Obligation Crédit Agricole SA 2.875% ( FR001400E1P5 ) en EUR

Crédit Agricole SA

100 % ⇌

France

FR001400E1P5 ( en EUR )

2.875% par an ( paiement annuel )

23/06/2028

Prospectus brochure de l'obligation Crédit Agricole FR001400E1P5 en EUR 2.875%, échéance 23/06/2028

100 000 EUR

1 000 000 000 EUR

22/06/2026 ( Dans 355 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.

Le Crédit Agricole a émis une obligation (FR001400E1P5) d'un montant total de 1 000 000 000 EUR, en France, au prix actuel de 100%, offrant un taux d'intérêt de 2,875% avec une maturité fixée au 23 juin 2028, payable annuellement, et un montant minimum d'achat de 100 000 EUR.

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.

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.

Final Terms dated 21 November 2022

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

Issue of 1,000,000,000 2.875 per cent. Fixed Rate Covered Bonds due 23 June 2028
extendible as Floating Rate Covered Bonds up to 23 June 2029
(the "Covered Bonds")
under the 40,000,000,000 Covered Bond Program
Issue Price: 99.812 per cent.

Joint Lead Managers

CRÉDIT AGRICOLE CIB
DEUTSCHE BANK
RAIFFEISEN BANK INTERNATIONAL AG
SKANDINAVISKA ENSKILDA BANKEN AB

Co-Lead Managers

HAUCK AUFHÄUSER LAMPE
LA BANQUE POSTALE
SVENSKA HANDELSBANKEN AB
2

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 16 February 2022 which received approval no. 22-036 from
the Autorité des marchés financiers (the "AMF") on 16 February 2022 as supplemented by a first supplement to
the base prospectus dated on 9 May 2022 which received approval no. 22-0139 from the AMF, by a second
supplement to the base prospectus dated on 18 August 2022 which received approval no. 22-0354 from the AMF
and by a third supplement to the base prospectus dated on 7 October 2022 which received approval no. 22-413
from the AMF, which together constitute a base prospectus (the "Base Prospectus) for the purposes of the
Regulation (EU) 2017/1129, as amended (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 where copies may be obtained.
1.
Issuer:
Crédit Agricole Home Loan SFH
2.
(i)
Series Number:
82

(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:
99.812 per cent. of the Aggregate Nominal
Amount
6.
Specified Denomination:
100,000
7.
(i)
Issue Date:
23 November 2022

(ii)
Interest Commencement Date:
Issue Date
8.
Final Maturity Date:
23 June 2028
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:
23 June 2029

The Final Maturity Date will be extended
automatically to the Extended Final

Maturity Date upon the occurrence of any of
the Maturity Extension Trigger Event(s) (as
3

specified in paragraph 9 bis below). In such
case, the payment of the 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.

9 bis.
Maturity Extension Trigger Events:
The Maturity Extension Trigger Events, as
set out in Article R. 513-8-1 of the French
Monetary and Financial Code, are the
following:
- non-payment of principal on the initially
set maturity date by the Issuer, or by Crédit
Agricole S.A.; and

- the Issuer or Crédit Agricole S.A. is subject
to safeguard, reorganisation or liquidation
proceedings (sauvegarde, redressement ou
liquidation judiciaires) or of resolution
proceedings opened in accordance with
Article L. 613-49 of the French Monetary
and Financial Code.
10.
Interest Basis:
2.875 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 0.15 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
4

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.
Dates of Board approval for issuance of
Covered Bonds obtained:
16 December 2021, 6 May 2022 and 20
September 2022
PROVISIONS RELATING TO INTEREST PAYABLE
15.
Fixed Rate Covered Bond Provisions:
Applicable until the Final Maturity Date

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

(ii)
Interest Payment Dates:
23 June in each year, from and including 23
June 2023 up to and including the Final
Maturity Date.

(iii)
Fixed Coupon Amount:
2,875 per 100,000 in Specified
Denomination, except for the Broken
Amount.

(iv)
Broken Amount:
There will be a short first coupon for the
period from and including the Issue Date to
but excluding 23 June 2023, which amounts
to 1,669.86 per 100,000 in Specified
Denomination payable on the Interest
Payment Date falling on 23 June 2023.

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

(vi)
Business Centre(s):
TARGET 2

(vii)
Determination Dates:
23 June 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:
23rd day of each month from (and including)
23 July 2028 to (and including) 23 June
2029, subject to adjustment in accordance
5

with the Business Day Convention set out in
(v) below

(iii)
First Interest Payment Date:
23 July 2028

(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

(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 Banks"):
Not Applicable

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:
+0.15 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
6

(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.

(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):
7

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
13 rue Oudinot, 75007 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 (excluding taxes) per year.
28.
Prohibition of Sales to EEA Retail

Investors:
Applicable
29.
Prohibition of Sales to UK Retail

Investors:
Applicable

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

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 23 June 2028, 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:
5,700

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

5.
REASONS FOR THE OFFER
Estimated net proceeds:
995,870,000

6.
FIXED RATE COVERED BONDS ONLY  YIELD
Indication of yield:
2.914 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:
FR001400E1P5
(ii) Temporary ISIN:
Not Applicable
(iii) Common Code:
255859102
(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