Obligation Crédit Agricole SA 1.85% ( FR001400CY36 ) en JPY

Crédit Agricole SA

100 % ⇌

France

FR001400CY36 ( en JPY )

1.85% par an ( paiement annuel )

30/09/2032

Prospectus brochure de l'obligation Crédit Agricole FR001400CY36 en JPY 1.85%, échéance 30/09/2032

100 000 000 JPY

3 000 000 000 JPY

30/09/2025 ( Dans 69 jours )

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 JPY, avec le code ISIN FR001400CY36, paye un coupon de 1.85% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 30/09/2032

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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 Notes, 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 Notes is
eligible counterparties and professional clients only, each as defined in Directive (EU) 2014/65 (as
amended, "MiFID II"); and (ii) all channels for distribution of the Notes to eligible counterparties
and professional clients 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.

UK MiFIR product governance / Professional investors and ECPs only target market Solely
for the purposes of the manufacturer's product approval process, the target market assessment in
respect of the Notes, 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 Notes 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 UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MiFIR"); and (ii) all channels for distribution of the Notes to eligible counterparties and
professional clients are appropriate. Any person subsequently offering, selling or recommending the
Notes (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 Notes (by either adopting or refining the manufacturer's
target market assessment) and determining appropriate distribution channels.

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Final Terms dated 28 September 2022

Crédit Agricole S.A.
Legal Entity Identifier (LEI): 969500TJ5KRTCJQWXH05

Euro 85,000,000,000
Euro Medium Term Note Programme
Series No: 643
Tranche No: 1
Issue of JPY 3,000,000,000 Subordinated Fixed Rate Resettable Notes due 30 September 2032
(the "Notes")
Issued by: Crédit Agricole S.A. (the "Issuer")

Lead Manager and Sole Bookrunner
Crédit Agricole CIB

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 the Dealer to publish a prospectus pursuant to Article 3
of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus
Regulation, in each case, in relation to such offer.
Neither the Issuer nor the Dealer has authorised, nor do they authorise, the making of any offer of
Notes in any other circumstances.
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 consumer (consument/consommateur) within the
meaning of the Belgian Code of Economic Law (Wetboek van economisch recht/Code de droit
économique), as amended, in Belgium.
The expression "Prospectus Regulation" means Regulation (EU) No 2017/1129, as amended.

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Part A Contractual Terms
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth
in "Terms and Conditions of the French Law Notes" in the base prospectus dated 8 April 2022 which
has received approval no. 22-090 from the Autorité des marchés financiers (the "AMF") on 8 April
2022, the first supplement to it dated 17 May 2022 which has received approval no. 22-158 from the
AMF on 17 May 2022, the second supplement to it dated 27 June 2022 which has received approval
no. 22-246 from the AMF on 27 June 2022 and the third supplement to it dated 17 August 2022 which
has received approval no. 22-353 from the AMF on 17 August 2022, which together constitute a base
prospectus for the purposes of the Prospectus Regulation (the "Base Prospectus"). This document
constitutes the Final Terms of the Notes described herein for the purposes of Article 8 of the
Prospectus Regulation 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 is available for viewing on the website of the
Issuer (https://www.credit-agricole.com/finance/finance/dette/emissions-marche/credit-agricole-
s.a.-emissions-marche), on the website of the AMF (www.amf-france.org) and copies may be
obtained from Crédit Agricole S.A., 12, Place des États-Unis, 92127 Montrouge Cedex, France.

1.
Issuer:
Crédit Agricole S.A.
2.

(i)
Series Number:
643

(ii)
Tranche Number:
1

(iii)
Date on which the Notes Not Applicable
become fungible:
3.

Specified Currency or Currencies:
Japanese Yen ("JPY")
4.

Aggregate Nominal Amount:

(i)
Series:
JPY 3,000,000,000

(ii)
Tranche:
JPY 3,000,000,000
5.

Issue Price:
100.00 per cent. of the Aggregate Nominal
Amount
6.

Specified Denomination:
JPY 100,000,000
7.

(i)
Issue Date:
30 September 2022

(ii)
Interest Commencement
30 September 2022
Date:
8.

Maturity Date:
30 September 2032
9.

Interest Basis:
1.85 per cent. Fixed Rate (Resettable)
(further particulars specified in paragraph 15
below)
10.

Redemption Basis:
Subject to any purchase and cancellation or
early redemption, the Notes will be redeemed on
the Maturity Date at 100.00 per cent. of their
nominal amount
11.

Change of Interest Basis:
Not Applicable
12.

Noteholder Put/Issuer Call:
Issuer Call
(further particulars specified in paragraph 20
below)

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13.

Status:
Subordinated Notes
14.

Dates of the corporate authorisations for Resolution of the Board of Directors of the
issuance of the Notes:
Issuer dated 9 February 2022 and the Final
Terms dated 28 September 2022 which
constitute the décision d'émission
Provisions Relating to Interest (if any) Payable
15.

Fixed Rate Note:
Applicable from (and including) the Issue Date
to (but excluding) the Maturity Date

(i)
Rate of Interest:
Resettable

(ii)
Interest Payment Dates:
30 September and 30 March in each year, from
(and including) 30 March 2023, up to (and
including) the Maturity Date, adjusted in
accordance with the Modified Following
Business Day Convention and the Business
Centre specified in paragraph 15(iii) below

(iii)
Business Centre(s):
Tokyo

(iv)
Fixed Coupon Amount:
Rate of Interest x Specified Denomination x
Day Count Fraction

(v)
Broken Amount:
Not Applicable

(vi)
Day Count Fraction:
30/360, not adjusted

(vii)
Determination Dates:
Not Applicable

(viii)
Resettable Notes:
Applicable

Initial Rate of Interest:
The Initial Rate of Interest from (and including)
the Issue Date to (but excluding) the First Reset
Date is 1.85 per cent. per annum payable semi-
annually in arrear (1.859 per cent. on an
annualised basis)

First Margin:
+ 1.635 per cent. per annum payable semi-
annually in arrear (1.643 per cent. on an
annualised basis)
For the purpose of calculating the First Reset
Rate of Interest only, the Reference Reset Rate
and the First Margin will be converted to
annualised rates. However, for the purpose of
calculating any interest amount due and payable
on the Notes from (and including) the First
Reset Date to (but excluding) the Maturity Date,
the applicable interest rate on the Notes will be
calculated using the Reference Reset Rate and
the First Margin on a semi-annual basis.

Subsequent Margin:
Not Applicable

First Reset Date:
30 September 2027

Second Reset Date:
Not Applicable

Subsequent Reset Date(s):
Not Applicable

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Relevant Screen Page:
Bloomberg "screen GDCO 44079 11 1"

Reset Reference Rate:
Mid-Swap Rate

Reference Government Bond: Not Applicable

Reference Government Bond Not Applicable
Rate:

Reference Government Bond Not Applicable
Dealers:

Sterling Reference Bond Rate Not Applicable
(only if Reset Reference Rate
is Sterling Reference Bond):

CMT Rate Maturity:
Not Applicable

Mid-Swap Maturity:
Five (5) years

Reset Determination Date:
Two (2) Business Days preceding the First
Reset Date

Relevant Time:
10:00 am Tokyo time

First Reset Period Fallback:
Not Applicable

Party
responsible for

calculating the Reset

Reference Rate and related
determination in respect of
the Notes and Interest
Amount(s) (if not the Not Applicable
Calculation Agent):

16.

Floating Rate Note:
Not Applicable
17.

Zero Coupon Note:
Not Applicable
18.

CMS Linked Note:
Not Applicable
19.

Inflation Linked Notes:
Not Applicable
Provisions Relating to Redemption
20.

Redemption at the Option of the Issuer
Applicable

(Issuer Call):

(i)
Optional Redemption Date(s):
30 September 2027

(ii)
Optional Redemption

Amount(s) of each Note and method, if

any, of calculation of such amount(s):
JPY 100,000,000 per Note of JPY 100,000,000
Specified Denomination

(iii)
If redeemable in part:

a) Minimum Redemption
Not Applicable
Amount:

b) Maximum Redemption
Not Applicable
Amount:

(iv)
Notice Period:
As per Conditions
21.

Clean-up Redemption Option:
Not Applicable

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22.

Redemption at the Option of
Not Applicable

Noteholders (Noteholder Put):
23.

(i) MREL/TLAC Disqualification
Applicable
Event Call Option:

(ii) Early Redemption Amount:
Final Redemption Amount
24.

Final Redemption Amount of each
Subject to any purchase and cancellation or
Note:
early redemption, the Notes will be redeemed on
the Maturity Date at 100.00 per cent. of their
outstanding principal amount
25.

Early Redemption Amount of each
JPY 100,000,000 per Note of JPY 100,000,000
Note:
Specified Denomination
26.
Make-Whole Redemption Amount:
Not Applicable
General Provisions Applicable to the Notes
27.
(i)
Form of Notes (Bearer
Dematerialised Notes

Notes):

(ii)
Form of Dematerialised
Bearer dematerialised form (au porteur)
Notes:

(iii)
Registration Agent:
Not Applicable

(iv)
Calculation Agent(s) (if not
Not Applicable
the Fiscal Agent):

(v)
Temporary Global
Not Applicable

Certificate:
28.

Exclusion of the possibility to request Not Applicable
identification of a Noteholder as
Provided by Condition 1(a):
29.

Financial Center(s):
Tokyo
30.

Talons for future Coupons or Receipts Not Applicable
to be attached to Definitive Materialised
Bearer Notes (and dates on which such
Talons mature):
31.

Details relating to Instalment Notes:
Not Applicable

amount of each Instalment, date on
which each payment is to be made:
32.

Applicable tax regime:
Condition 9(a) applies
33.

Representation of holders of French
Contractual Masse shall apply
Law Notes Masse:
Primary Appointed Representative: as per the
Conditions F&S Financial Services, 13 rue
Oudinot, 75007 Paris, France

Alternate Appointed Representative: as per the
Conditions Aether Financial Services, 36 rue
de Monceau, 75008 Paris, France

DocuSign Envelope ID: DBBD4BFA-AE2C-4CB3-A825-1E6F27E9AA9C

The Primary Appointed Representative or, as
the case may be, the Alternate Appointed
Representative, will receive a remuneration of
EUR 300 per year (excluding taxes), payable as
per the Conditions.
Responsibility
I hereby accept responsibility for the information contained in these Final Terms.
Signed on behalf of the Issuer on 28 September 2022

Duly represented by: Laurent Côte

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Part B Other Information
1.
LISTING AND ADMISSION TO TRADING
(i)
Listing:
Application has been made for the Notes to be
admitted to trading on Euronext Paris with effect
from 30 September 2022
(ii)
Estimate of total expenses
EUR 6,800 (without tax)

related to admission to trading:
2.
RATINGS

The Notes to be issued have been rated:
Standard & Poor's: BBB+
Moody's: Baa1
Fitch: A-

Standard & Poor's, Moody's and Fitch are
established in the European Union and are registered
under Regulation (EC) No 1060/2009 (the "CRA
Regulation"). As such, Standard & Poor's, Moody's
and Fitch are included in the list of credit rating
agencies published by the European Securities and
Market Authority on its website in accordance with
the CRA Regulation
(www.esma.europa.eu/supervision/credit-rating-
agencies/risk).

As defined by Standard & Poor's, a "BBB" exhibits
adequate protection parameters. However, adverse
economic conditions or changing circumstances are
more likely to lead to a weakened capacity of the
obligor to meet its financial commitment on the
obligation (compared to a higher rating). The
addition of a plus (+) sign shows relative standing
within that rating categories.
As defined by Moody's, obligations rated "Baa" are
judged to have medium-grade credit quality and thus
subject to moderate credit risk. The modifier 1
indicates that the obligations rank in the higher end
of that generic assessment category.
As defined by Fitch, an "A" rating denotes
expectations of low default risk. The capacity for
payment of financial commitments is considered
strong. This capacity may, nevertheless, be more
vulnerable to adverse business or economic
conditions than is the case for higher ratings. The
modifier (-) is appended to denote relative status
within this category.
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for the fees payable to the Manager, so far as the Issuer is aware, no person involved in the issue of
the Notes has an interest material to the offer. The Manager and its affiliates have engaged, and may in

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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.
4.
REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS
(i)
Reasons for the offer:
The net proceeds will be used for the Issuer's general
funding requirements
(ii)
Estimated net proceeds:
JPY 2,997,000,000
5.
YIELD
Indication of yield:
1.859 per cent. per annum until the First Reset Date

The yield in respect of the Notes is calculated on the
basis of the Issue Price using the following formula:

C
P=
(1-(1+r)-n) + A(1+r)-n
r

where:
P
is the Issue Price of the Notes;
C
is the Interest Amount;
A
is the outstanding principal amount of Notes
due on redemption;
n
is time to 30 September 2027 in years; and
r
is the yield.
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.
6.
OPERATIONAL INFORMATION
(i)
ISIN:
FR001400CY36
(ii) Common Code:
253937718
(iii) Any clearing system(s) other than Not Applicable
Euroclear Bank SA/NV and Clearstream
Banking Société Anonyme and the
relevant identification number(s):
(iv) Delivery:
Delivery against payment
(v) Names and addresses of Paying Agent(s) CACEIS Corporate Trust
(including any additional Paying 14, rue Rouget de Lisle
Agent(s)):
92682 Issy-Les-Moulineaux Cedex 9
France

7.
DISTRIBUTION
1.
Method of distribution:
Non-syndicated
2.
If syndicated,

(i) Names of Managers
Not Applicable
(specifying Lead Manager):

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(ii) Date of Subscription
Not Applicable
Agreement (if any):

(iii) Stabilisation Manager(s) (if
Not Applicable
any):
3.

If non-syndicated, name of Dealer: Crédit Agricole Corporate and Investment
Bank
4.
Intermediary(ies) in secondary
Not Applicable
trading
5.

U.S. Selling Restrictions
Reg. S Compliance Category 2; TEFRA not
applicable
6.

Prohibition of Sales to EEA Retail Not Applicable
Investors
under the PRIIPs
Regulation:
7.
Prohibition of Sales to UK Retail
Not Applicable
Investors under the UK PRIIPs

Regulation:

8.

Additional Selling Restrictions:
Not Applicable
9.

Non-Exempt Offer:
Not Applicable
10.

Specific Consent:
Not Applicable
11.

General Consent:
Not Applicable