Obligation Crédit Agricole SA 1.5% ( FR0013368388 ) en EUR

Crédit Agricole SA

100 % ⇌

France

FR0013368388 ( en EUR )

1.5% par an ( paiement annuel )

28/09/2038 - Obligation échue

Prospectus brochure de l'obligation Crédit Agricole FR0013368388 en EUR 1.5%, échue

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 EUR, avec le code ISIN FR0013368388, paye un coupon de 1.5% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 28/09/2038

Final Terms dated 26 September 2018

CRÉDIT AGRICOLE HOME LOAN SFH
Issue of 1,000,000,000 1.50 per cent. Covered Bonds due 28 September 2038
extendible as Floating Rate Covered Bonds up to 28 September 2039
under the 35,000,000,000 Covered Bond Program
Issue Price: 98.165 per cent.

Joint Lead Managers
BAYERISCHE LANDESBANK
CRÉDIT AGRICOLE CIB
LANDESBANK BADEN-WÜRTTEMBERG
NATIXIS
THE TORONTO-DOMINION BANK

Co-Lead Managers

BANKHAUS LAMPE KG
DZ BANK AG

PROHIBITION OF SALES TO EUROPEAN ECONOMIC AREA RETAIL INVESTORS The Covered
Bonds 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"). 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"); (ii) a customer within the meaning of Directive 2016/97/EU,
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 Directive 2003/71/EC, as amended (the "Prospectus Directive").
Consequently, no key information document required by Regulation (EU) No. 1286/2014 (the "PRIIPs
Regulation") for offering or selling the Covered Bonds or otherwise making them available to retail investors in
the EEA has been prepared and therefore offering or selling the Covered Bonds or otherwise making them
available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.

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 Covered Bonds, 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
Covered Bonds is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all
channels for distribution of the Covered Bonds to eligible counterparties and professional clients are appropriate.
Any person subsequently offering, selling or recommending the Covered Bonds (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 Covered Bonds (by either adopting
or refining the manufacturers' target market assessment) and determining appropriate distribution channels.

WS0101.28002506.1

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") set forth in the base prospectus dated 7 February 2018 which received visa no. 18-035 from the
Autorité des marchés financiers (the "AMF") on 7 February 2018, the first supplement to the base prospectus
dated 11 April 2018 which received visa no. 18-129 from the AMF on 11 April 2018, the second supplement to the
base prospectus dated 1 June 2018 which received visa no. 18-222 from the AMF on 1 June 2018 and the third
supplement to the base prospectus dated 25 September 2018 which received visa no. 18-454 from the AMF on 25
September 2018, which together constitute a base prospectus (the "Base Prospectus") for the purposes of the
Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003, as amended (the
"Prospectus Directive").
This document constitutes the final terms of the Covered Bonds (the "Final Terms") 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 Covered Bonds is only available on the basis of the combination of these
Final Terms and the Base Prospectus. The Base Prospectus and these Final Terms are available for viewing on the
websites of Crédit Agricole S.A. (www.credit-agricole.com) and of the AMF (www.amf-france.org), and during
normal business hours at the registered office of the Issuer and at the specified office of the Paying Agent(s) where
copies may be obtained.
1.
Issuer:
Crédit Agricole Home Loan SFH
2.
(i)
Series Number:
69

(ii)
Tranche Number:
1

(iii)
Date on which the Covered Bonds
will be assimilated (assimilables) and form a
single series:
Not Applicable
3.
Specified Currency:
Euro ("")
4.
Aggregate Nominal Amount of Covered Bonds:

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

(ii)
Tranche:
1,000,000,000
5.
Issue Price:
98.165 per cent. of the Aggregate Nominal
Amount
6.
Specified Denominations:
100,000
7.
(i)
Issue Date:
28 September 2018

(ii)
Interest Commencement Date:
Issue Date
8.
Final Maturity Date:
28 September 2038
The Covered Bonds having a soft bullet maturity,
in accordance with Condition 7(a) will be
redeemed at the Final Maturity Date unless their
maturity is extended to the Extended Final
Maturity Date as specified below.
9.
Extended Final Maturity Date:
28 September 2039
The Final Maturity Date will be extended
automatically to the Extended Final Maturity Date
if the Final Redemption Amount is not paid by the
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WS0101.28002506.1

Issuer on the Final Maturity Date. In such case, the
payment of such Final Redemption Amount shall
be automatically deferred and shall become due
and payable on the Extended Final Maturity Date,
provided that (i) any amount representing the Final
Redemption Amount remaining unpaid on the
Final Maturity Date may be paid by the Issuer on
any Specified Interest Payment Date thereafter and
(ii) interest will continue to accrue on any unpaid
amount during such extended period at the
relevant newly applicable Rate of Interest and be
payable on each relevant Specified Interest
Payment Date.
10.
Interest Basis:
1.50 per cent. Fixed Rate for the period from and
including the Issue Date to but excluding the Final
Maturity Date (further particulars specified in
paragraph 15 below).

EURIBOR 1 month plus 0.12 per cent. per annum
Floating Rate for the period from and including the
Final Maturity Date to but excluding the Extended
Final Maturity Date, or if earlier the date on which
the Covered Bonds are redeemed in full (further
particulars specified in paragraph 16 below).

11.
Redemption/Payment Basis:
Subject to any purchase and cancellation or early
redemption, the Covered Bonds will be redeemed
at 100 per cent. of their nominal amount.
12.
Change of Interest Basis:
Interest will accrue on a Fixed Rate basis until the
Final Maturity Date and on a Floating Rate basis
thereafter.
13.
Put/Call Options:
Not Applicable

14.
Date of Board approval for issuance of Covered
Bonds obtained:
19 December 2017, 18 June 2018 and 18
September 2018
PROVISIONS RELATING TO INTEREST PAYABLE
15.
Fixed Rate Covered Bond Provisions:
Applicable until the Final Maturity Date

(i)
Rate of Interest:
1.50 per cent per annum payable in arrear on each
Interest Payment Date

(ii)
Interest Payment Dates:
28 September in each year, from and including 28
September 2019 up to and including the Final
Maturity Date.

(iii)
Fixed Coupon Amount:
1,500 per 100,000 in Specified Denomination.

(iv)
Broken Amount:
Not Applicable

(v)
Day Count Fraction:
Actual/Actual (ICMA) (following unadjusted)

(vi)
Determination Dates:
28 September in each year
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WS0101.28002506.1

16.
Floating Rate Covered Bond Provisions:
Applicable if the Final Maturity Date is extended
until the Extended Final Maturity Date.

(i)
Interest Periods:
The period from and including the Final Maturity
Date to but excluding the first Specified Interest
Payment Date and each successive period from
and including a Specified Interest Payment Date
to but excluding the next succeeding Specified
Interest Payment Date, up to and excluding the
Extended Final Maturity Date or, if earlier the
Specified Interest Payment Date on which the
Covered Bonds are redeemed in full subject to
adjustment in accordance with the Business Day
Convention set out in (v) below

(ii)
Specified Interest Payment Dates:
28th day of each month from (and including) 28
October 2038 to (and including) 28 September
2039, subject to adjustment in accordance with the
Business Day Convention set out in (v) below

(iii)
First Interest Payment Date:
28 October 2038

(iv)
Interest Period Date:
Not Applicable

(v)
Business Day Convention:
Modified Following Business Day Convention
(adjusted)

(vi)
Business Centre(s) (Condition 6(a)):
TARGET 2

(vii)
Manner in which the Rate(s) of Interest
is/are to be determined:
Screen Rate Determination

(viii)
Party responsible for calculating the
Rate(s) of Interest and/or Interest
Amount(s) (if not the Calculation
Agent):
Not Applicable

(ix)
Screen Rate Determination:
Applicable

Benchmark:
EURIBOR 1 month

Relevant Time:
11.00 a.m. Brussels time

Interest Determination Dates:
Two (2) TARGET 2 Business Days prior to the
beginning of each Interest Period
Primary Source:
Reuters Page EURIBOR01

Reference Banks (if Primary Source is "Reference Not Applicable
Banks"):

Relevant Financial Centre:
Euro Zone

Representative Amount:
Not Applicable

Effective Date:
Not Applicable

Specified Duration:
1 month
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WS0101.28002506.1

(x)
ISDA Determination:
Not Applicable

(xi)
Linear Interpolation:
Not Applicable

(xii)
Margin:
+0.12 per cent. per annum

(xiii)
Minimum Rate of Interest:
0 per cent. per annum

(xiv)
Maximum Rate of Interest:
Not Applicable

(xv)
Day Count Fraction:
Actual/360
17.
Fixed/Floating Rate Covered Bonds Provisions: Not Applicable
18.
Zero Coupon Covered Bond Provisions:
Not Applicable
PROVISIONS RELATING TO REDEMPTION
19.
Call Option:
Not Applicable

20.
Put Option:
Not Applicable
21.
Final Redemption Amount of each Covered
Bond:
100,000 per Covered Bond of 100,000 Specified
Denomination

22.
Early Redemption Amount:

Early Redemption Amount(s) of each Covered
Bond payable on redemption for taxation reasons,
illegality or on event of default:
Applicable
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
23.
Form of Covered Bonds:
Dematerialised Covered Bonds

(i)
Form of Dematerialised Covered Bonds: Bearer form (au porteur)

(ii)
Registration Agent:
Not Applicable

(iii)
Temporary Global Certificate:
Not Applicable

24.
Financial Centre(s):
TARGET Business Day
25.
Talons for future Coupons or Receipts to be
attached to Definitive Materialised Covered Bonds
(and dates on which such Talons mature):
Not Applicable
26.
Details relating to Instalment Covered Bonds:

Not Applicable
27.
Masse (Condition 12):
Contractual Masse shall apply
Name and address of the Representative: F&S
Financial Services, Vincent Fabié, domiciled at 8
rue du Mont-Thabor, 75001 Paris, France.
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WS0101.28002506.1

PART B OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING
(i)
Listing:
Euronext Paris
(ii)
(a) Admission to trading:
Application has been made by the Issuer (or on its behalf) for the
Covered Bonds to be admitted to trading on Euronext Paris with
effect from the Issue Date; last day of trading expected to be 28
September 2038, unless their maturity is extended to the
Extended Final Maturity Date.
(b) Regulated Markets or

equivalent
markets
on

which, to the knowledge of

the Issuer, securities of the

same class of the Covered

Bonds to be admitted to

trading are already admitted

to trading:
Not Applicable
(iii)
Estimate of total expenses

related to admission to
trading (including the

French Financial Markets
Authority's (Autorité des

Marchés Financiers) fees):
18,200

2.
RATINGS
Ratings:
The Covered Bonds to be issued are expected to be rated:
S&P Global Ratings: AAA
Moody's Investors Service Ltd.: Aaa
Fitch Ratings: AAA
Each of S&P Global Ratings, Moody's Investors Service Ltd. and
Fitch Ratings is established in the European Union, registered
under Regulation (EU) No 1060/2009, as amended (the "CRA
Regulation") and included in the list of registered credit rating
agencies published by the European Securities and Markets
Authority
on
its
website
(www.esma.europa.eu/supervision/credit-rating-agencies/risk) in
accordance with CRA Regulation.
3.
SPECIFIC CONTROLLER
The specific controller (contrôleur spécifique) shall deliver to the Issuer (i) for each quarter a certificate relating to
the borrowing program for the relevant quarter and, (ii) in the event of an issue of Covered Bonds equaling or
exceeding Euro 500,000,000 or its equivalent in any other currency, a certificate relating to such issue.

For this issue, the specific controller has delivered a certificate relating to an issue of Covered Bonds that equals
or exceeds Euro 500,000,000 or its equivalent in any other currency.
7
WS0101.28002506.1

4.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for any fees payable to the Joint Lead Managers and the Co-Lead Managers in connection with the Issue of
the Covered Bonds, so far as the Issuer is aware, no person involved in the offer of the Covered Bonds has an
interest material to the issue. The Joint Lead Managers and the Co-Lead 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 and its affiliates in the ordinary course of business.

5.
FIXED RATE COVERED BONDS ONLY  YIELD
Indication of yield:
1.608 per cent. per annum for the Fixed Rate period.

The yield is calculated at the Issue Date on the basis of the Issue
Price for the period beginning on (and including) the Interest
Commencement Date and ending on (but excluding) the Final
Maturity Date. It is not an indication of future yield.
6.
HISTORIC INTEREST RATES - FLOATING RATE COVERED BONDS ONLY
Details of historic EURIBOR rates can be obtained from Reuters Page EURIBOR01.

7.
OPERATIONAL INFORMATION
ISIN:
FR0013368388
Common Code:
188660363
Depositaries:

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

(ii) Common Depositary for Euroclear Bank

and Clearstream Banking, société anonyme:
No

Any clearing system(s) other than Euroclear

Bank S.A./N.V. and Clearstream Banking,

société anonyme and the relevant

identification number(s):
Not Applicable
Delivery:
Delivery against payment
Names and addresses of additional Paying

Agent(s) (if any):
Not Applicable

8.
DISTRIBUTION
(i)
Method of distribution:
Syndicated
(ii)
If syndicated:

Names of Managers:
Joint Lead Managers

Bayerische Landesbank
Crédit Agricole Corporate and Investment Bank
Landesbank Baden-Württemberg
Natixis
The Toronto-Dominion Bank

Co-Lead Managers
8
WS0101.28002506.1

Bankhaus Lampe KG
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt
am Main

Stabilisation Manager:
Crédit Agricole Corporate and Investment Bank
(iii)
If non-syndicated, name of Dealer:
Not Applicable
(iv)
U.S. selling restrictions:
The Issuer is Category 2 for the purposes of Regulation S under
the United States Securities Act of 1933, as amended.
TEFRA Not Applicable

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WS0101.28002506.1