Obligation Caisse Nationale du Financement Local 0.5% ( FR0013310026 ) en EUR

Caisse Nationale du Financement Local

100 % ⇌

France

FR0013310026 ( en EUR )

0.5% par an ( paiement annuel )

19/01/2026 - Obligation échue

Prospectus brochure de l'obligation Caisse Française de Financement Local FR0013310026 en EUR 0.5%, échue

La Caisse Française de Financement Local (CFFL) est un établissement public national français qui assure le financement des collectivités territoriales et de leurs groupements.

L'obligation française FR0013310026 émise par la Caisse Française de Financement Local, d'une valeur nominale de 100% en EUR, avec un taux d'intérêt de 0,5% et une maturité initialement fixée au 19/01/2026, a été intégralement remboursée à échéance.

PRIIPS REGULATION - PROHIBITION OF SALES TO EEA AND UK RETAIL INVESTORS -
The Obligations Foncières 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 (the "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 of the European Parliament and of the Council dated 15 May 2014 on
markets in financial instruments (as amended, "MiFID II"); or (ii) a customer within the meaning of
Directive 2016/97/EU of the European Parliament and of the Council dated 20 January 2016 on
insurance distribution, 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 of the European Parliament and of the Council dated 14 June 2017 on the prospectus to be
published when securities are offered to the public or admitted to trading on a regulated market, as
amended (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
Obligations Foncières or otherwise making them available to retail investors in the EEA or in the UK
has been prepared and therefore offering or selling the Obligations Foncières or otherwise making
them available to any retail investor in the EEA or in the UK may be unlawful under the PRIIPs
Regulation.
MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ELIGIBLE
COUNTERPARTIES ONLY TARGET MARKET Solely for the purposes of the manufacturer's
product approval process, the target market assessment in respect of the Obligations Foncières, taking
into account the five (5) 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 Obligations Foncières is
eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all channels
for distribution of the Obligations Foncières to eligible counterparties and professional clients are
appropriate. Any person subsequently offering, selling or recommending the Obligations Foncières (a
"distributor") should take into consideration the manufacturer's target market assessment; however, a
distributor subject to MiFID II is responsible for undertaking its own target market assessment in
respect of the Obligations Foncières (by either adopting or refining the manufacturer's target market
assessment) and determining appropriate distribution channels.

Final Terms dated 17 August 2020

CAISSE FRANÇAISE DE FINANCEMENT LOCAL
(the "Issuer")
Legal entity identifier (LEI): 549300E6W08778I4OW85

Issue of Euro 150,000,000 0.50 per cent. Obligations Foncières due 19 January 2026 to be assimilated
(assimilées) and form a single series with the existing Euro 1,000,000,000 0.50 per cent. Obligations
Foncières due 19 January 2026 issued on 19 January 2018 as Tranche 1 and the existing Euro 150,000,000
0.50 per cent. Obligations Foncières due 19 January 2026 issued on 14 May 2019 as Tranche 2
(the "Obligations Foncières")
under the
Euro 75,000,000,000
Euro Medium Term Note Programme
for the issue of Obligations Foncières
Due from one month from the date of the original issue

SERIES NO: 2018-1
TRANCHE NO: 3

Issue Price: 104.326 per cent. of the Aggregate Nominal Amount of the Tranche plus an amount corresponding
to accrued interest at a rate of 0.290983607 per cent. of such Aggregate Nominal Amount for the period from,
and including 19 January 2020 to, but excluding, the Issue Date

Name of Manager
Commerzbank Aktiengesellschaft

PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions (the
"Conditions"), which are the 2017 EMTN Conditions which are incorporated by reference in the base
prospectus dated 12 June 2020 which received approval number 20-253 from the Autorité des marchés
financiers (the "AMF") on 12 June 2020 (the "Base Prospectus"), which constitute a base prospectus of Article
8.4 of the Prospectus Regulation.
This document constitutes the final terms (the "Final Terms") of the Obligations Foncières for the purposes of
Article 8.4 of the Prospectus Regulation and must be read in conjunction with the Base Prospectus in order to
obtain all the relevant information, save in respect of section "Terms and Conditions of the Obligations
Foncières" which is replaced by the 2017 EMTN Conditions. The Base Prospectus and these Final Terms are
available for viewing free of charge on the website of the AMF (www.amf-france.org) and on the website of the
Issuer (www.caffil.fr).
1

Issuer:
Caisse Française de Financement
Local
2
(i)
Series Number:
2018-1

(ii)
Tranche Number:
3

(iii)
Date on which the Obligations Foncières
The Obligations Foncières will be
become fungible:
assimilated (assimilées) and form a
single series with the existing Euro
1,000,000,000
0.50
per
cent.
Obligations
Foncières
due
19
January 2026 issued by the Issuer on
19 January 2018, and the existing
Euro 150,000,000 0.50 per cent.
Obligations
Foncières
due
19
January 2026 issued by the Issuer on
14
May
2019
(the
"Existing
Obligations Foncières") as from the
Issue Date of this Tranche.
3
Specified Currency or Currencies:
Euro ("")
4
Aggregate Nominal Amount:

(i)
Series:
1,300,0000,000

(ii)
Tranche:
150,000,000
5
Issue Price:
104.326 per cent. of the Aggregate
Nominal Amount of the Tranche plus
an amount corresponding to accrued
interests at a rate of 0.290983607 per
cent. of such Aggregate Nominal
Amount for the period from, and
including, 19 January 2020 to, but
excluding, the Issue Date.
6
Specified Denomination:
100,000

7
(i)
Issue Date:
19 August 2020

(ii)
Interest Commencement Date:
19 January 2020
8
Maturity Date:
19 January 2026
9
Interest Basis:
0.50 per cent. per annum Fixed Rate
10
Redemption Basis:
Subject
to
any
purchase
and
cancellation or early redemption, the
Obligations
Foncières
will
be
redeemed on the Maturity Date at
100 per cent. of their nominal
amount
11
Change of Interest Basis:
Not Applicable
12
Call Options:
Not Applicable

13
Status of the Obligations Foncières:
Obligations Foncières
Dates of the corporate authorisations
Decision of the Directoire of Caisse
for issuance of Obligations Foncières obtained:
Française de Financement Local dated
12 March 2020
PROVISIONS RELATING TO INTEREST (IF ANY)
PAYABLE
14
Fixed Rate Obligation Foncière Provisions:
Applicable

(i)
Rate of Interest:
0.50 per cent. per annum payable
annually in arrear

(ii)
Interest Payment Dates:
19 January in each year commencing
on 19 January 2020

(iii)
Fixed Coupon Amount:
500 per Obligation Foncière in
nominal amount

(iv)
Broken Amount
Not Applicable

(v)
Day Count Fraction (Condition 5(a)):
Actual/Actual (ICMA)

(vi)
Determination Dates (Condition 5(a)):
19 January in each year

(vii)
Business Day Convention:
Not Applicable

(viii)
Business Centre(s):
Not Applicable
15
Floating Rate Provisions
Not Applicable
16
Zero Coupon Obligation Foncière Provisions:
Not Applicable
17
Inflation Linked Interest Obligation Foncière
Not Applicable
Provisions

18
Index Formula:
Not Applicable
19
Underlying Formula:
Not Applicable
20
CPI Formula:
Not Applicable
21
HICP Formula:
Not Applicable
PROVISIONS RELATING TO REDEMPTION

22
Call Option:
Not Applicable
23
Final Redemption Amount of each Obligation

Foncière:
100,000 per Obligation Foncière of
100,000 Specified Denomination
Inflation Linked Obligations Foncières Provisions

relating to the Final Redemption Amount:
Not Applicable
24
Early Redemption Amount:

Early Redemption for taxation reasons:
Not Applicable
Inflation Linked Obligations Foncières Provisions
Not Applicable
relating to the Early Redemption Amount:

GENERAL PROVISIONS APPLICABLE TO THE OBLIGATIONS FONCIÈRES
25
Form of Obligations Foncières:
Dematerialised Obligations Foncières

(i) Form of Dematerialised Obligations Foncières:
Bearer dematerialised form (au
porteur)

(ii) Registration Agent:
Not Applicable

(iii) Temporary Global Certificate:
Not Applicable

(iv) Applicable TEFRA exemption:
Not Applicable
26
Financial Centre(s) (Condition 7(h)) or other special

provisions relating to Payment Dates:
TARGET

(i)
Adjusted Payment Date (Condition 7(h)):
The next following business day
27
Talons for future Coupons to be attached to

definitive Materialised Obligations Foncières (and

dates on which such Talons mature):
Not Applicable
28
Redenomination,
renominalisation
and

reconventioning provisions:
Not Applicable
29
Consolidation provisions:
Not Applicable
30
Representation of holders of Obligations Foncières 

Masse (Condition 10):
Contractual Masse shall apply

Name
and
address
of
the
Representative:
MASSQUOTE S.A.S.U.
RCS 529 065 880 Nanterre
7 bis rue de Neuilly
F-92110 Clichy
France
Mailing address:
33, rue Anna Jacquin
92100 Boulogne Billancourt
France
Represented by its Chairman
Name and address of the alternate
Representative:
Gilbert Labachotte
8 Boulevard Jourdan
75014 Paris
France
The Representative will receive a
remuneration
of

400
(VAT
excluded) per year.

PURPOSE OF FINAL TERMS
These Final Terms comprise the final terms required for issue and admission to trading on the regulated
markets of Euronext Paris and of the Luxembourg Stock Exchange of the Obligations Foncières described
herein pursuant to the Euro 75,000,000,000 Euro Medium Term Note Programme of Caisse Française de
Financement Local.

RESPONSIBILITY
The Issuer accepts responsibility for the information contained in these Final Terms.

Signed on behalf of the Issuer:
Duly represented by:
Gilles Gallerne
Chairman of the executive board

Signature

numérique de
GALLERNE Gilles
Date :
2020.08.17
15:03:16 +02'00'

PART B OTHER INFORMATION
1
ADMISSION TO TRADING
(i) Listing:

Euronext Paris and the Luxembourg Stock Exchange

(ii) Admission to trading:
Application has been made by the Issuer (or on its behalf) for the
Obligations Foncières to be listed and admitted to trading on the regulated
market of Euronext Paris and of the Luxembourg Stock Exchange with
effect from 19 August 2020.

(iii) Regulated Markets or
The Existing Obligations Foncières are already admitted to trading on the
equivalent markets on
regulated markets of Euronext Paris and the Luxembourg Stock Exchange.
which, to the
knowledge of the

Issuer, securities of the

same class of the
Obligations Foncières

to be admitted to

trading are already
admitted to trading:

(iv) Estimate of total

expenses related to

admission to trading:
5,500
(v) Additional publication

of Base Prospectus and
Website of the regulated market of the Luxembourg Stock Exchange
Final Terms:
(www.bourse.lu)
2
RATINGS AND EURO EQUIVALENT
Ratings:
Applicable:
Obligations Foncières to be issued under
the Programme are expected to be rated:
S&P: AA+
Moody's: Aaa
DBRS: AAA

Each of S&P, Moody's and DBRS is
established in the European Union and is
registered under Regulation (EU) N°
1060/2009 (as amended) (the "CRA
Regulation"). Each of S&P, Moody's and
DBRS is included in the list of credit
rating agencies published by the European
Security and Markets Authority on its
website
(www.esma.europa.eu/supervision/credit-
rating-agencies/risk).

Euro equivalent:
Not applicable

3
SPECIFIC CONTROLLER
The specific controller (contrôleur spécifique) of the Issuer has delivered (i) a certificate relating to the
borrowing programme for the current quarter certifying that the value of the assets of the Issuer will be
greater than the value of its liabilities benefiting from the Privilège with respect to such quarterly
borrowing programme..
4
NOTIFICATION
The Autorité des marchés financiers in France has provided the Commission de surveillance du secteur
financier a certificate of approval attesting that the Base Prospectus has been drawn up in accordance
with the Prospectus Regulation.
5
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save as discussed in the section entitled "Subscription and Sale" of the Base Prospectus so far as the
Issuer is aware, no person involved in the offer of the Obligations Foncières has an interest material to
the offer.

6
USE OF PROCEEDS AND ESTIMATED NET PROCEEDS
(i) Use of proceeds:
The net proceeds will be used for the Issuer's general corporate
purposes.

(ii) Estimated net proceeds:
156,925,475.41 (including 436,475.41 accrued interest for 213
days)

7
YIELD
Indication of yield of Aggregate

Nominal Amount of the Tranche:
-0.291 per cent. per annum of the Aggregate Nominal Amount
of the Tranche
Calculated as per the ICMA method, which determines the
effective interest rate of the Obligations Foncières taking into
account accrued interest on a daily basis on the Issue Date.
As set out above, the yield is calculated at the Issue Date on the
basis of the Issue Price. It is not an indication of future yield.
8
DISTRIBUTION

(i)
Method of distribution:
Non-syndicated

(ii) If syndicated:

(A) Names of Managers:
Not Applicable

(B) Stabilising Manager(s) if any:
Not Applicable

(iii) If non-syndicated, name of Manager:
Commerzbank Aktiengesellschaft

(iv) US Selling Restrictions (Categories of
potential investors to which the Obligations
Foncières are offered):
Reg. S Compliance Category 1 applies to the Obligations
Foncières; TEFRA not applicable

9
OPERATIONAL INFORMATION
ISIN:
FR0013310026
Common Code:
175111646
Depositaries:

Yes
(i)
Euroclear France to act as
Central Depositary:
(ii)
Common
Depositary
for
Euroclear Bank SA/NV and No
Clearstream:
Any clearing system(s) other than

Euroclear and Clearstream and the

relevant identification number(s):
Not Applicable
Delivery:
Delivery against payment
Name and address of the Calculation
Not Applicable
Agent:
Names and addresses of initial Paying
Banque Internationale à Luxembourg, société
Agent(s):
anonyme
69, route d'Esch
L-2953 Luxembourg
Grand-Duchy of Luxembourg
Names and addresses of additional
Paying Agent(s) (if any):
Not Applicable