Obligation BPCe 0% ( FR0010989079 ) en EUR

BPCe

100 % ⇌

France

FR0010989079 ( en EUR )

21/01/2041 - Obligation échue

Prospectus brochure de l'obligation BPCE FR0010989079 en EUR 0%, échue

BPCE est un groupe bancaire coopératif français, le deuxième plus important du pays, constitué des réseaux Banques Populaires et Caisses d'Épargne, ainsi que de sa filiale Natixis.

L'obligation FR0010989079 émise par BPCE en euros, d'une maturité initiale fixée au 21/01/2041, avec un taux d'intérêt de 0% et une fréquence de paiement annuel, a atteint sa maturité et a été intégralement remboursée à 100% de sa valeur nominale.

Final Terms dated 21 January 2011

BPCE S.A.

Euro 40,000,000,000
Euro Medium Term Note Programme
for the issue of Notes

SERIES NO: 2011-1

Issue of EUR 208,500,000 Zero Coupon Notes due 21 January 2041

UBS Limited
as Dealers

PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the
"Conditions") set forth in the Base Prospectus dated 5 November 2010 and the Base Prospectus
Supplements dated 16 November 2010 and 14 December 2010 which together constitute a base
prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC) (the "Prospectus
Directive"). This document constitutes the Final Terms of the Notes described herein for the purposes
of Article 5.4 of the Prospectus Directive and must be read in conjunction with such 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 and the Base
Prospectus Supplement(s)are available for viewing at the office of the Fiscal Agent or each of the
Paying Agents and on the website of the regulated market where the admission to trading is sought
and copies may be obtained from BPCE S.A., 50 avenue Pierre Mendès-France, 75013 Paris, France.

1. Issuer:
BPCE S.A.
2. (i) Series Number:
2011-1
(ii)
Tranche Number:
1
3. Specified Currency or Currencies:
EURO ("EUR")

4. Aggregate Nominal Amount of Notes

admitted to trading:
(i)
Series:
EUR 208,500,000
(ii)
Tranche:
EUR 208,500,000
5. Issue Price:
21.60602218 per cent. of the Aggregate Nominal Amount
6. Specified Denomination(s):
EUR 100,000
7. (i)
Issue Date:
21 January 2011

(ii)
Interest Commencement
Issue Date
Date:
8. Maturity Date:
21 January 2041, subject to adjustment in accordance
with the Following Business Day Convention
9. Interest Basis:
Zero Coupon

10. Redemption/Payment Basis:
Redemption at par

11. Change of Interest or
Not Applicable
Redemption/Payment Basis:
12. Put/Call Options:
Issuer Call
13. (i) Status of the Notes:
Senior, Unsecured and Unsubordinated
(ii)
Dates
of
the
corporate Decision of the Directoire of the Issuer dated 12 July 2010
authorisations for issuance of and of Mr. Roland Charbonnel, Director Group Funding
Notes obtained:
and Investor Relations, dated 04 January 2011.
14. Method of distribution:
Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15. Fixed Rate Note Provisions
Not Applicable
16. Floating Rate Note Provisions
Not Applicable
17. Zero Coupon Note Provisions
Applicable
(i)
Amortisation Yield (Condition 5.24 per cent. per annum
6(e)(i)):
(ii)
Day Count Fraction
Actual/Actual - ICMA (Following Unadjusted)
(Condition
5(a)):
(iii)
Any other formula/basis of
Not Applicable
determining amount payable:

18. Index-Linked
Interest
Note/other Not Applicable
variable-linked
interest
Note
Provisions
19. Dual Currency Note Provisions
Not Applicable

PROVISIONS RELATING TO REDEMPTION
20. Call Option
Applicable
(i)
Optional Redemption Date(s):
The Issuer may redeem the Notes, in whole but not in
part, on the Optional Redemption Dates as shown in the
Early Redemption Schedule below upon giving written
notice of at least five Business Days prior to such
Optional Redemption Date to the holders of the Notes.
(ii) Optional Redemption Amount(s)
Early Redemption Schedule:
of each Note and method, if any, of
Optional Redemption Date Optional Redemption Amount
calculation of such amount(s):

21 January 2021 EUR 75,073,950.74
21 January 2026 EUR 96,915,550.75
21 January 2031 EUR 125,111,625.07
21 January 2036 EUR 161,510,909.31
21 January 2041 EUR 208,500,000.00

(If any Optional Redemption Date is not a TARGET
Settlement Day the first following day shall be used which
is a TARGET Settlement Day, provided that, in such case,
no adjustment shall be made to the Optional Redemption
Amounts shown above.)

(iii) If redeemable in part:

(a) Minimum Redemption
Please see section 20 (ii)
Amount
to be redeemed:
(b) Maximum Redemption
Please see section 20 (ii)
Amount to be redeemed:
(iv)
Notice period:
Eight Business Days prior to the Optional Redemption
Date to the holders of the Notes
21. Put Option
Not Applicable

22. Final Redemption Amount of each
EUR 100,000 per Specified Denomination
Note
23. Early Redemption Amount

(i)
Early Redemption Amount(s) of
each
Note
payable
on
redemption for taxation reasons
(Condition 6(f)), for illegality
(Condition 6(j)) or on event of
default (Condition 9) or other
early redemption and/or the
method of calculating the same
(if required or if different from Not Applicable
that set out in the Conditions):
(ii)
Redemption
for
taxation
reasons permitted on days
others than Interest Payment Yes
Dates (Condition 6(f)):
(iii) Unmatured
Coupons
to
become
void
upon
early Not Applicable
redemption
(Materialised
Bearer Notes only) (Condition
7(f)):
GENERAL PROVISIONS APPLICABLE TO THE NOTES
24. Form of Notes:
Dematerialised Notes
(i)
Form of Dematerialised Notes:
Bearer form (au porteur)
(ii)
Registration Agent:
Not Applicable
(iii) Temporary Global Certificate:
Not Applicable
(iv) Applicable TEFRA exemption:
Not Applicable
25. Financial Centre(s) or other special

provisions relating to Payment Dates:
TARGET
Adjusted Payment Date:
The next following business day
26. Talons
for
future
Coupons
or
Receipts to be attached to Definitive
Notes (and dates on which such Not Applicable
Talons mature):
27. Details relating to Partly Paid Notes:
amount of each payment comprising
the Issue Price and date on which
each payment is to be made and
consequences (if any) of failure to Not Applicable
pay:
28. Details relating to Instalment Notes:
amount of each instalment, date on
which each payment is to be made:
Not Applicable

29. Redenomination,
renominalisation Not Applicable
and reconventioning provisions:
30. Consolidation provisions:
Not Applicable
31. Masse:
Applicable

The initial Representative will be:
BNP Paribas Securities Services
Global Corporate Trust
Les Grands Moulins de Pantin
9 rue du Débarcadère
93500 PANTIN
France
represented by Mr. Sylvain THOMAZO

The alternate Representative will be:
Sandrine D'HAUSSY
69 avenue Gambetta
94100 Saint Maur des Fossés
France

32. Other final terms:
Not Applicable

DISTRIBUTION

33. (i) If
syndicated,
names
of Not Applicable
Managers:
(ii) Stabilising Manager(s) (if any):
Not Applicable
(iii) Date of Subscription Agreement:
Not Applicable
34. If non-syndicated, name and address
of Dealer:
UBS Limited
1 Finsbury Avenue London EC2M 2PP
35. Additional selling restrictions:
Not Applicable
36. Commission and concession:
Not Applicable
GENERAL

37. The aggregate principal amount of

Notes issued has been translated

into Euro at the rate of [·] producing a Not Applicable
sum of:

PURPOSE OF FINAL TERMS
These Final Terms comprise the final terms required for issue and admission to trading on Paris Stock
Exchange of the Notes described herein pursuant to the Euro 40,000,000,000 Euro Medium Term
Note Programme of BPCE S.A..
RESPONSIBILITY
The Issuer accept responsibility for the information contained in these Final Terms.
Signed on behalf of BPCE S.A.:
Duly represented by:

Roland Charbonnel, Director Group Funding and Investor Relations

PART B OTHER INFORMATION

1
LISTING AND ADMISSION TO TRADING
(i) Listing:
Official list of the Paris Stock Exchange
(ii) Admission to trading:
Application has been made by the Issuer (or on its behalf)
for the Notes to be admitted to trading on Paris Stock
Exchange with effect from 21 January 2011
(iii) Estimate of total expenses

related to admission to trading:
EUR 12,400
(iv) Other regulated markets on
Not Applicable
which, to the knowledge of the
Issuer, securities of the same
class of the Notes are already
admitted to trading:

2.
RATINGS
Not Applicable
Ratings:

3.
REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES*

(i) Reasons for the offer:
The net proceeds of the issue of the Unsubordinated Notes
will be used for the Issuer's general corporate purposes unless
otherwise specified in the relevant Final Terms.

4.
Fixed Rate Notes only  YIELD
Indication of yield:
Not Applicable
8.
OPERATIONAL INFORMATION
ISIN Code:
FR0010989079
Common Code:
057655291
Depositaries:

(i)
Euroclear France to act as
Central Depositary:
Yes

(ii)
Common Depositary for
Euroclear and Clearstream
Luxembourg:
Yes
Any clearing system(s) other than Not Applicable
Euroclear
and
Clearstream,
Luxembourg and the relevant
identification number(s):
Delivery:
Delivery free of payment
Names and addresses of

additional Paying Agent(s) (if any):
Not Applicable