Obligation Crédit Agricole SA 2.3625% ( CH1294486357 ) en CHF

Crédit Agricole SA

100 % ⇌

France

CH1294486357 ( en CHF )

2.3625% par an ( paiement annuel )

05/10/2028

Prospectus brochure de l'obligation Crédit Agricole CH1294486357 en CHF 2.3625%, échéance 05/10/2028

5 000 CHF

160 000 000 CHF

05/10/2026 ( Dans 335 jours )

Crédit Agricole est un groupe bancaire coopératif français, présent à l'international, structuré autour de caisses régionales et proposant une large gamme de services financiers.

L'Obligation émise par Crédit Agricole SA ( France ) , en CHF, avec le code ISIN CH1294486357, paye un coupon de 2.3625% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 05/10/2028

DocuSign Envelope ID: 324AF6C7-BD1E-4D10-9C7F-861893BDC44B
MIFID II product governance / professional investors, ECPs and Retail investors (Switzerland
only) 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, professional clients and retail clients (for retails clients,
in Switzerland only - for the avoidance of doubt, no retail clients in the European Economic Area
shal be targeted), each as defined in Directive 2014/65/EU (as amended, "MiFID II"); (i ) all channels
for distribution of the Notes to eligible counterparties and professional clients are appropriate and
(i i) the fol owing channels for distribution of the Notes to retail clients in Switzerland are appropriate
investment advice, portfolio management, non-advised sales and pure execution services
subject to the distributor's suitability and appropriateness obligations under MiFID II, as applicable.
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, subject to the distributor's suitability and appropriateness
obligations under MiFID II, as applicable. The Notes wil be offered to the public in Switzerland only.
UK MIFIR product governance / professional investors, ECPs and Retail investors
(Switzerland only) Solely for the purposes of the 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 retail clients (for retails clients, in
Switzerland only - for the avoidance of doubt, no retail clients in the United Kingdom shall be
targeted), as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018 ("EUWA"), 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 EUWA ("UK MiFIR"); (i ) all channels for distribution of the Notes to eligible
counterparties and professional clients are appropriate and (i i) the fol owing channels for distribution
of the Notes to retail clients in Switzerland are appropriate investment advice, portfolio
management, non-advised sales and pure execution services subject to the distributor's suitability
and appropriateness obligations under COBS, as applicable. Any person subsequently offering,
selling or recommending the Notes (a "distributor") should take into consideration the
manufacturer's 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, subject to the distributor's suitability and appropriateness
obligations under COBS, as applicable. The Notes wil be offered to the public in Switzerland only.

DocuSign Envelope ID: 324AF6C7-BD1E-4D10-9C7F-861893BDC44B
Final Terms dated 3 October 2023
Crédit Agricole S.A.
Legal Entity Identifier (LEI) of the Issuer is 969500TJ5KRTCJQWXH05
Euro Medium Term Note Programme
Series No: 680
Tranche No: 1
Issue of CHF 160,000,000 2.3625 per cent. Senior Preferred Fixed Rate Notes due
5 October 2028 (the "Notes")
Issued by: Crédit Agricole S.A. (the "Issuer")
Joint Lead Managers
CRÉDIT AGRICOLE CIB
UBS AG

DocuSign Envelope ID: 324AF6C7-BD1E-4D10-9C7F-861893BDC44B
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 Notes" in the base prospectus dated 6 April 2023 which has
received approval no. 23-102 from the Autorité des marchés financiers (the "AMF") on 6 April 2023,
the first supplement to it dated 22 May 2023 which has received approval no. 23-172 from the AMF
on 22 May 2023 and the second supplement to it dated 16 August 2023 which has received approval
no. 23-359 from the AMF on 16 August 2023 and 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 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-et-
notations/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 États-
Unis, 92127 Montrouge Cedex, France.
1.
Issuer:
Crédit Agricole S.A.
2.

(i)
Series Number:
680

(i )
Tranche Number:
1
(i i)
Date on which the Notes
become fungible:
Not Applicable
3.
Specified Currency or Currencies:
Swiss Francs ("CHF")
4.
Aggregate Nominal Amount:

(i)
Series:
CHF 160,000,000.00

(i )
Tranche:
CHF 160,000,000.00
5.
Issue Price:
100.00 per cent. of the Aggregate Nominal
Amount
6.
Specified Denomination:
CHF 5,000,
CHF
100,000
and
CHF 1,000,000
7.
(i)
Issue Date:
5 October 2023
(i )
Interest Commencement Date:
Issue Date
8.
Maturity Date:
5 October 2028
9.
Interest Basis:
2.3625 per cent. per annum Fixed Rate
(further particulars specified in paragraph
15 below)
10.
Redemption Basis:
Subject to any purchase and cancel ation or
early redemption, the Notes wil be
redeemed on the Maturity Date at
100.00 per cent. of their nominal amount
11.
Change of Interest Basis:
Not Applicable
12.
Noteholder Put/Issuer Cal :
Not Applicable
13.
Status:
Senior Preferred Notes
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DocuSign Envelope ID: 324AF6C7-BD1E-4D10-9C7F-861893BDC44B
14.
Dates of the corporate authorisations for Resolution of the Board of Directors of the
issuance of the Notes:
Issuer dated 8 February 2023 and the
décision d'émission dated 3 October 2023
Provisions Relating to Interest (if any) Payable
15.
Fixed Rate Note
Applicable
(i)
Rate of Interest:
2.3625 per cent. per annum payable
annual y in arrear on each Interest Payment
Date
(i )
Interest Payment Dates:
5 October in each year from (and including)
5 October 2024 up to (and including) the
Maturity Date
(i i)
Fixed Coupon Amount:
CHF 118.125 per Note of CHF 5,000
Specified Denomination,
CHF 2,362.50 per Note of CHF 100,000
Specified Denomination, and
CHF 23,625 per Note of CHF 1,000,000
Specified Denomination,
payable on each Interest Payment Date
(iv)
Broken Amounts:
Not Applicable
(v)
Day Count Fraction:
30/360, not adjusted
(vi)
Determination Dates:
Not Applicable
(vii)
Resettable Notes:
Not Applicable
16.
Floating Rate Note:
Not Applicable
17.
Zero Coupon Note:
Not Applicable
18.
CMS Linked Note:
Not Applicable
19.
Inflation Linked Notes:
Not Applicable
Provisions Relating to Redemption
20.
Redemption at the Option of the Issuer
(Issuer Call):
Not Applicable
21.
Clean-up Redemption Option:
Applicable
(i)
Clean-up Percentage:
75 per cent.
(i )
Notice Period:
As per Conditions
(i i)
Optional Redemption Amount(s)
of each Note and method, if any, of
calculation of such amount(s):
CHF 5,000 per Note of CHF 5,000
Specified Denomination,
CHF 100,000 per Note of CHF 100,000
Specified Denomination, and
CHF 1,000,000 per Note of CHF 1,000,000
Specified Denomination
A52353153
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DocuSign Envelope ID: 324AF6C7-BD1E-4D10-9C7F-861893BDC44B
(iv)
Optional Clean-up Redemption
Date(s) (solely if the Clean-Up
Percentage is reached):
At any time
22.
Redemption at the Option of
Noteholders (Noteholder Put):
Not Applicable
23.
MREL/TLAC Disqualification Event Cal
Option:
Not Applicable
24.
Final Redemption Amount of each Note: Subject to any purchase and cancel ation or
early redemption, the Notes wil be
redeemed on the Maturity Date at
100.00 per cent. of their outstanding
principal amount
25.
Early Redemption Amount of each Note: CHF 5,000 per Note of CHF 5,000
Specified Denomination,
CHF 100,000 per Note of CHF 100,000
Specified Denomination, and
CHF 1,000,000 per Note of CHF 1,000,000
Specified Denomination
26.
Make-Whole Redemption Amount:
Not Applicable
27.
Events of Default
Not Applicable
General Provisions Applicable to the Notes
28.
(i)
Form of Notes (Bearer Notes):
Materialised Notes
(i )
Form of Dematerialised Notes:
Not Applicable
(i i)
Registration Agent:
Not Applicable
(iv)
Calculation Agent:
UBS AG
P.O. Box
CH-8098 Zurich
Switzerland
(v)
Temporary Global Certificate:
Temporary Global Certificate exchangeable
for Definitive Materialised Bearer Notes on
14 November 2023 (the "Exchange Date"),
being the first Business Day fal ing on or
after the expiry of 40 calendar days after the
Issue Date subject to postponement as
provided in the Temporary Global
Certificate.
Condition 1 shall be amended and
supplemented (for the purposes of the
Notes described herein only) as follows:
"The Notes and all rights in connection
therewith are documented in the form of a
Temporary Global Certificate which shall be
deposited by the Principal Swiss Paying
Agent (as defined below) with SIX SIS Ltd
or any other intermediary in Switzerland
A52353153
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DocuSign Envelope ID: 324AF6C7-BD1E-4D10-9C7F-861893BDC44B
recognized for such purposes by SIX Swiss
Exchange Ltd (SIX SIS Ltd or any such
other intermediary, the "Intermediary") until
printing of Definitive Materialised Bearer
Notes. Once the Temporary Global
Certificate
is
deposited
with
the
Intermediary and entered into the accounts
of one or more participants of the
Intermediary, the Notes wil , for Swiss law
purposes,
constitute
intermediated
securities (Bucheffekten for Swiss law
purposes) ("Intermediated Securities") in
accordance with the provisions of the Swiss
Federal Intermediated Securities Act
(Bucheffektengesetz
for
Swiss
law
purposes).
Each Noteholder (as defined below) shal ,
for Swiss law purposes, have a quotal co-
ownership interest (Miteigentumsanteil) in
the Temporary Global Certificate and
following its exchange, in the Definitive
Materialised Bearer Notes and the related
Coupons to the extent of the Noteholder's
claim against the Issuer, provided that for so
long as the Temporary Global Certificate
and, fol owing its exchange the Definitive
Materialised Bearer Notes and the related
Coupons remain deposited with the
Intermediary, the co-ownership interest
shal be suspended.
The records of the Intermediary wil
determine the number of Notes held
through
each
participant
in
that
Intermediary. In respect of the Notes held in
the form of Intermediated Securities, the
holders of the Notes (the "Noteholders")
wil be the persons holding the Notes in a
securities account in their own name and for
their own account and related expressions
shal be construed accordingly.
The Definitive Materialised Bearer Notes for
which the Temporary Global Certificate wil
be exchanged shal (i) be duly executed and
authenticated, (i ) where applicable, have
attached to them all Coupons in respect of
interest, that have not already been paid on
A52353153
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DocuSign Envelope ID: 324AF6C7-BD1E-4D10-9C7F-861893BDC44B
the Temporary Global Certificate and (i i) be
security printed in accordance with
applicable legal and stock exchange
requirements.
On exchange in ful and surrender of the
Temporary Global Certificate for Definitive
Materialised Bearer Notes, the Principal
Swiss Paying Agent shal procure that it is
cancelled and (unless otherwise instructed
by the Issuer) returned to the Issuer.
Neither the Issuer nor the Noteholders shal
at any time have the right to effect or
demand the conversion of the Definitive
Materialised Bearer Notes into, or the
delivery of, a permanent global certificate
(Globalurkunde for Swiss law purposes) or
Dematerialised Notes (Wertrechte for Swiss
law purposes) or Definitive Materialised
Bearer Notes (Wertpapiere for Swiss law
purposes).
The Definitive Materialised Bearer Notes
(Wertpapiere for Swiss law purposes) shal
only be individually delivered to the
Noteholders, if the Principal Swiss Paying
Agent determines, in its sole discretion, that
the delivery of the Definitive Materialised
Bearer Notes (Wertpapiere for Swiss law
purposes) is necessary or useful, against
cancellation of the Notes in the Noteholders'
securities accounts. For the avoidance of
doubt, in circumstances where the Principal
Swiss Paying Agent decides not to deliver
the Definitive Materialised Bearer Notes
(Wertpapiere for Swiss law purposes), the
Noteholders shal not have any recourse to
the Issuer."
29.
Exclusion of the possibility to request
identification of a Noteholder as Provided
by Condition 1(a):
Not Applicable
30.
Financial Center:
Zurich
31.
Talons for future Coupons or Receipts to
be attached to Definitive Materialised
Bearer Notes (and dates on which such
Talons mature):
Not Applicable
32.
Details relating to Instalment Notes:
Not Applicable
33.
Applicable tax regime:
Condition 9(a) applies
A52353153
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DocuSign Envelope ID: 324AF6C7-BD1E-4D10-9C7F-861893BDC44B
34.
Representation of holders of Notes
Masse:
Contractual Masse shall apply
Primary Appointed Representative: as per
the Conditions F&S Financial Services,
13 rue Oudinot, 75007 Paris, France
Alternate Appointed Representative: as per
the Conditions Aether Financial Services,
36 rue de Monceau, 75008 Paris, France
The Primary Appointed Representative or,
as the case may be, the Alternate
Appointed Representative, wil receive a
remuneration of Euro 300 per year
(excluding taxes), payable as per the
Conditions.
35.
Other final terms:
Condition 7 shall be supplemented and
amended by the following:
"The receipt by the Principal Swiss Paying
Agent (as defined below) of the due and
punctual payment of funds in Swiss Francs
(CHF) in Zurich, in the manner provided by
the Conditions and these Final Terms shal
release the Issuer from its obligations under
the Notes and Coupons for the payment of
interest and principal due on the relevant
Interest Payment Date and on the Maturity
Date to the extent of such payment.
Payment of principal and/or interest under
the Notes shall be made, in freely
disposable
Swiss
Francs,
upon
presentation of the relevant Note (in the
case of principal) and Coupon (in the case
of interest) only at the offices of the Principal
Swiss Paying Agent in Switzerland or at the
offices of additional banks domiciled in
Switzerland if and when such additional
banks wil be nominated as Swiss paying
agents (together with the Principal Swiss
Paying Agent, the "Swiss Paying Agents"),
without collection costs in Switzerland and
without any restrictions and whatever the
circumstances may be, irrespective of
nationality, domicile or residence of the
Noteholders or Couponholders and without
requiring any certification, affidavit or the
fulfilment of any other formality.
A52353153
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DocuSign Envelope ID: 324AF6C7-BD1E-4D10-9C7F-861893BDC44B
So long as the Notes are listed on the SIX
Swiss Exchange, the Issuer wil maintain a
Paying Agent for the Notes having a
specified office in Switzerland and all
references in the Conditions to the Paying
Agents shal , where applicable, for the
purposes of the Notes only, be construed as
references to the Swiss Paying Agents and
wil at no time include a Paying Agent
having
a
specified
office
outside
Switzerland, unless permitted by applicable
law."
Condition
15
Notices
shall
be
supplemented by the following:
"So long as the Notes are listed on the SIX
Swiss Exchange and so long as the SIX
Swiss Exchange so require, al notices
regarding the Notes and the Coupons shal
be given by publication (i) on the internet
website of the SIX Swiss Exchange
(currently
https://www.six-
group.com/en/products-services/the-swiss-
stock-exchange/market-data/news-
tools/official-notices.html) or (i ) otherwise in
accordance with the regulations of the SIX
Swiss Exchange. Any notices so given wil
be deemed to have been validly given on
the date of such publication or if published
more than once, on the first date of such
publication."
Responsibility
I hereby accept responsibility for the information contained in these Final Terms.
Signed on behalf of the Issuer on 3 October 2023
Duly represented by: Laurent Côte
A52353153
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DocuSign Envelope ID: 324AF6C7-BD1E-4D10-9C7F-861893BDC44B
PART B -- OTHER INFORMATION
1. LISTING AND ADMISSION TO TRADING
(i)
Listing:
The Notes have been provisionnally admitted to
trading on SIX Swiss Exchange with effect from
3 October 2023. Application for listing of the
Notes in accordance with the standard for
Bonds at SIX Swiss Exchange wil be only made
subsequent to the Issue Date
(i )
Estimate of total expenses
related to admission to trading:
CHF 3,602
2. RATINGS
The Notes to be issued have been rated:
Standard & Poor's: A+
Moody's: Aa3
Fitch: AA-
Standard & Poor's, Moody's and Fitch are
established in the European Union and are
registered under Regulation (EC) No 1060/2009
(the "CRA Regulation"). 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
(www.standardandpoors.com), an "A" rating
means that the Issuer's capacity to meet its
financial commitments on the obligation is
strong but somewhat susceptible to economic
conditions and changes in circumstances. The
addition of a plus (+) sign shows relative
standing within that rating categories.
As defined by Moody's (www.moodys.com),
obligations rated "Aa3" are judged to be of high
quality and are thus subject to very low credit
risk. The modifier 3 indicates a ranking in the
lower end of that generic rating category.
As defined by Fitch (www.fitchratings.com), an
"AA" rating denotes expectations of very low
default risk. It indicates very strong capacity for
payment of financial commitments. This
capacity is not significantly vulnerable to
foreseeable events. The modifier (-) is
A52353153
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Document Outline

PART A „ CONTRACTUAL TERMS
PART B „ OTHER INFORMATION