Obbligazione Amadues 2.875% ( XS2177555062 ) in EUR

Emittente Amadues
Prezzo di mercato 100 EUR  ▲ 
Paese  Spagna
Codice isin  XS2177555062 ( in EUR )
Tasso d'interesse 2.875% per anno ( pagato 1 volta l'anno)
Scadenza 20/05/2027 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Amadeus XS2177555062 in EUR 2.875%, scaduta


Importo minimo /
Importo totale /
Descrizione dettagliata Amadeus è una multinazionale spagnola che fornisce soluzioni tecnologiche per l'industria del viaggio.

The Obbligazione issued by Amadues ( Spain ) , in EUR, with the ISIN code XS2177555062, pays a coupon of 2.875% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 20/05/2027









BASE PROSPECTUS

AMADEUS IT GROUP, S.A.
(incorporated with limited liability in The Kingdom of Spain)
EUR 5,000,000,000
Euro Medium Term Note Programme
______________________________________
Under the EUR 5,000,000,000 Euro Medium Term Note Programme (the Programme) described in this base
prospectus (the Base Prospectus), Amadeus IT Group, S.A. (Amadeus IT Group or the Issuer) may from time to time
issue notes (the Notes) denominated in any currency agreed between the Issuer and the relevant Dealer (as defined
below).
This Base Prospectus has been approved by the Commission de Surveillance du Secteur Financier (the CSSF), as
competent authority under Regulation (EU) 2017/1129 (the Prospectus Regulation). The CSSF only approves this
Base Prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the
Prospectus Regulation. Such approval should not be considered as an endorsement of either the Issuer or the quality of
the Notes that are the subject of this Base Prospectus and investors should make their own assessment as to the
suitability of investing in the Notes. The CSSF assumes no responsibility as to the economic and financial soundness of
the issue of any Notes or the quality or solvency of the Issuer in line with the provisions of article 6(4) of the
Luxembourg Act dated 16 July 2019 relating to prospectuses for securities.
Application has been made to the Luxembourg Stock Exchange for the Notes issued under the Programme for the
period of 12 months from the date of this Base Prospectus to be admitted to the official list of the Luxembourg Stock
Exchange (the Official List) and to be admitted to trading on the Luxembourg Stock Exchange's regulated market.
References in this Base Prospectus to Notes being listed (and all related references) shall mean that such Notes have
been admitted to the Official List and admitted to trading on the Luxembourg Stock Exchange's regulated market. The
Luxembourg Stock Exchange's regulated market is a regulated market for the purposes of Directive 2014/65/EU of the
European Parliament and of the Council on markets in financial instruments, as amended (MiFID II). The Programme
also permits Notes to be issued on the basis that they will be admitted to listing, trading and/or quotation by such other
or further competent authorities, stock exchanges and/or quotation systems as may be agreed with the Issuer.
The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities
Act) or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold within
the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S under the Securities
Act (Regulation S)) except in certain transactions exempt from or not subject to the registration requirements of the
Securities Act. The Notes are subject to certain restrictions on transfer; see "Subscription and Sale".
The Issuer has been rated Baa2 and BBB- respectively, by Moody's France S.A.S. (Moody's) and S&P Global Ratings
Europe Limited, France Branch (Standard & Poor's). Tranches of Notes issued under the Programme may be rated or
unrated. Where Tranches of Notes are rated, such rating will be specified in the relevant Final Terms.
Whether or not a rating in relation to any Tranche of Notes will be treated as having been issued by a credit rating
agency established in the European Economic Area (the EEA) and registered under Regulation (EC) 1060/2009 on
credit rating agencies, as amended (the CRA Regulation) will be disclosed in the relevant Final Terms. A list of rating
agencies registered under the CRA Regulation can be found at http://www.esma.europa.eu/page/List-registered-and-
certified-CRAs. A rating is not a recommendation to buy, sell or hold securities and may be subject to suspension,
reduction or withdrawal at any time by the assigning rating agency.
This Base Prospectus is available for inspection at the website of the Luxembourg Stock Exchange (www.bourse.lu).

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This Base Prospectus will be valid as a base prospectus under the Prospectus Regulation for 12 months from 4 August
2021 (i.e., until 4 August 2022). The obligation to supplement this Base Prospectus in the event of significant new
factors, material mistakes or material inaccuracies will not apply following the expiry of that period.
Investing in Notes issued under the Programme involves certain risks. The principal risk factors that may
affect the ability of the Issuer to fulfil its obligations under the Notes are discussed under "Risk Factors"
below.

Arranger
BNP PARIBAS
Dealers

Barclays
BBVA
BNP PARIBAS
CaixaBank
CIC Market Solutions
Commerzbank
Crédit Agricole CIB
Citigroup
DZ BANK AG
HSBC
J.P. Morgan
MUFG
NatWest Markets
Santander
Société Générale Corporate & Investment Banking
UniCredit Bank
4 August 2021


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IMPORTANT NOTICES
Responsibility for this Base Prospectus
The Issuer accepts responsibility for the information contained in this Base Prospectus and any relevant Final
Terms. To the best of the knowledge of the Issuer, the information contained in this Base Prospectus and any
Final Terms is in accordance with the facts and the Base Prospectus (in respect of any Notes, this Base
Prospectus as completed by the relevant Final Terms) makes no omission likely to affect the import of such
information.
Final Terms/Drawdown Prospectus
Each Tranche (as defined herein) of Notes will be issued on the terms set out herein under "Terms and
Conditions of the Notes" (the Conditions) as completed by a document specific to such Tranche called final
terms (the Final Terms) or in a separate prospectus specific to such Tranche (the Drawdown Prospectus)
as described under "Final Terms and Drawdown Prospectuses" below.
Other relevant information
This Base Prospectus must be read and construed together with any supplements hereto and with any
information incorporated by reference herein and, in relation to any Tranche of Notes which is the subject of
Final Terms, must be read and construed together with the relevant Final Terms. In the case of a Tranche of
Notes which is the subject of a Drawdown Prospectus, each reference in this Base Prospectus to information
being specified or identified in the relevant Final Terms shall be read and construed as a reference to such
information being specified or identified in the relevant Drawdown Prospectus unless the context requires
otherwise.
The Issuer has confirmed to the Dealers named under "Subscription and Sale" below that this Base
Prospectus contains all information which is (in the context of the Programme, the issue, offering and sale of
the Notes) material; that such information is true and accurate in all material respects and is not misleading
in any material respect; that any opinions, predictions or intentions expressed herein are honestly held or
made and are not misleading in any material respect; that this Base Prospectus does not omit to state any fact
necessary to make such information, opinions, predictions or intentions (in the context of the Programme, the
issue, offering and sale of the Notes) not misleading in any material respect; and that all proper enquiries
have been made to verify the foregoing.
Unauthorised information
No person is or has been authorised to give any information or to make any representation not contained in
or not consistent with this Base Prospectus or any other document entered into in relation to the Programme
or any information supplied by the Issuer or such other information as is in the public domain and, if given
or made, such information or representation should not be relied upon as having been authorised by the
Issuer, the Arranger or any Dealer.
None of the Arranger, the Dealers or any of their respective affiliates has authorised the whole or any part of
this Base Prospectus and none of them makes any representation or warranty or accepts any responsibility as
to the accuracy or completeness of the information contained in this Base Prospectus. Neither the delivery of
this Base Prospectus or any Final Terms nor the offering, sale or delivery of any Note shall, in any
circumstances, create any implication that the information contained in this Base Prospectus is true
subsequent to the date hereof or the date upon which this Base Prospectus has been most recently
supplemented or that there has been no adverse change, or any event reasonably likely to involve any
adverse change, in the prospects or financial or trading position of the Issuer since the date thereof or, if
later, the date upon which this Base Prospectus has been most recently supplemented or that any other

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information supplied in connection with the Programme 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.
Restrictions on distribution
This Base 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 Base 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 Base 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 is intended to permit a public offering of any Notes or distribution of this Base
Prospectus in any jurisdiction where action for that purpose is required. Accordingly, no Notes may be
offered or sold, directly or indirectly, and neither this Base 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 Base
Prospectus or any Notes may come must inform themselves about, and observe, any such restrictions on the
distribution of this Base Prospectus and the offering and sale of Notes.
In particular, there are restrictions on the distribution of this Base Prospectus and the offer or sale of Notes in
the United States, the EEA, the United Kingdom (the UK), Spain, Republic of Italy, France, Japan and
Singapore (see "Subscription and Sale"). The Notes have not been and will not be registered under the
United States Securities Act of 1933, as amended (the Securities Act) or the securities laws of any state in
the United States and are subject to U.S. tax law requirements. Subject to certain exceptions, Notes may not
be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons (as
defined in Regulation S under the Securities Act) (see "Subscription and Sale").
Notes may not be a suitable investment for all investors
Each potential investor in any Notes must determine the suitability of that investment in light of its own
circumstances. In particular, each potential investor should:
(a)
have sufficient knowledge and experience to make a meaningful evaluation of the relevant Notes,
the merits and risks of investing in the relevant Notes and the information contained or incorporated
by reference in this Base Prospectus or any applicable supplement;
(b)
have access to, and knowledge of, appropriate analytical tools to evaluate, in the context of its
particular financial situation, an investment in the relevant Notes and the impact such investment
will have on its overall investment portfolio;
(c)
have sufficient financial resources and liquidity to bear all of the risks of an investment in the
relevant Notes, including where principal or interest is payable in one or more currencies, or where
the currency for principal or interest payments is different from the potential investor's currency;
(d)
understand thoroughly the terms of the relevant Notes and be familiar with the behaviour of any
relevant indices and financial markets; and
(e)
be able to evaluate (either alone or with the help of a financial adviser) possible scenarios for
economic, interest rate and other factors that may affect its investment and its ability to bear the
applicable risks.
Some Notes are complex financial instruments and such instruments may be purchased as a way to reduce
risk or enhance yield with an understood, measured and appropriate addition of risk to a potential investor's
overall portfolio. A potential investor should not invest in Notes which are complex financial instruments

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unless it has the expertise (either alone or with the help of a financial adviser) to evaluate how the Notes will
perform under changing conditions, the resulting effects on the value of such Notes and the impact this
investment will have on the potential investor's overall investment portfolio.
Neither this Base Prospectus nor any Final Terms constitutes an offer or an invitation to subscribe for or
purchase any Notes and should not be considered as a recommendation by the Issuer, the Dealers or any of
them that any recipient of this Base Prospectus or any Final Terms should subscribe for or purchase any
Notes. Each recipient of this Base Prospectus or any Final Terms shall be taken to have made its own
investigation and appraisal of the condition (financial or otherwise) of the Issuer.
Legal investment considerations may restrict certain investments
The investment activities of certain investors may be subject to law or review or regulation by certain
authorities. Each potential investor should determine for itself, on the basis of professional advice where
appropriate, whether and to what extent (i) the Notes are lawful investments for it, (ii) the Notes can be used
as collateral for various types of borrowing and (iii) other restrictions apply to its purchase or pledge of the
Notes. Financial institutions should consult their legal advisers or the appropriate regulators to determine the
appropriate treatment of the Notes under any applicable risk-based capital or similar rules.
Change of law
The Conditions, and any non-contractual obligations arising out of or in connection with the Notes, are
governed by English law in effect as at the date of this Base Prospectus. No assurance can be given as to the
impact of any possible judicial decision or change to English law or administrative practice after the date of
this Base Prospectus.
NOTIFICATION UNDER SECTION 309B OF THE SECURITIES AND FUTURES ACT
(CHAPTER 289) OF SINGAPORE, AS MODIFIED OR AMENDED FROM TIME TO TIME (THE
SFA)
Unless otherwise stated in the relevant Final Terms, all Notes shall be "prescribed capital markets" products
(as defined in the Securities and Futures (Capital Markets Products) Regulations 2018 of Singapore (the
CMP Regulations 2018)) and Excluded Investment Products (as defined in the Monetary Authority of
Singapore (the MAS) Notice SFA 04-N12: Notice on the Sale of Investment Product and the MAS Notice
FAA-N16: Notice on Recommendations on Investment Products).
Programme limit
The maximum aggregate principal amount of Notes outstanding at any one time under the Programme will
not exceed EUR 5,000,000,000 (and for this purpose, any Notes denominated in another currency shall be
translated into euro at the date of the agreement to issue such Notes (calculated in accordance with the
provisions of the Dealer Agreement)). The maximum aggregate principal amount of Notes which may be
outstanding at any one time under the Programme may be increased from time to time, subject to compliance
with the relevant provisions of the Dealer Agreement as defined under "Subscription and Sale")
Certain definitions
In this Base Prospectus, unless otherwise specified, references to a Member State are references to a
member state of the European Economic Area, references to EUR, or euro are to the currency introduced
at the start of the third stage of the European economic and monetary union, and as defined in Article 2 of
Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro, as amended.
References to the Group, Amadeus, we, us or our are to the Issuer together with its consolidated
subsidiaries. A glossary regarding the activities of the Group is set out on pages 39 to 41 of this Base
Prospectus.

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The language of the Base Prospectus is English. Certain legislative references and technical terms have been
cited in their original language in order that the correct technical meaning may be ascribed to them under
applicable law.
Ratings
Tranches of Notes issued under the Programme will be rated or unrated. Where a Tranche of Notes is rated,
such rating will not necessarily be the same as the rating(s) assigned to Notes already issued. Where a
Tranche of Notes is rated, the applicable rating(s) will be specified in the relevant Final Terms. Whether or
not each credit rating applied for in relation to a relevant Tranche of Notes will be (1) issued by a credit
rating agency established in the European Economic Area (EEA) and registered under the CRA Regulation,
or (2) issued by a credit rating agency which is not established in the EEA but will be endorsed by a CRA
which is established in the EEA and registered under the CRA Regulation or (3) issued by a credit rating
agency which is not established in the EEA but which is certified under the CRA Regulation will be
disclosed in the Final Terms. In general, European regulated investors are restricted from using a rating for
regulatory purposes if such rating is not issued by a credit rating agency established in the EEA and
registered under the CRA Regulation unless (1) the rating is provided by a credit rating agency not
established in the EEA but is endorsed by a credit rating agency established in the EEA and registered under
the CRA Regulation or (2) the rating is provided by a credit rating agency not established in the EEA which
is certified under the CRA Regulation or (3) the rating is provided by a credit rating agency established in
the UK and registered under the CRA Regulation as it forms part of domestic law of the UK by virtue of the
European Union (Withdrawal) Act 2018 (EUWA) (the UK CRA Regulation) or (4) the rating is provided
by a credit rating agency established in a third country but the rating it has given to the Notes is endorsed by
a credit rating agency established in the UK and registered under Regulation the UK CRA Regulation or (5)
the rating is provided by a credit rating agency established in a third country but certified under the UK CRA
Regulation.
Rounding
Certain figures included in this Base Prospectus have been subject to rounding adjustments; accordingly,
figures in this Base Prospectus, including financial, statistical and operating information, may not be an
arithmetic aggregation of the figures which precede them.
Forward-looking statements
This Base Prospectus includes forward-looking statements that reflect the Group's intentions, beliefs or
current expectations and projections about the Group's future results of operations, financial condition,
liquidity, performance, prospects, anticipated growth, strategies, plans, opportunities, trends and the markets
in which the Group operates or intends to operate. Forward-looking statements involve all matters that are
not historical fact. These and other forward-looking statements can be identified by the words "may",
"will", "would", "should", "expect", "intend", "estimate", "anticipate", "project", "future", "potential",
"believe", "seek", "plan", "aim", "objective", "goal", "strategy", "target", "continue" and similar
expressions or their negatives. These forward-looking statements are based on numerous assumptions
regarding the Group's present and future business and the environment in which the Group expects to
operate in the future. Forward-looking statements may be found in sections of this Base Prospectus entitled
"Risk Factors", "Description of the Group", in the documents incorporated by reference in this Base
Prospectus and elsewhere in this Base Prospectus.
These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions
and other factors that could cause the Group's actual results of operations, financial condition, liquidity,
performance, prospects, anticipated growth, strategies, plans or opportunities, as well as those of the markets
the Group serves or intends to serve, to differ materially from those expressed in, or suggested by, these
forward-looking statements.

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Additional factors that could cause the Group's actual results, financial condition, liquidity, performance,
prospects, opportunities or achievements or industry results to differ include, but are not limited to, those
discussed under "Risk Factors".
In light of these risks, uncertainties and assumptions, the forward-looking events described in this Base
Prospectus may not occur. Additional risks that the Group may currently deem immaterial or that are not
presently known to the Group could also cause the forward-looking events discussed in this Base Prospectus
not to occur. Except as otherwise required by Spanish, Luxembourg and other applicable securities laws and
regulations and by any applicable stock exchange regulations, the Group undertakes no obligation to update
publicly or revise publicly any forward-looking statements, whether as a result of new information, future
events, changed circumstances or any other reason after the date of this Base Prospectus. Given the
uncertainty inherent in forward-looking statements, prospective investors are cautioned not to place undue
reliance on these statements.
MiFID II product governance / Professional investors and ECPs only 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 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 / Professional investors and ECPs only 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.
EEA Retail Investors
If the Final Terms in respect of any Notes includes a legend entitled "Prohibition of Sales to EEA 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
Directive 2014/65/EU (as amended, MiFID II); or (ii) a customer within the meaning of Directive (EU)
2016/97, as amended or superseded (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; or (iii) not a qualified
investor as defined under the Prospectus Regulation. Consequently, no key information document required

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by Regulation (EU) No 1286/2014, as amended (the EU 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 EU PRIIPs Regulation.
UK Retail Investors
If the Final Terms in respect of any Notes includes a legend entitled "Prohibition of Sales to 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 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 of the UK by virtue of the EUWA; or (ii) a
customer within the meaning of the provisions of the Financial Services and Markets Act 2000, as amended
(the 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 of the UK by virtue of the EUWA; or
(iii) not a qualified investor as defined in Article 2 of the Prospectus Regulation as it forms part of domestic
law of the UK by virtue of the EUWA (the UK Prospectus Regulation). Consequently, no key information
document required by the EU PRIIPs Regulation as it forms part of domestic law of the UK 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 making
them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
Benchmarks
Amounts payable under the Notes may be calculated by reference to the Euro Interbank Offered Rate
(EURIBOR) which is administered by the European Money Markets Institute (EMMI). As at the date of
this Base Prospectus, EMMI appears on the register of administrators and benchmarks established and
maintained by the European Securities and Markets Authority (ESMA) pursuant to Article 36 of Regulation
(EU) 2016/1011.
Supplements to the Base Prospectus
If at any time the Issuer shall be required to prepare a supplement to this Base Prospectus pursuant to Article
23 of the Prospectus Regulation, the Issuer will prepare and make available an appropriate supplement to this
Base Prospectus which, in respect of any subsequent issue of Notes to be listed on the Official List and
admitted to trading on the Luxembourg Stock Exchange's regulated market, shall constitute a prospectus
supplement as required by Article 23 of the Prospectus Regulation. Statements contained in any such
supplement (or contained in any document incorporated by reference therein) shall, to the extent applicable,
be deemed to modify or supersede statements contained in this Base Prospectus or in a document which is
incorporated by reference in this Base Prospectus. Any statement so modified or superseded shall not, except
as so modified or superseded, constitute a part of this Base Prospectus. The obligation to supplement this
Base Prospectus in the event of significant new factors, material mistakes or material inaccuracies will not
apply following the expiry of the 12 month-period of validity of this Base Prospectus referred to above.
Alternative performance measures
The financial data incorporated by reference in this Base Prospectus (which reference includes any
information incorporated by reference herein), in addition to the conventional financial performance
measures established by the International Financial Reporting Standards, as adopted by the EU (IFRS-EU),
contains certain alternative performance measures (as defined in the ESMA Guidelines on Alternative
Performance Measures, APMs) that include EBITDA, operating income, net financial debt as defined by the
Issuer's credit facility agreements, adjusted profit and their corresponding ratios. These measures are
presented for purposes of providing investors with a better understanding of Amadeus' financial
performance, cash flows or financial position as they are used by Amadeus when managing its business.

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Such measures should not be considered as a substitute for those required by IFRS-EU and have not been
prepared in accordance with IFRS-EU. In addition, such APMs have not been audited or reviewed, and are
not recognised measures of financial performance or liquidity under IFRS-EU but are used by management
to monitor the underlying performance of the business, operations and financial condition of the Group.
These APMs may not be indicative of the Group's historical results, nor are such measures meant to be
predictive of its future results. The Issuer has presented these APMs in this Base Prospectus because it
considers them to be important supplemental measures of the Group's performance or liquidity, because
these and similar measures are seen to be used widely in the sector in which it operates as a means of
evaluating a company's operating performance and liquidity.
However, not all companies calculate such APMs in the same manner or on a consistent basis. As a result,
these measures may not be comparable to measures used by other companies under the same or similar
names. and they should not be considered as a substitute for financial measures computed in accordance with
IFRS-EU.
Accordingly, undue reliance should not be placed on such APMs contained in this Base Prospectus.
An explanation of each APM's components and calculation method can be found in the Interim Consolidated
Directors' Report of the Issuer in respect of the six-month period ended 30 June 2019 (the 1H2019 Interim
Consolidated Directors' Report), the Consolidated Directors' Report of the Issuer in respect of the year
ended 31 December 2020 (the 2020 Consolidated Directors' Report), and the Interim Consolidated
Directors' Report of the Issuer in respect of the six-month period ended 30 June 2021 (the 1H2021 Interim
Consolidated Directors' Report), which are incorporated by reference herein. See section 3 (Presentation
of financial information) of the 1H2019 Interim Consolidated Directors' Report, section 3 (Presentation of
financial information) of the 2020 Consolidated Directors' Report and section 3 of the 1H2021 Interim
Consolidated Directors' Report for more information.
Stabilisation
In connection with the issue of any Tranche of Notes, the Dealer or Dealers (if any) named as the
Stabilisation Manager(s) (or persons acting on behalf of any Stabilisation Manager(s)) in the relevant
Final Terms may over-allot Notes or effect transactions with a view to supporting the market price of
the Notes at a level higher than that which might otherwise prevail. However, stabilisation may not
necessarily occur. Any stabilisation action may begin on or after the date on which adequate public
disclosure of the terms of the offer of the relevant Tranche of Notes is made and, if begun, may cease
at any time, but it must end no later than the earlier of 30 days after the issue date of the relevant
Tranche of Notes and 60 days after the date of the allotment of the relevant Tranche of Notes. Any
stabilisation action or over-allotment must be conducted by the relevant Stabilisation Manager(s) (or
person(s) acting on behalf of any Stabilisation Manager(s)) in accordance with all applicable laws and
rules.



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TABLE OF CONTENTS
Page
OVERVIEW OF THE PROGRAMME ......................................................................................................... 11
RISK FACTORS ............................................................................................................................................ 16
GLOSSARY ................................................................................................................................................... 39
INFORMATION INCORPORATED BY REFERENCE .............................................................................. 42
FINAL TERMS AND DRAWDOWN PROSPECTUSES ............................................................................ 45
FORMS OF THE NOTES .............................................................................................................................. 46
TERMS AND CONDITIONS OF THE NOTES ........................................................................................... 50
FORM OF FINAL TERMS ............................................................................................................................ 82
USE OF PROCEEDS ...................................................................................................................................... 94
SUMMARY OF PROVISIONS RELATING TO THE NOTES WHILE IN GLOBAL FORM .................. 95
DESCRIPTION OF THE ISSUER ................................................................................................................ 97
DESCRIPTION OF THE GROUP .............................................................................................................. 100
TAXATION.................................................................................................................................................. 112
SUBSCRIPTION AND SALE .................................................................................................................... 117
GENERAL INFORMATION ...................................................................................................................... 122



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