générale Effekten GmbH (each
an Issuer and together the Issuers) may from time to time issue warrants (the Warrants) denominated in any currency agreed by the Issuer of
such Warrants (the relevant Issuer) and the relevant Purchaser(s) (as defined below).
Warrants issued under the Programme may either be unsecured or secured (Secured Warrants), as specified in the applicable Final Terms and
as further described herein.
Payments and deliveries in respect of Warrants issued by SG Issuer or Société Générale Effekten GmbH wil be unconditional y and irrevocably
guaranteed by Société Générale (the Guarantor) provided that, in the case of a delivery, a claim under the guarantee provided by the Guarantor
wil result in the holder receiving the cash equivalent thereof.
The Warrants wil be issued on a continuing basis to one or more of the Dealers specified in the "General Description of the Programme" and any
additional dealer appointed under the Programme from time to time (each a Dealer and together the Dealers). Warrants may also be issued to
third parties other than Dealers. Dealers and such third parties are referred to as Purchasers. The terms and conditions of the English Law
Warrants (the English Law Warrants) are set out herein in "Terms and Conditions of the English Law Warrants" and the terms and conditions of
the French Law Warrants (the French Law Warrants) are set out herein in "Terms and Conditions of the French Law Warrants".
English Law Warrants may be issued in global clearing system bearer form (Clearing System Global Warrants), in registered form (Registered
Warrants) or in uncertificated form (Uncertificated Warrants). Registered Warrants may be represented by one or more Registered Global
Warrants (as defined in "Terms and Conditions of the English Law Warrants "). Uncertificated Warrants shal include Uncertificated Nordic
Warrants, Uncertificated Italian Warrants and EUI Warrants (and wil be issued in uncertificated and dematerialised book-entry form, all as defined
and further described in "Form of the Warrants").
Clearing System Global Warrants and Registered Global Warrants (as defined in "Terms and Conditions of the English Law Warrants") wil be
deposited with a common depositary (Common Depositary) on behalf of Euroclear Bank S.A./N.V. as operator of the Euroclear System
(Euroclear) and Clearstream Banking, société anonyme (Clearstream, Luxembourg). Clearing System Global Warrants will also be deposited
with a depositary for Sociedad de Gestión de los Sistemos de Registro, Compensación y Liquidación de Valores, S.A. Unipersonal (Iberclear).
Warrantholders may hold EUI Warrants through Euroclear UK & Ireland Limited (formerly known as CRESTCo Limited) (such clearing system,
EUI or CREST).
French Law Warrants may be issued either in dematerialised form (Dematerialised Warrants ) or in materialised form (Materialised Warrants )
as more fully described in "Form of the Warrants" herein. Materialised Warrants will be in bearer materialised form only and may only be issued
outside France. A temporary global certificate in bearer form (a Temporary Global Certificate) will initially be issued in connection with
Materialised Warrants.
Application has been made to the Commission de Surveillance du Secteur Financier (the CSSF) in its capacity as competent authority under the
loi relative aux prospectus pour valeurs mobilières dated 10 July 2005, as amended, which implements the Prospectus Directive (the
Luxembourg Act) to approve this document as a base prospectus. Such application does not extend to money market instruments (as defined in
the Prospectus Directive) having a maturity of less than one year or to Warrants (which are not publical y offered) to be admitted to trading on the
Euro MTF (as defined below). By approving this Base Prospectus, the CSSF gives no undertaking as to the economic or financial opportuneness
of the transaction or the quality or solvency of the Issuers in line with the provisions of article 7(7) of the Luxembourg Act. Application has also
been made to the Luxembourg Stock Exchange for Warrants issued under the Programme to be admitted to trading on (i) the Luxembourg Stock
Exchange's regulated market and to be listed on the Official List of the Luxembourg Stock Exchange and (ii) the multilateral trading facilities Euro
MTF of the Luxembourg Stock Exchange (the Euro MTF). The regulated market of the Luxembourg Stock Exchange is a regulated market for the
purposes of the Markets in Financial Instrument Directive 2004/39/EC of 21 April 2004, as amended, (a Regulated Market). The EuroMTF is not
a regulated market within the meaning of the Markets in Financial Instrument Directive 2004/39/EC, as amended, of 21 April 2004 and
accordingly the CSSF is not the competent authority for the approval of this Base Prospectus in connection with Warrants issued under the
Programme which are admitted to trading on the EuroMTF, but the EuroMTF is subject to the supervision of the CSSF. Warrants issued under the
Programme may also be unlisted or listed and admitted to trading on any other market, including any other Regulated Market in any Member
State of the EEA and/or offered to the public in any Member State of the EEA. The applicable Final Terms in respect of the Issue of any Warrants
(as defined below) will specify whether or not such Warrants will be listed and admitted to trading on any market and/or offered to the public in
any Member State of the EEA and, if so, the relevant market.





The CSSF has neither reviewed nor approved any information in this Base Prospectus pertaining to Warrants admitted to trading on the Euro
MTF. The CSSF assumes therefore no responsibility in relation to the issues of Warrants admitted to trading on the Euro MTF.
The Warrants and any guarantee thereof have not been and will not be registered under the United States Securities Act of 1933, as amended
(the Securities Act) or under the securities law of any state or political sub-division of the United States, and trading in the Warrants has not been
approved by the Commodity Futures Trading Commission (the CFTC) under the United States Commodity Exchange Act, as amended (the
CEA). No person has registered and no person will register as a "commodity pool operator" of any Issuer under the CEA and the rules thereunder
(the CFTC Rules) of the CFTC, and no Issuer has been and no Issuer will be registered as an investment company under the United States
Investment Company Act of 1940, as amended, and the rules and regulations thereunder (the Investment Company Act). The Warrants are
being offered and sold in reliance on an exemption from the registration requirements of the Securities Act pursuant to Regulation S thereunder
(Regulation S).
Accordingly, the Warrants may only be offered, sold, pledged or otherwise transferred in an "offshore transaction" (as defined under Regulation S)
to or for the account or benefit of a person who (a) is not a U.S. person meaning a (i) U.S. Person as defined in Regulation S (Regulation S U.S.
Person) unless the applicable Final Terms specify that IRS U.S. Person as defined in paragraph 7701(a)(30) of the Internal Revenue Code (IRS
U.S. Person) is also applicable, or (ii) in case of SGI Index Linked Warrants, Advised SGI Index is applicable or in case of Portfolio Linked
Warrants, Dynamic Portfolio is applicable, a person who is either a Regulation S U.S. Person or an IRS U.S. Person unless the applicable Final
Terms specify that only a Regulation S U.S. Person is applicable; and (b) is not a person who comes within any definition of U.S. person for the
purposes of the CEA or any CFTC Rule, guidance or order proposed or issued under the CEA (for the avoidance of doubt, any person who is not
a "Non-United States person" defined under CFTC Rule 4.7(a)(1)(iv), but excluding, for purposes of subsection (D) thereof, the exception for
qualified eligible persons who are not "Non-United States persons," shall be considered a U.S. person) (such a person or account as described
herein, a Permitted Transferee). The Warrants are available only to Permitted Transferees.

Notice of the number of Warrants and the issue price of the Warrants which are applicable to each Issue (as defined in the Terms and Conditions)
of Warrants wil be set out in a final terms document (the Final Terms) which (except in the case of Private Placement Warrants (as defined in
"Terms and Conditions of the English Law Warrants" and "Terms and Conditions of the French Law Warrants")) will be filed with the CSSF. The
Programme provides that Warrants may be listed or admitted to trading, as the case may be, on such other or further stock exchanges or markets
or quotation systems as may be agreed between the relevant Issuer, the Guarantor and the relevant Purchaser. Each Issuer may also issue
unlisted Warrants and/or Warrants not admitted to trading on any market.
The Warrants wil not be rated.
On 31 July 2015, SG Issuer, Societe Generale, SGA Societe Generale Acceptance N.V. and Société Générale Effekten GmbH issued a base
prospectus describing the Programme. This Base Prospectus supersedes and replaces the base prospectus dated 31 July 2015 and the
supplements thereto (except in relation to pending offers to the public, as detailed in "Ongoing Public Offers") for the purpose of Warrants
admitted to trading on a Regulated Market in any Member State of the EEA and/or offered to the public in any Member State of the EEA and
issued after the date of this Base Prospectus.



ARRANGER

Société Générale


DEALERS


Société Générale

Société Générale Bank & Trust
SG Option Europe
Société Générale, Sucursal en España

- 2 -




CONTENTS
SECTION
PAGE
SUMMARY ...................................................................................................................................................... 4
RISK FACTORS ............................................................................................................................................ 30
ONGOING PUBLIC OFFERS ......................................................................................................................... 89
USER GUIDE............................................................................................................................................... 106
IMPORTANT INFORMATION ...................................................................................................................... 134
GENERAL DESCRIPTION OF THE PROGRAMME...................................................................................... 141
IMPORTANT INFORMATION RELATING TO NON EXEMPT OFFER OF WARRANTS ................................ 149
DOCUMENTS INCORPORATED BY REFERENCE...................................................................................... 154
FINAL TERMS OR DRAWDOWN PROSPECTUS ........................................................................................ 161
SUPPLEMENT TO THE BASE PROSPECTUS ............................................................................................ 162
FORM OF THE WARRANTS ....................................................................................................................... 163
FORM OF FINAL TERMS ............................................................................................................................ 171
TERMS AND CONDITIONS OF THE ENGLISH LAW WARRANTS .............................................................. 215
TERMS AND CONDITIONS OF THE FRENCH LAW WARRANTS ............................................................... 280
ADDITIONAL TERMS AND CONDITIONS RELATING TO ONE-DELTA, FIXED LEVERAGE AND
TURBO WARRANTS ................................................................................................................................... 328
ADDITIONAL TERMS AND CONDITIONS RELATING TO FORMULAE ....................................................... 463
ADDITIONAL TERMS AND CONDITIONS FOR SHARE LINKED WARRANTS ............................................ 662
ADDITIONAL TERMS AND CONDITIONS FOR INDEX LINKED WARRANTS ............................................. 679
ADDITIONAL TERMS AND CONDITIONS FOR SGI INDEX LINKED WARRANTS ...................................... 691
ADDITIONAL TERMS AND CONDITIONS FOR DEPOSITARY RECEIPTS LINKED WARRANTS ................. 705
ADDITIONAL TERMS AND CONDITIONS FOR DIVIDEND LINKED WARRANTS ....................................... 719
ADDITIONAL TERMS AND CONDITIONS FOR ETF LINKED WARRANTS ................................................. 734
ADDITIONAL TERMS AND CONDITIONS FOR REFERENCE RATE LINKED WARRANTS ........................ 744
ADDITIONAL TERMS AND CONDITIONS FOR FOREIGN EXCHANGE RATE LINKED WARRANTS .......... 748
ADDITIONAL TERMS AND CONDITIONS FOR COMMODITY LINKED WARRANTS .................................. 753
ADDITIONAL TERMS AND CONDITIONS FOR FUND LINKED WARRANTS .............................................. 776
ADDITIONAL TERMS AND CONDITIONS FOR CREDIT LINKED WARRANTS ........................................... 793
ADDITIONAL TERMS AND CONDITIONS FOR INFLATION LINKED WARRANTS ..................................... 943
ADDITIONAL TERMS AND CONDITIONS FOR BOND LINKED WARRANTS.............................................. 949
ADDITIONAL TERMS AND CONDITIONS FOR ETP LINKED WARRANTS ................................................. 976
ADDITIONAL TERMS AND CONDITIONS FOR NON EQUITY SECURITY LINKED WARRANTS ................ 987
ADDITIONAL TERMS AND CONDITIONS FOR PREFERENCE SHARE LINKED WARRANTS ................... 991
ADDITIONAL TERMS AND CONDITIONS FOR WARRANT LINKED WARRANTS ...................................... 996
ADDITIONAL TERMS AND CONDITIONS FOR FUTURE LINKED WARRANTS ......................................... 1000
ADDITIONAL TERMS AND CONDITIONS FOR PORTFOLIO LINKED WARRANTS ................................... 1009
DESCRIPTION OF THE COLLATERAL ARRANGEMENTS RELATING TO SECURED WARRANTS ......... 1053
ADDITIONAL TERMS AND CONDITIONS RELATING TO SECURED WARRANTS .................................... 1067
DEED OF GUARANTEE ............................................................................................................................. 1090
DESCRIPTION OF SOCIÉTÉ GÉNÉRALE .................................................................................................. 1094
DESCRIPTION OF SG ISSUER .................................................................................................................. 1098
DESCRIPTION OF SOCIÉTÉ GÉNÉRALE EFFEKTEN GMBH .................................................................... 1104
DESCRIPTION OF SOCIÉTÉ GÉNÉRALE INDICES ................................................................................... 1109
DESCRIPTION OF THE PREFERENCE SHARE ISSUER AND THE PREFERENCE SHARES .................... 1166
BOOK ENTRY CLEARANCE SYSTEMS .................................................................................................... 1168
TAXATION ................................................................................................................................................. 1172
SUBSCRIPTION, SALE AND TRANSFER RESTRICTIONS ........................................................................ 1198
GENERAL INFORMATION ......................................................................................................................... 1209

- 3 -



Summary


SUMMARY
Summaries are made up of disclosure requirements known as Elements, the communication of which is required
by Annex XXII of the Commission Regulation (EC) No 809/2004 as amended. These elements are numbered in
Sections A ­ E (A.1 ­ E.7).
This summary contains all the Elements required to be included in a summary for this type of securities and
Issuer. Because some Elements are not required to be addressed, there may be gaps in the numbering
sequence of the Elements.
Even though an Element may be required to be inserted in the summary because of the type of securities and
Issuer, it is possible that no relevant information can be given regarding the Element. In this case a short
description of the Element is included in the summary with the mention of "Not applicable".

Section A ­ Introduction and warnings
A.1 Warning
This summary must be read as an introduction to the base prospectus.
Any decision to invest in the warrants should be based on a consideration of the base
prospectus as a whole by the investor.
Where a claim relating to the information contained in the base prospectus and the
applicable Final Terms is brought before a court, the plaintiff investor might, under the
national legislation of the Member States, have to bear the costs of translating the base
prospectus before the legal proceedings are initiated.
Civil liability attaches only to those persons who have tabled this summary, including any
translation thereof, but only if the summary is misleading, inaccurate or inconsistent when
read together with the other parts of the base prospectus or it does not provide, when read
together with the other parts of this base prospectus, key information in order to aid
investors when considering whether to invest in the warrants.

A.2 Consent to
[Not applicable. The warrants issued under a warrants issuance programme (the
the use of
Programme) pursuant to which each of Société Générale, SG Issuer and Société
the Base
Générale Effekten GmbH may from time to time issue warrants (the Warrants) are not
Prospectus
subject to a public offer in the Member States or Iceland, Liechtenstein or Norway
(together, the European Economic Area).]
[The Issuer consents to the use of this base prospectus relating to a warrants issuance
programme (the Programme) pursuant to which each of Société Générale, SG Issuer and
Société Générale Effekten GmbH may from time to time issue warrants (the Base
Prospectus) in connection with a resale or placement of warrants issued under the
Programme (the Warrants) in circumstances where a prospectus is required to be
published under Directive 2003/71/EC as amended (the Prospectus Directive) (a Non-
exempt Offer) subject to the following conditions:
- the consent is only valid during the offer period from [Specify date] to [Specify date] (the
Offer Period);
- the consent given by the Issuer for the use of the Base Prospectus to make the Non-
exempt Offer is [an individual consent (an Individual Consent) in respect of [Specify
name and address] ([each a] [the] Initial Authorised Offeror[s])] and if the Issuer
appoints any additional financial intermediaries after the [insert date of the applicable Final
Terms] (the Final Terms) and publishes details of them on its website ([www.sgbourse.fr]

- 4 -




Summary


[www.sglistedproducts.co.uk][www.societegenerale.se][www.societegenerale.fi][www.sgbo
lsa.es][www.prodotti.societegenerale.it][www.beurs.societegenerale.nl]), each financial
intermediary whose details are so published (each an Additional Authorised Offeror;]
[and] [a general consent (a General Consent) in respect of any financial intermediary who
published on its website that it wil make the Non-exempt Offer of the Warrants on the
basis of the General Consent given by the Issuer and by such publication, any such
financial intermediary (each a General Authorised Offeror) undertakes to comply with
the fol owing obligations:
(a)
it acts in accordance with al applicable laws, rules, regulations and guidance
(including from any regulatory body) applicable to the Non-exempt Offer of the
Warrants in the Public Offer Jurisdiction, in particular the law implementing the
Markets in Financial Instruments Directive (Directive 2004/39/EC) as amended
(hereinafter the Rules) and makes sure that (i) any investment advice in the
Warrants by any person is appropriate, (i ) the information to prospective
investors including the information relating to any expenses (and any
commissions or benefits of any kind) received or paid by this General Authorised
Offeror under the offer of the Warrants is fully and clearly disclosed prior to their
investment in the Warrants;
(b)
it complies with the relevant subscription, sale and transfer restrictions related to
the Public Offer Jurisdiction as if it acted as a Dealer in the Public Offer
Jurisdiction;
(c)
it ensures that the existence of any fee (and any other commissions or benefits of
any kind) or rebate received or paid by it in relation to the offer or sale of the
Warrants does not violate the Rules is ful y and clearly disclosed to investors or
prospective Investors prior to their investment in the Warrants and to the extent
required by the Rules, provides further information in respect thereof;
(d)
it complies with the Rules relating to anti-money laundering, anti-corruption, anti-
bribery and "know your customer" rules (including, without limitation, taking
appropriate steps, in compliance with such rules, to establish and document the
identity of each prospective investor prior to initial investment in any Warrants by
the investor), and will not permit any application for Warrants in circumstances
where it has any suspicion as to the source of the application monies; it retains
investor identification records for at least the minimum period required under
applicable Rules, and shal , if so requested, make such records available to the
relevant Issuer and/or the relevant Dealer or directly to the competent authorities
with jurisdiction over the relevant Issuer and/or the relevant Dealer in order to
enable the relevant Issuer and/or the relevant Dealer to comply with anti-money
laundering, anti-corruption, anti-bribery and "know your customer" rules applying
to the relevant Issuer and/or the relevant Dealer;
(e) it co-operates with the Issuer and the relevant Dealer in providing relevant
information (including, without limitation, documents and records maintained
pursuant to paragraph (d) above) and such further assistance as reasonably
requested upon written request from the Issuer or the relevant Dealer in each case,
as soon as is reasonably practicable and, in any event, within any time frame set by
any such regulator or regulatory process. For this purpose, relevant information that
is available to or can be acquired by the relevant financial intermediary:
(i)
in connection with any request or investigation by any regulator in

- 5 -




Summary


relation to the Warrants, the Issuer or the relevant Dealer; and/or
(i )
in connection with any complaints received by the Issuer and/or the
relevant Dealer relating to the Issuer and/or the relevant Dealer or
another Authorised Offeror including, without limitation, complaints as
defined in rules published by any regulator of competent jurisdiction
from time to time; and/or
(i i)
which the Issuer or the relevant Dealer may reasonably require from
time to time in relation to the Warrants and/or as to al ow the Issuer or
the relevant Dealer fully to comply with its own legal, tax and regulatory
requirements;
(f) it does not, directly or indirectly, cause the relevant Issuer or the relevant Dealer to
breach any Rule or any requirement to obtain or make any filing, authorisation or
consent in any jurisdiction;
[(g) it meets [insert any other conditions to consent specified in the paragraph "Other
conditions to consent" in the applicable Final Terms];
[(g)/(h)] it commits itself to indemnify the relevant Issuer, the Guarantor (if applicable)
and the relevant Dealer, Société Générale and each of its affiliates (for any damage,
loss, expense, claim, request or loss and fees (including reasonable fees from law
firms) incurred by one of these entities because of, or in relation with, any failure by
this General Authorised Offeror (or any of its sub-distributors) to respect any of
these obligations above;
[(h)/(i)] it is familiar with, and has policies and procedures in place to comply with, any
applicable rules and regulations relating to anti-bribery and corruption, including any
changes thereto;
[(i)/(j)] (a) it and any person within its control (including any director, officer or
employee, each a control ed person) has not committed and will not commit any
corrupt act directly or indirectly and (b) to the best of its knowledge, none of its
sub-distributors has committed any corrupt act directly or indirectly, in each case
to or for the use or benefit of, any person or any government official (which shal
include any official, employee or representative of, or any other person acting in an
official capacity for or on behalf of any government of any jurisdiction, any public
international organisation, any political party, or any quasi-governmental body);
[(j)/(k)] it has in place adequate policies, systems, procedures and controls designed to
prevent itself, its sub-distributors and any controlled person from committing any
corrupt act and to ensure that any evidence or suspicion of corrupt acts is ful y
investigated, reported to Société Générale or the relevant Issuer and acted upon
accordingly;
[(k)/(l)] neither it nor any of its agents, sub-distributors or control ed persons is ineligible
or treated by any governmental or international authority as ineligible to tender for
any contract or business with, or to be awarded any contract or business by, such
authority on the basis of any actual or al eged corrupt act;
[(l)/(m)] it has kept adequate records of its activities, including financial records in a form
and manner appropriate for a business of its size and resources;

- 6 -




Summary


[(m)/(n)] it represents and warrants that it shall not distribute financial instruments to, or
enter into any arrangement with respect to financial instruments with, sanctioned
persons;
[(n)/(o)] it undertakes to promptly inform Société Générale or the relevant Issuer of (a)
any complaint received in relation to its activities or the financial instruments; or (b)
any event affecting it, including but not limited to any of: (i) a regulatory investigation
or audit of it or its affiliates, partners or agents; (i ) legal proceedings initiated by a
competent regulatory authority against it or its affiliates, partners or agents; or (i i) a
judgment rendered or penalty levied against it or its affiliates, partners or agents,
which in each case might reasonably involve a reputational risk for Societe Generale
or the relevant Issuer; and
[(o)/(p)] it acknowledges that its commitment to respect the obligations above is
governed by [French law] [English law] and agrees that any related dispute be
brought before the [tribunaux de Paris, France] [English courts].
[Any General Authorised Offeror who wishes to use the Base Prospectus for an
Non-exempt Offer of Warrants in accordance with this General Consent and the
related conditions is required, during the time of the relevant Offer Period, to
publish on its website that it uses the Base Prospectus for such Non-exempt Offer
in accordance with this General Consent and the related conditions.]
- the consent only extends to the use of this Base Prospectus to make Non-exempt
Offers of the Warrants in [Finland] [France] [Ireland] [Italy] [Luxembourg] [Netherlands]
[Norway] [Spain] [Sweden] [United Kingdom].
[The information relating to the conditions of the Non-exempt Offer shall be
provided to the investors by [any Initial Authorised Offeror] [any Initial Authorised
Offeror and any General Authorised Offeror] [any General Authorised Offeror] at the
time the offer is made.]]

Section B ­ Issuer[s] [and Guarantor]
B.1
Legal and
[Société Générale (or the Issuer)]
commercial
name of the
[SG Issuer (or the Issuer)]
Issuer
[Société Générale Effekten GmbH (or the Issuer)]

- 7 -




Summary


B.2
Domicile,
[If the Issuer is Société Générale:
legal form,
Domicile: 29, boulevard Haussmann, 75009 Paris, France.
legislation
Legal form: Public limited liability company (
and country
société anonyme).
of
Legislation under which the Issuer operates: French law.
incorpora-
Country of incorporation: France.]
tion
[If the Issuer is SG Issuer:
Domicile: 33, boulevard Prince Henri, L-1724 Luxembourg, Luxembourg.
Legal form: Public limited liability company (société anonyme).
Legislation under which the Issuer operates: Luxembourg law.
Country of incorporation: Luxembourg.]
[If the Issuer is Société Générale Effekten GmbH:
Domicile: Neue Mainzer Strasse 46-50, 60311 Frankfurt am Main, Germany.
Legal form: Limited liability company (Gesel schaft mit beschränkter Haftung
(GmbH)).
Legislation under which the Issuer operates: German law.
Country of incorporation: Germany.]

B.4b
Known
[If the Issuer is Societe Generale: In 2016, the global economy should suffer from
trends
high uncertainty, related in particular to the geopolitical environment (Brexit,
affecting
European migrant crisis, instability in the Middle East) and to elections in key
the Issuer
countries. At the same time, the volatility of commodity and capital markets should
and the
remain significant, given the slowdown in emerging economies and strong
industries
divergences in monetary policies.
in which it
operates
In the Eurozone, the quantitative easing and negative interest rate policy
implemented by the ECB should keep market interest rates low in 2016, against a
backdrop of consistently low inflation. In the United States, the pace of the FED's
tightening monetary policy will depend on economic growth momentum. In emerging
countries, the moderate growth rate was confirmed in 2015. Although this trend was
contained in China, business activity in countries producing commodities saw a
more significant decrease.
Within this contrasted environment, banks wil have to continue to strengthen their
capital to meet new regulatory requirements, further to the Basel reforms. In
particular, following the various transparency exercises implemented in 2015 and
the publication of the minimum Pil ar 2 requirements, banks wil have to comply with
new current liability ratios (MREL and TLAC).
Other reforms are still pending, as the banking regulator is reviewing the trading
portfolio and risk-weighting models.]
[If the Issuer is SG Issuer or Société Générale Effekten GmbH: The Issuer expects
to continue its activity in accordance with its corporate objects over the course of
2016.]

- 8 -




Summary


B.5
Description
The Société Générale group (the Group) offers a wide range of advisory services
of the
and tailored financial solutions to individual customers, large corporate and
Issuer's
institutional investors. The Group relies on three complementary core businesses:
group and

the Issuer's
· French Retail Banking;
position
within the
· International Retail Banking, Financial Services and Insurance; and
group
· Corporate and Investment Banking, Private Banking, Asset and Wealth
Management and Securities Services.
[If the Issuer is Société Générale: The Issuer is the parent company of the Group.]
[If the Issuer is SG Issuer or Société Générale Effekten GmbH: The Issuer is a
subsidiary of the Group and has no subsidiaries.]

B.9
Figure of
Not applicable. The Issuer does not provide any figure of profit forecast or estimate.
profit
forecast or
estimate of
the Issuer

B.10
Nature of
Not applicable. The audit report does not include any qualification.
any
qualificatio
ns in the
audit report
on the
historical
financial
information


- 9 -




Summary


B.12
[If the Issuer is Société Générale:
Selected

historical



key
First Quarter
Year ended
First Quarter
Year ended
financial
31.03.2016
2015
31.03.2015
2014
informa-tion
(non audited)
(audited)
(non audited)
(audited (*))
regarding
the Issuer
Results
(in




millions of euros)
Net Banking
6,175
25,639
6,353
23,561
Income
Operating income
1,367
5,681
1,298
4,557 (*)
Net income
1,022
4,395
962
2,978 (*)
Group Net income
924
4,001
868
2,679 (*)
(*)
French Retail
328
1,417
279
1,204
Banking
(*)
International Retail
300
1,077
148
370
Banking &
Financial Services
(*)
Global Banking
454
1,808
532
1,909
and Investor
Solutions
(*)
Corporate Centre
(158)
(301)
(91)
(804)
Net cost of risk
(524)
(3,065)
(613)
(2,967)
Cost/income ratio
N/A(**)
68%
N/A(**)
68% (*)
ROE after tax
7.1%
7.9%
6.9%
5.3%
Tier 1 Ratio
13.7%
13.5%
12.4%
12.6%
Activity (in billions




of euros)
Total assets and
1,367.9
1,334.4
1,428.8
1,308.1(*)
liabilities
Customer loans
411.6
405.3
346.9
370.4
(1)1
Customer deposits
372.5
379.6
340.5
349.7


Equity (in bil ions


of euros)
59.0
59.0
57.2
55.2(*)
Group
shareholders'
equity
62.7
62.7
61.0
58.9(*)
Total consolidated
equity
Cash flow




statements (in
millions of euros)

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