Obbligazione Repsol Global Finance B.V. 0.125% ( XS2241090088 ) in EUR

Repsol Global Finance B.V.

100 EUR ▲

Spagna

XS2241090088 ( in EUR )

0.125% per anno ( pagato 1 volta l'anno)

05/10/2024 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione Repsol Intl Finance B.V XS2241090088 in EUR 0.125%, scaduta

Repsol Intl Finance B.V. è una società di finanziamento internazionale appartenente al gruppo Repsol, operante nel settore energetico.

The Obbligazione issued by Repsol Global Finance B.V. ( Spain ) , in EUR, with the ISIN code XS2241090088, pays a coupon of 0.125% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 05/10/2024

EXECUTION VERSION
Final Terms
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 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.
PROHIBITION OF SALES TO EEA AND 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 European Economic Area (EEA) or in the United Kingdom (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 (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 (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 in Regulation (EU) 2017/1129 (the Prospectus
Regulation). Consequently no key information document required by Regulation (EU) No
1286/2014 (as amended, the PRIIPs Regulation) for offering or selling the Notes or otherwise
making them available to retail investors in the EEA or in the United Kingdom has been prepared
and therefore offering or selling the Notes or otherwise making them available to any retail investor
in the EEA or in the United Kingdom may be unlawful under the PRIIPs Regulation.
Final Terms dated 1 October 2020
REPSOL INTERNATIONAL FINANCE B.V.
Legal Entity Identifier (LEI): 5493002YCY6HTK0OUR29
Issue of 850,000,000 0.125% Senior Unsecured Fixed Rate Notes due 5 October 2024
Guaranteed by Repsol, S.A.
under the Euro 10,000,000,000 Euro Medium Term Note Programme
PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set
forth in the base prospectus dated 3 April 2020 and the Supplements dated 13 May 2020 and 30
July 2020 to the Base Prospectus dated 3 April 2020 which together constitute a base prospectus
(the Base Prospectus) for the purposes of Regulation (EU) 2017/1129, as amended or superseded
(the Prospectus Regulation). 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 such Base Prospectus. Full information on the Issuer, the Guarantor 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 has been published on http://www.repsol.com/es_en/corporacion/accionistas-
inversores/informacion-financiera/financiacion/repsol-international-finance/programa-emision-
continua.aspx and is available for viewing on the website of the Luxembourg Stock Exchange at
www.bourse.lu.
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EXECUTION VERSION
1.
(a)
Series Number:
23
(b)
Tranche Number:
1
(c)
Date on which Notes Not Applicable
become fungible:
2.
Specified Currency or Currencies:
Euro ()
3.
Aggregate Nominal Amount:
(a)
Series:
850,000,000
(b)
Tranche:
850,000,000
4.
Issue Price:
99.753% of the Aggregate Nominal Amount
5.
(a) Specified Denomination:
100,000 and integral multiples of 100,000 in
excess thereof
(b) Calculation Amount
100,000
6.
(a) Issue Date:
5 October 2020
(b) Interest Commencement Date Issue Date
7.
Maturity Date:
5 October 2024
8.
Interest Basis:
0.125% Fixed Rate
9.
Redemption/Payment Basis:
Subject to any purchase and cancellation or early
redemption, the Notes will be redeemed on the
Maturity Date at 100% of their nominal amount
10.
Change of Interest or
Not Applicable
Redemption/Payment Basis:
11.
Put/Call Options:
Change of Control Put Option
Residual Maturity Call Option
Substantial Purchase Event
Make-Whole Redemption
(See paragraph 18/19/20/21 below)
12.
Date approval for issuance of
29 September 2020
Notes obtained:
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EXECUTION VERSION
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
13.
Fixed Rate Note Provisions
Applicable
(a)
Rate of Interest:
0.125% per annum payable annually in arrear on
each Interest Payment Date
(b)
Interest Payment Date(s):
5 October in each year from and including 5
October 2021 to and including the Maturity Date
(c)
Fixed Coupon Amount:
125 per Calculation Amount
(d)
Broken Amount(s):
Not Applicable
(e)
Day Count Fraction:
Actual/Actual (ICMA)
(f)
Determination Dates:
5 October in each year
14.
Floating Rate Note Provisions
Not Applicable
15.
Zero Coupon Note Provisions
Not Applicable
PROVISIONS RELATING TO REDEMPTION
16.
Call Option
Not Applicable
17.
Put Option
Not Applicable
18.
Change of Control Put Option
Applicable
(a)
Optional
Redemption 5 business days after expiration of Put Period
Date(s):
19.
Residual Maturity Call Option
Applicable
20.
Substantial Purchase Event
Applicable
21.
Make-Whole Redemption
Applicable
(a)
Make-Whole Redemption The yield to maturity on the third Business Day
Rate:
preceding the Make-Whole Redemption Date of
The Federal Republic of Germany 0.00 per cent.
government bund due 18 October 2024 (ISIN:
DE0001141802)
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EXECUTION VERSION
(b)
Make-Whole Redemption 0.15%
Margin:
22.
Final Redemption Amount of
100,000 per Calculation Amount
each Note
23.
Early Redemption Amount
Early
Redemption
Amount(s) 100,000 per Calculation Amount
payable on redemption for taxation
reasons or on event of default or
other early redemption:
GENERAL PROVISIONS APPLICABLE TO THE NOTES
24.
Form of Notes:
Bearer Notes
Temporary Global Note exchangeable for a
Permanent Global Note which is exchangeable for
Definitive Notes in the limited circumstances
specified in the Permanent Global Note
25.
New Global Note:
Yes
26.
Financial Centre(s):
TARGET2
27.
Talons for future Coupons or
No
Receipts to be attached to
Definitive Notes (and dates on
which such Talons mature):
28.
Details relating to Instalment
Not Applicable
Notes:
THIRD PARTY INFORMATION
Not Applicable
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Signed on behalf of Repsol International Finance B.V.:
By:
....................................
Duly authorised
Signed on behalf of Repsol, S.A.:
By:
....................................
Duly authorised
SIGNATURE PAGE TO FINAL TERMS

PART B OTHER INFORMATION
1.
LISTING AND ADMISSION TO
TRADING
(a)
Admission to trading:
Application is expected to be made by the Issuer
(or on its behalf) for the Notes to be admitted to
trading on the regulated market of the Luxembourg
Stock Exchange with effect from 5 October 2020
or as soon as possible thereafter.
(b)
Estimate of total expenses 3,000
related to admission to
trading:
2.
RATINGS
Ratings:
The Notes to be issued are expected to be rated:

S&P Global Ratings Europe Limited (S&P):
BBB
An obligation rated `BBB' exhibits adequate
protection parameters. However, adverse
economic conditions or changing
circumstances are more likely to weaken the
obligor's capacity to meet its financial
commitments on the obligation.
(Source:
https://www.standardandpoors.com/en_US/w
eb/guest/article/-/view/sourceId/504352)

Moody's Deutschland GmbH (Moody's):
Baa2
An obligation rated `Baa' is judged to be
medium-grade and subject to moderate credit
risk and as such may possess certain
speculative characteristics. The modifier `2'
indicates a mid-range ranking.
(Source:
https://www.moodys.com/ratings-
process/Ratings-Definitions/002002)

Fitch Ratings España, S.A.U (Fitch): BBB
An obligation rated `BBB' indicates that
expectations of default risk are currently low.
The capacity for payment of financial
commitments is considered adequate, but
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adverse business or economic conditions are
more likely to impair this capacity.
(Source:
https://www.fitchratings.com/products/rating-
definitions#about-rating-definitions)
Each of S&P, Moody's and Fitch is established in
the EU. Each of S&P, Moody's and Fitch is
registered under Regulation (EC) No 1060/2009
as amended by Regulation (EC) No. 513/2011 (the
"CRA Regulation"). A list of registered credit
rating agencies is published at the European
Securities and Market Authority's website:
www.esma.europa.eu.
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE
ISSUE/OFFER
Save for any fees payable to the Managers, so far as the Issuer is aware, no person
involved in the issue/offer of the Notes has an interest material to the offer. The Managers
and their affiliates have engaged, and may in the future engage, in investment banking
and/or commercial banking transactions with, and may perform other services for, the
Issuer, the Guarantor and any of their affiliates in the ordinary course of business for
which they may receive fees.
4.
REASONS FOR THE OFFER AND ESTIMATE PROCEEDS
(a)
Reasons for the offer:
The net proceeds of the issue of Notes will be on-
lent by the Issuer to, or invested by the Issuer in,
other companies within the Repsol Group for use
by such companies for their general corporate
purposes.
(b)
Estimated net proceeds:
845,775,500
5.
YIELD
Indication of yield:
0.187%
The yield is calculated at the Issue Date on the
basis of the Issue Price. It is not an indication of
future yield.
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6.
OPERATIONAL INFORMATION
(a)
ISIN:
XS2241090088
(b)
Common Code:
224109008
(c)
FISN:
As set out on the website of the Association of
National
Number
Agencies
("ANNA")
or
alternatively sourced from the responsible national
numbering agency that assigned the ISIN.
(d)
CFI Code:
As set out on the website of the Association of
National
Number
Agencies
("ANNA")
or
alternatively sourced from the responsible national
numbering agency that assigned the ISIN.
(e)
Any clearing system(s) Not Applicable
other than Euroclear and
Clearstream, Luxembourg,
the relevant addresses and
the
identification
number(s):
(f)
Intended to be held in a Yes. Note that the designation "yes" simply means
manner which would allow that the Notes are intended upon issue to be
Eurosystem eligibility:
deposited with one of the ICSDs as common
safekeeper and does not necessarily mean that
the Notes will be recognised as eligible collateral
for Eurosystem monetary policy and intra day
credit operations by the Eurosystem either upon
issue or at any or all times during their life. Such
recognition will depend upon the ECB being
satisfied that Eurosystem eligibility criteria have
been met.
(g)
Delivery:
Delivery against payment
(h)
Names and addresses of Not Applicable
additional Paying Agent(s)
(if any):
7.
DISTRIBUTION
(a)
Method of distribution:
Syndicated
(b)
If syndicated:
(A) Names of Managers:
Banco Santander, S.A.
Barclays Bank PLC
Crédit Agricole Corporate and Investment Bank
Goldman Sachs International
J.P. Morgan Securities plc
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Morgan Stanley & Co. International plc
NATIXIS
UniCredit Bank AG
(B) Stabilising Manager(s) Not Applicable
(if any)
(c)
If non-syndicated, name Not Applicable
of Dealer:
(d)
U.S. Selling Restrictions:
Reg. S Compliance Category 2 / TEFRA D
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