Obligation BNP Paribas SA 1.125% ( FR0013508710 ) en EUR

BNP Paribas SA

100 % ▲

France

FR0013508710 ( en EUR )

1.125% par an ( paiement annuel )

16/04/2029

Prospectus brochure de l'obligation BNP Paribas FR0013508710 en EUR 1.125%, échéance 16/04/2029

100 000 EUR

1 250 000 000 EUR

F1233MYF3

17/04/2026 ( Dans 329 jours )

BNP Paribas est une banque internationale française, l'une des plus grandes d'Europe, offrant une large gamme de services financiers aux particuliers, entreprises et institutions.

L'Obligation émise par BNP Paribas SA ( France ) , en EUR, avec le code ISIN FR0013508710, paye un coupon de 1.125% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 16/04/2029

FINAL TERMS
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 (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 (as amended, "MiFID II"); or (ii) a customer
within the meaning of Directive 2002/92/EC (as amended, the "Insurance Mediation 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. 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 UK 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 UK may be unlawful under the PRIIPs
Regulation.
MiFID II product governance / target market assessment 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 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 and
professional clients, each as defined in MiFID II; and (ii) all channels for distribution of the Notes 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.
Final Terms dated 15 April 2020
BNP PARIBAS
(incorporated in France)
(the Issuer)
Legal entity identifier (LEI): R0MUWSFPU8MPRO8K5P83
Issue of EUR 1,250,000,000 Fixed to Floating Rate Senior Non Preferred Notes due April 2029
ISIN Code: FR0013508710
under the 90,000,000,000
Euro Medium Term Note Programme
(the Programme)

Any person making or intending to make an offer of the Notes may only do so in circumstances in which
no obligation arises for the Issuer or any Dealer to publish a prospectus pursuant to Article 3 of the
Prospectus Directive or to supplement a prospectus pursuant to Article 16 of the Prospectus Directive,
in each case, in relation to such offer.

1

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 under the section entitled "Terms and Conditions of the French Law Notes" in
the Base Prospectus dated 5 July 2019 which received visa n° 19-328 from the Autorité des marchés
financiers ("AMF") on 5 July 2019 and any Supplement(s) thereto approved and published on or before
the date of these Final Terms (copies of which are available as described below), which together
constitute a base prospectus for the purposes of the Directive 2003/71/EC, as amended or superseded
(the "Prospectus Directive") (the "Base Prospectus"). 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 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, these Final Terms and any Supplement(s) to the Base Prospectus will also be available on
the AMF website (www.amf-france.org) and these Final Terms will be available for viewing on the
website of Euronext Paris. A copy of these Final Terms and the Base Prospectus and any
Supplement(s) to the Base Prospectus will be sent free of charge by the Issuer to any investor
requesting such documents.

1.
Issuer:
BNP Paribas
2.
(i)
Series Number:
19281

Tranche Number:
1
3.
Specified Currency:
EUR
4.
Aggregate Nominal Amount:

Series:
EUR 1,250,000,000

Tranche:
EUR 1,250,000,000
5.
Issue Price of Tranche:
99.114 per cent. of the Aggregate Nominal Amount
6.
Minimum Trading Size:
Not applicable
7.
(i)
Specified Denomination:
EUR 100,000

Calculation Amount:
EUR 100,000
8.
(i)
Issue Date:
17 April 2020

Interest Commencement
Issue Date
Date:
9.
(i)
Maturity Date:
17 April 2029
(ii)
Business Day Convention Not applicable
for Maturity Date:
10.
Form of Notes:
Bearer
11.
Interest Basis:
1.125 per cent. per annum Fixed Rate from and
including the Interest Commencement Date to but
excluding the Optional Redemption Date (as defined
below).
3 month EURIBOR + 1.350 per cent. Floating Rate
from and including the Optional Redemption Date to
but excluding the Maturity Date.
(further particulars specified below)
12.
Coupon Switch:
Not applicable
13.
Redemption/Payment Basis:
Redemption at par

2

14.
Change of Interest Basis or
The initial Interest Basis shall be Fixed Rate until the
Redemption/Payment Basis:
Optional Redemption Date.
The Interest Basis subsequent to the Optional
Redemption Date shall be Floating Rate.
(further particulars specified below)
15.
Put/Call Options:
Issuer Call (further particulars specified below)
16.
Exchange Rate:
Not applicable
17.
Status of the Notes:
Senior Non Preferred Notes
MREL/TLAC Criteria Event: Not applicable
18.
Knock-in Event:
Not applicable
19.
Knock-out Event:
Not applicable
20.
Method of distribution:
Syndicated
21.
Hybrid Notes:
Not applicable
22.
Tax Gross-Up:
Condition 6(e) (No Gross-Up) of the Terms and
Conditions of the French Law Notes not applicable
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
23.
Interest:
Applicable

Interest Period(s):
As per Conditions

Interest Period End
17 April in each year from and including 17 April 2021
Date(s):
to and including the Optional Redemption Date, then
17 July 2028, 17 October 2028, 17 January 2029 and
17 April 2029

Business Day Convention
Not applicable (with respect to the Fixed Rate Interest
for Interest Period End
Period)
Date(s):
Modified Following (with respect to the Floating Rate
Interest Period)

Interest Payment Date(s):
17 April in each year from and including 17 April 2021
to and including the Optional Redemption Date, then
17 July 2028, 17 October 2028, 17 January 2029 and
17 April 2029

Business Day Convention
Following (with respect to the Fixed Rate Interest
for Interest Payment
Period)
Date(s):
Modified Following (with respect to the Floating Rate
Interest Period)

Party responsible for
Calculation Agent
calculating the Rate(s) of
Interest and Interest
Amount(s):

Margin(s):
1.350 per cent. applicable to the Floating Rate in
respect of the Floating Rate Interest Period only

Minimum Interest Rate:
As per Conditions

Maximum Interest Rate:
Not applicable

3

Day Count Fraction:
Actual/Actual ICMA (applicable to the Fixed Rate
Interest Period)
Actual/360 (applicable to the Floating Rate Interest
Period)

Determination Dates:
17 April in each year from and including 17 April 2020
for the Fixed Rate Interest Period

Accrual to Redemption:
Applicable

Rate of Interest:
Fixed Rate to Floating Rate

Coupon Rate:
Not applicable
24.
Fixed Rate Provisions:
Applicable
from
and
including
the
Interest
Commencement Date to but excluding the Optional
Redemption Date (the Fixed Rate Interest Period)

Fixed Rate of Interest:
1.125 per cent. per annum payable annually in arrear
on each Interest Payment Date during the Fixed Rate
Interest Period

Fixed Coupon Amount(s):
EUR 1,125 per Calculation Amount

Broken Amount(s):
Not applicable

Resettable Notes:
Not applicable
25.
Floating Rate Provisions:
Applicable
from
and
including
the
Optional
Redemption Date to but excluding the Maturity Date
(the Floating Rate Interest Period)
(i)
Manner in which the Rate
Screen Rate Determination
of Interest and Interest
Amount is to be
determined:
(ii)
Linear Interpolation:
Not applicable
26.
Screen Rate Determination:
Applicable
(i)
Reference Rate:
3 month EURIBOR
(ii)
Interest
Determination Second TARGET2 day prior to the start of each
Date(s):
Floating Rate Interest Period
(iii)
Specified Time:
11:00 am, Brussels time
(iv)
Relevant Screen Page
Bloomberg page "EUR0003M"
27.
ISDA Determination:
Not applicable
28.
FBF Determination:
Not applicable
29.
Zero Coupon Provisions:
Not applicable
30.
Index Linked Interest Provisions:
Not applicable
31.
Share Linked/ETI Share Linked
Not applicable
Interest Provisions:
32.
Inflation Linked Interest Provisions:
Not applicable
33.
Commodity Linked Interest
Not applicable
Provisions:
34.
Fund Linked Interest Provisions:
Not applicable
35.
ETI Linked Interest Provisions:
Not applicable

4

36.
Foreign Exchange (FX) Rate
Not applicable
Linked Interest Provisions:
37.
Underlying Interest Rate Linked
Not applicable
Interest Provisions:
38.
Additional Business Centre(s)
TARGET2
(Condition 3(e) of the Terms and
Conditions of the English Law
Notes or Condition 3(e) of the
Terms and Conditions of the
French Law Notes, as the case
may be):
PROVISIONS RELATING TO REDEMPTION
39.
Final Redemption:
Calculation Amount x 100 per cent.
40.
Final Payout:
Not applicable
41.
Automatic Early Redemption:
Not applicable
42.
Issuer Call Option:
Applicable
(i)
Optional Redemption
The Interest Payment Date falling on 17 April 2028
Date(s):
(ii)
Optional Redemption
Not applicable
Valuation Date(s):
(iii)
Optional Redemption
Calculation Amount x 100 per cent.
Amount(s):
(iv)
If redeemable in part:

(a) Minimum Redemption
Not applicable
Amount:
(b) Higher Redemption
Not applicable
Amount:
(v)
Notice period:
Minimum notice period: 30 calendar days

Maximum notice period: 45 calendar days
43.
Noteholder Put Option:
Not applicable
44.
Aggregation:
Not applicable
45.
Index Linked Redemption Amount:
Not applicable
46.
Share Linked/ETI Share Linked
Not applicable
Redemption Amount:
47.
Inflation Linked Redemption
Not applicable
Amount:
48.
Commodity Linked Redemption
Not applicable
Amount:
49.
Fund Linked Redemption Amount:
Not applicable
50.
Credit Linked Notes:
Not applicable
51.
ETI Linked Redemption Amount:
Not applicable
52.
Foreign Exchange (FX) Rate
Not applicable
Linked Redemption Amount:

5

53.
Underlying Interest Rate Linked
Not applicable
Redemption Amount:

54.
Events of Default for Senior Not applicable
Preferred Notes:

55.
Administrator/Benchmark Event:
Not applicable
56.
Early Redemption Amount(s):
Article 45b2(b) BRRD: Not applicable
Final Redemption Amount
57.
Provisions applicable to Physical
Not applicable
Delivery:
58.
Variation of Settlement:

Issuer's option to vary
The Issuer does not have the option to vary settlement
settlement:
in respect of the Notes.

Variation of Settlement of
Not applicable
Physical Delivery Notes:
59.
CNY Payment Disruption Event:
Not applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
60.
Form of Notes:
Bearer Notes:
New Global Note:
No

Dematerialised Notes

Bearer dematerialised form (au porteur).
61.
Financial Centre(s) or other special TARGET2
provisions relating to Payment Days
for the purposes of Condition 4(a):
62.
Talons for future Coupons or
No
Receipts to be attached to
definitive Notes (and dates on
which such Talons mature):
63.
Details relating to Partly Paid
Not applicable
Notes: amount of each payment
comprising the Issue Price and
date on which each payment is to
be made and, if different from
those specified in the Temporary
Bearer Global Note or Permanent
Bearer Global Note, consequences
of failure to pay, including any right
of the Issuer to forfeit the Notes
and interest due on late payment:
64.
Details relating to Notes
Not applicable
redeemable in instalments: amount

of each instalment, date on which
each payment is to be made:
65.
Redenomination, renominalisation Not applicable
and reconventioning provisions:
66.
Masse (Condition 12 of the Terms Contractual representation of Noteholders/No Masse
and Conditions of the French Law shall apply.
Notes):

6

67.
Governing law:
French law
68.
Calculation Agent:
BNP Paribas Securities Services

DISTRIBUTION

69.
(i)
If syndicated, names of
Lead Manager
Managers (specifying Lead
BNP Paribas
Manager):
Joint Lead Managers
Banco Bilbao Vizcaya Argentaria, S.A.
Banco Santander, S.A.
Danske Bank A/S
ING Bank N.V.
Co-Lead Managers
Banca Akros S.p.A. Gruppo Banco BPM
Commerzbank Aktiengesellschaft
KBC Bank NV
OP Corporate Bank plc
Scotiabank Europe plc

Stabilisation Manager (if
BNP Paribas
any):

If non-syndicated, name of
Not applicable
relevant Dealer:
70.
U.S. Selling Restrictions:
Reg. S Compliance Category 2; TEFRA Not
applicable
71.
Non exempt Offer:
Not applicable
72.
Prohibition of Sales to EEA Retail Applicable
Investors:
73.
United States Tax Considerations
The Notes are not Specified Securities for the
purpose of Section 871(m) of the U.S. Internal
Revenue Code of 1986.

RESPONSIBILITY
The Issuer accepts responsibility for the information contained in these Final Terms.
Signed on behalf of the Issuer:

By:
Duly authorised

7

PART B OTHER INFORMATION

1.
Listing and Admission to trading

(i)
Listing and admission to trading:
Application will be made by the Issuer (or on its
behalf) for the Notes to be admitted to trading
on Euronext Paris with effect on or from the
Issue Date
(ii)
Estimate of total expenses
EUR 6,950
related to admission to trading:
2.
Ratings

Ratings:
The Notes to be issued are expected to be
rated:
- Baa1 by Moody's Investors Service Ltd.
("Moody's"),
- A- by S&P Global Ratings Europe Limited
("S&P")
- A+ by Fitch France S.A.S. ("Fitch") and
- A (High) by DBRS Ratings Limited ("DBRS").

Moody's and DBRS are established in the
United Kingdom. S&P and Fitch are established
in the European Union. Each of Moody's, S&P,
Fitch and DBRS is registered under Regulation
(EC) No. 1060/2009 (as amended).
3.
Interests of Natural and Legal Persons Involved in the Issue
Save for the fees payable to the Managers so far as the Issuer is aware, no person involved
in the offer of the Notes has an interest material to the offer.
4.
Fixed Rate Notes only  Yield

Indication of yield:
1.242 per cent. per annum up to the Optional
Redemption Date

The yield is calculated at the Issue Date on the
basis of the Issue Price. It is not an indication of
future yield
5.
Floating Rate Notes only Historic Interest Rates
Details of historic 3 month EURIBOR rates can be obtained from Bloomberg.
6.
Operational Information

(i)
ISIN:
FR0013508710
(ii)
Common Code:
215899934
(iii)
Any clearing system(s) other than
Not applicable
Euroclear France, Euroclear and
Clearstream, Luxembourg
approved by the Issuer and the
Principal Paying Agent and the
relevant identification number(s):
(iv)
Delivery:
Delivery against payment
(v)
Additional Paying Agent(s) (if any):
Not applicable

8

(vi)
Intended to be held in a manner
No. Whilst the designation is specified as
which would allow Eurosystem
"no" at the date of these Final Terms, should
eligibility:
the Eurosystem eligibility criteria be amended
in the future such that the Notes are capable
of meeting them the Notes may then be
deposited with one of the ICSDs as common
safe-keeper. Note that this does not
necessarily mean that the Notes will then be
recognised
as
eligible
collateral
for
Eurosystem monetary policy and intra day
credit operations by the Eurosystem at any
time during their life. Such recognition will
depend upon the ECB being satisfied that
Eurosystem eligibility criteria have been met.
(vii)
Name and address of Registration
Not applicable
Agent:
7.
EU Benchmarks Regulation
EU Benchmarks Regulation: Article Applicable: Amounts payable under the Notes will,
29(2) statement on benchmarks:
from and including the Optional Redemption Date to
but excluding the Maturity Date, be calculated by
reference to 3 month EURIBOR, which is provided
by the European money market institute ("EMMI").
As at the date of these Final Terms, EMMI is
included in the register of Administrators and
Benchmarks established and maintained by the
European Securities and Markets Authority
pursuant to article 36 of the Benchmarks Regulation
(Regulation (EU) 2016/1011).

9