Obligation Crédit Agricole SA 0.375% ( FR0014007VS7 ) en EUR

Crédit Agricole SA

100 % ⇌

France

FR0014007VS7 ( en EUR )

0.375% par an ( paiement annuel )

01/02/2033 - Obligation échue

Prospectus brochure de l'obligation Crédit Agricole FR0014007VS7 en EUR 0.375%, échue

100 000 EUR

1 250 000 000 EUR

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 FR0014007VS7 émise par le Crédit Agricole en France, d'une valeur nominale de 1 250 000 000 EUR, avec un coupon de 0,375 % payable annuellement, et une maturité initiale au 01/02/2033, a été intégralement remboursée à son échéance.

MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLY TARGET
MARKET Solely for the purposes of each EEA domiciled 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.

UK MIFIR PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLY TARGET
MARKET Solely for the purposes of the manufacturers' 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 (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 Covered
Bonds is only 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 domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR"); 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
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 Covered Bonds (by either adopting or refining
the manufacturer's target market assessment) and determining appropriate distribution channels

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, as
amended, 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, 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 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.

PROHIBITION OF SALES TO UK 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 United Kingdom ("UK"). For these purposes, a retail investor means a person who is one (or
more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of
domestic law by virtue of the European Union (Withdrawal) Act 2018 ("EUWA"); (ii) a customer within the
meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement Directive
(EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article
2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a
qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue
of the EUWA. Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms
part of domestic law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling the Covered
Bonds or otherwise making them available to retail investors in the UK has been prepared and therefore offering
or selling the Covered Bonds or otherwise making them available to any retail investor in the UK may be unlawful
under the UK PRIIPs Regulation.

WS0101.33817885.1WS0101.33833317.1

Final Terms dated 25 January 2022

CRÉDIT AGRICOLE HOME LOAN SFH
Legal Entity Identifier (LEI): 969500C9913Z7PKUGB44

Issue of 1,250,000,000 0.375 per cent. Fixed Rate Covered Bonds due 1st February 2033
extendible as Floating Rate Covered Bonds up to 1st February 2034
(the "Covered Bonds")
under the 40,000,000,000 Covered Bond Program
Issue Price: 98.781 per cent.

Joint Lead Managers

CRÉDIT AGRICOLE CIB
DANSKE BANK
DEUTSCHE BANK AKTIENGESELLSCHAFT
ERSTE GROUP
ING BANK N.V.
SANTANDER CORPORATE & INVESTMENT BANKING
SOCIÉTÉ GÉNÉRALE CORPORATE & INVESTMENT BANKING

Co-Lead Managers

BANKINTER S.A.
DESJARDINS CAPITAL MARKETS
HAUCK AUFHÄUSER LAMPE PRIVATBANK AG
HELABA
ICBC
OP CORPORATE BANK PLC
2
WS0101.33833317.1

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 17 February 2021 which received approval no. 21-041 from
the Autorité des marchés financiers (the "AMF") on 17 February 2021, as supplemented by a first supplement to
the base prospectus dated 2 June 2021 which received approval no. 21-198 from the AMF on 2 June 2021 and a
second supplement to the base prospectus dated 29 October 2021 which received approval no. 21-467 from the
AMF on 29 October 2021, which together constitute a base prospectus (the "Base Prospectus) for the purposes of
the Regulation (EU) 2017/1129 (the "Prospectus Regulation").
This document constitutes the final terms of the Covered Bonds (the "Final Terms") described herein for the
purposes of the Prospectus Regulation and must be read in conjunction with such Base Prospectus in order to
obtain all the relevant information on the Issuer and the Covered Bonds. Full information on the Issuer and the
offer of 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:
78

(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:
1,250,000,000

(ii)
Tranche:
1,250,000,000
5.
Issue Price:
98.781 per cent. of the Aggregate Nominal
Amount
6.
Specified Denomination:
100,000
7.
(i)
Issue Date:
27 January 2022

(ii)
Interest Commencement Date:
Issue Date
8.
Final Maturity Date:
1st February 2033
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:
1st February 2034
The Final Maturity Date will be extended
automatically to the Extended Final
Maturity Date if the Final Redemption
Amount is not paid by the Issuer on the Final
3
WS0101.33833317.1

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,
as specified below, 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:
0.375 per cent. per annum Fixed Rate for the
period from and including the Interest
Commencement Date to but excluding the
Final Maturity Date (further particulars
specified in paragraph 15 below).

EURIBOR 1 month plus 0.05 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 on the Final Maturity Date or
on any Specified Interest Payment Date
occurring thereafter up to and including the
Extended Final Maturity Date as the case
may be at 100 per cent. of their nominal
amount.
12.
Change of Interest Basis:
Applicable Fixed/Floating Rate Covered
Bonds (further particulars specified below
in "Fixed/Floating Rate Covered Bonds
Provisions"). 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:
16 December 2021
PROVISIONS RELATING TO INTEREST PAYABLE
15.
Fixed Rate Covered Bond Provisions:
Applicable until the Final Maturity Date

(i)
Rate of Interest:
0.375 per cent. per annum payable annually
in arrear on each Interest Payment Date
4
WS0101.33833317.1

(ii)
Interest Payment Dates:
1st February in each year, from and including
1st February 2023 up to and including the
Final Maturity Date.

(iii)
Fixed Coupon Amount:
375
per
100,000
in
Specified
Denomination, except for the Broken
Amount.

(iv)
Broken Amount:
There will be a long first coupon for the
period from and including the Issue Date to
but excluding 1st February 2023, which
amounts to 380.14 per 100,000 in
Specified Denomination payable on the
Interest Payment Date falling on 1st February
2023

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

(vi)
Business Centre(s):
TARGET 2

(vii)
Determination Dates:
1st February in each year
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:
1st day of each month from (and including)
1st March 2033 to (and including) 1st
February 2034, subject to adjustment in
accordance with the Business Day
Convention set out in (v) below

(iii)
First Interest Payment Date:
1st March 2033

(iv)
Interest Period Date:
Specified Interest Payment Date

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

(vi)
Business Centre(s):
TARGET 2

(vii)
Manner in which the Rate(s) of Interest
is/are to be determined:
Screen Rate Determination
5
WS0101.33833317.1

(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
Not Applicable
"Reference Banks"):

Relevant Financial Centre:
Euro Zone

Representative Amount:
Not Applicable

Effective Date:
Not Applicable

Specified Duration:
1 month

(x)
ISDA Determination:
Not Applicable

(xi)
Linear Interpolation:
Not Applicable

(xii)
Margin:
+0.05 per cent. per annum

(xiii)
Minimum Rate of Interest:
Zero (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: Applicable

(i)
Issuer Change of Interest Basis:
Not Applicable

(ii)
Automatic Change of Interest Basis:
Applicable

(iii)
Rate of Interest applicable to the
Interest Periods preceding the Switch
Date (excluded):
Determined in accordance with Condition
6(b), as though the Covered Bonds were Fixed
Rate Covered Bonds with further variables set
out in item 15 of these Final Terms.

(iv)
Rate of Interest applicable to the
Interest Periods following the Switch
Date (included):
Determined in accordance with Condition
6(c), as though the Covered Bonds were
Floating Rate Covered Bonds with further
variables set out in item 16 of these Final
Terms.
6
WS0101.33833317.1

(v)
Switch Date:
Final Maturity Date

(vi)
Minimum notice period required for
notice from the Issuer:
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 Specified
Denomination

22.
Early Redemption Amount of each Covered
Bond:

Early Redemption Amount(s) of each Covered
Bond payable on redemption for taxation reasons,
illegality or on event of default:
100,000 per Covered Bond of Specified
Denomination (together with interest accrued to
the date fixed for redemption)
GENERAL PROVISIONS APPLICABLE TO THE COVERED BONDS
23.
Form of Covered Bonds:
Dematerialised Covered Bonds

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

(ii)
Registration Agent:
Not Applicable

(iii)
Temporary Global Certificate:
Not Applicable

24.
Financial Centre(s):
TARGET 2
25.
Talons for future Coupons or Receipts to

be attached to Definitive Materialised
Covered Bonds (and dates on which such
Not Applicable
Talons mature):
26.
Details relating to Instalment Covered
Not Applicable
Bonds:
27.
Representation of Bondholders - Masse
Contractual Masse shall apply
(Condition 12):
Name and address of the Representative: F&S
Financial Services, Vincent Fabié, domiciled at
8 rue du Mont-Thabor, 75001 Paris, France.
Name and address of the alternate
Representative: Aether Financial Services, 36
rue de Monceau, 75008 Paris, France.
The Representative will receive a remuneration
of 400 per year.
7
WS0101.33833317.1

28.
Prohibition of Sales to EEA Retail
Applicable
Investors:
29.
Prohibition of Sales to UK Retail
Applicable
Investors:

THIRD PARTY INFORMATION
Not Applicable
Signed on behalf of CRÉDIT AGRICOLE HOME LOAN SFH:
By:
............................................
Duly authorised
8
WS0101.33833317.1

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 1st February 2033, 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:
9,900

2.
RATINGS
Ratings:
The Covered Bonds to be issued are expected to be rated:
S&P Global Ratings Europe Limited: AAA
Moody's France SAS: Aaa
Fitch Ratings Ireland Limited: AAA
Each of S&P Global Ratings Europe Limited, Moody's France
SAS and Fitch Ratings Ireland Limited 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.

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, 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.
9
WS0101.33833317.1

5.
REASONS FOR THE OFFER
(i)
Estimated
net

proceeds:
1,230,700,000
6.
FIXED RATE COVERED BONDS ONLY  YIELD
Indication of yield:
0.489 per cent. per annum.

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.
7.
FLOATING RATE COVERED BONDS ONLY  HISTORIC INTEREST RATES
(i)
Historic interest rates:
Details of historic EURIBOR rates can be obtained from
Reuters Page EURIBOR01 (or any successor)
(ii)
Benchmarks:
Amounts payable under the Covered Bonds will be calculated
by reference to EURIBOR which is provided by EMMI. As at
the date hereof, EMMI appears on the register of administrators
and benchmarks established and maintained by the European
Securities and Markets Authority pursuant to Article 36 of the
Benchmark Regulation (Regulation (EU) 2016/1011), as
amended (the "Benchmark Regulation").

8.
OPERATIONAL INFORMATION
(i) ISIN:
FR0014007VS7
(ii) Temporary ISIN:
Not Applicable
(iii) Common Code:
243657229
(iv) Depositaries:

- Euroclear France to act as

Central Depositary:
Yes

- Common Depositary for

Euroclear Bank and

Clearstream Banking, société
anonyme:
No

(v) Relevant clearing

system(s) other than

Euroclear Bank SA/NV

and Clearstream

Banking, société
anonyme and the

relevant identification
number(s):
Not Applicable

(vi) Delivery:
Delivery against payment
(vii) Names and addresses of
additional Paying

Agent(s) (if any):
Not Applicable
10
WS0101.33833317.1