Obligation BNP Paribas Obligations 4.75% ( FR001400LZI6 ) en EUR

BNP Paribas Obligations

100 % ▲

France

FR001400LZI6 ( en EUR )

4.75% par an ( paiement annuel )

13/11/2032

Prospectus brochure de l'obligation BNP Paribas Bonds FR001400LZI6 en EUR 4.75%, échéance 13/11/2032

13/11/2026 ( Dans 252 jours )

BNP Paribas Bonds désigne l'offre de produits d'investissement obligataires proposés par BNP Paribas, incluant des obligations d'entreprises, d'États et des fonds obligataires, avec des niveaux de risque et de rendement variés.

L'Obligation émise par BNP Paribas Obligations ( France ) , en EUR, avec le code ISIN FR001400LZI6, paye un coupon de 4.75% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 13/11/2032

FINAL TERMS
PROHIBITION OF SALES TO EEA 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"). 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 (EU) 2016/97 (as amended, the "Insurance
Distribution 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 has been prepared and therefore offering or selling the Notes 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 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 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 UK
domestic law by virtue of the European Union (Withdrawal) Act 2018 ("EUWA"); (ii) a customer within the
meaning of the provisions of the Financial Services and Markets Act 2000, as amended (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 UK 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 UK domestic law by virtue of the EUWA. Consequently, no key
information document required by Regulation (EU) No 1286/2014 as it forms part of UK domestic law by virtue
of the EUWA (the "UK PRIIPs Regulation") for offering or selling the Notes or otherwise making them available
to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise making
them available to any retail investor in the UK may be unlawful under the UK 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.
UK MiFIR product governance / target market assessment 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 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 EUWA ("UK MiFIR"); 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 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.
1

Final Terms dated 9 November 2023
BNP PARIBAS
(incorporated in France)
(the Issuer)
Legal entity identifier (LEI): R0MUWSFPU8MPRO8K5P83
Issue of EUR 1,500,000,000 4.750% Fixed to Floating Rate Senior Non Preferred Notes
due November 2032
ISIN Code: FR001400LZI6
under the 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
Regulation or to supplement a prospectus pursuant to Article 23 of the Prospectus Regulation, in each case,
in relation to such offer.
2

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 30 June 2023 which received approval n° 23-268 from the Autorité des marchés financiers
("AMF") on 30 June 2023 and each supplement to the Base Prospectus published and approved on or before
the date of these Final Terms (copies of which are available as described below) (the "Supplements")
(provided that to the extent any such Supplement (i) is published and approved after the date of these Final
Terms and (ii) provides for any change to the Conditions of the Notes such changes shall have no effect with
respect to the Conditions of the Notes to which these Final Terms relate) which together constitute a base
prospectus for the purposes of Regulation (EU) 2017/1129 (as amended, the "Prospectus Regulation") (the
"Base Prospectus"). This document constitutes the Final Terms of the Notes described herein for the
purposes of the Prospectus Regulation and must be read in conjunction with the Base Prospectus to obtain
all relevant information. The Base Prospectus and any Supplement(s) to the Base Prospectus and these
Final Terms are available for viewing at https://invest.bnpparibas/en/search/debt/documents and on
the AMF website (www.amf-france.org) and copies may be obtained free of charge at the specified
office of the Principal Paying Agent.
1.
Issuer:
BNP Paribas
2.
(i)
Trade Date:
6 November 2023
Series Number:
20052
Tranche Number:
1
3.
Specified Currency:
Euro ("EUR")
4.
Aggregate Nominal Amount:
Series:
EUR 1,500,000,000
Tranche:
EUR 1,500,000,000
5.
Issue Price of Tranche:
99.922 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:
13 November 2023
Interest Commencement Date: Issue Date
9.
(i)
Maturity Date:
Interest Payment Date falling on or nearest to 13
November 2032
Business Day Convention for
Maturity Date:
Modified Following
10.
Form of Notes:
Bearer
11.
Interest Basis:
4.750% 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 + 1.600 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
3

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 Date(s):
13 November in each year from, and including, 13
November 2024 to, and including, the Optional
Redemption Date, then 13 February 2032, 13 May 2032,
13 August 2032 and 13 November 2032
Business Day Convention for Not applicable (with respect to the Fixed Rate Interest
Interest Period End Date(s):
Period)
Modified Following (with respect to the Floating Rate
Interest Period)
Interest Payment Date(s):
13 November in each year from, and including, 13
November 2024 to, and including, the Optional
Redemption Date, then 13 February 2032, 13 May 2032,
13 August 2032 and 13 November 2032
Business Day Convention for Following (with respect to the Fixed Rate Interest Period)
Interest Payment Date(s):
Modified Following (with respect to the Floating Rate
Interest Period)
Party
responsible
for
calculating the Rate(s) of
Interest
and
Interest
Amount(s):
Calculation Agent
Margin(s):
+ 1.600 per cent. per annum (with respect to the Floating
Rate Interest Period)
Minimum Interest Rate:
As per Conditions
Maximum Interest Rate:
Not applicable
Day Count Fraction:
Actual/Actual ICMA, unadjusted (with respect to the Fixed
Rate Interest Period)
Actual/360 (with respect to the Floating Rate Interest
Period)
4

Determination Dates:
13 November in each year for the Fixed Rate Interest
Period only
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:
4.750 per cent. per annum payable annually in arrear on
each Interest Payment Date during the Fixed Rate
Interest Period
Fixed Coupon Amount(s):
EUR 4,750 per Calculation Amount
Broken Amount(s):
Not applicable
25.
Resettable Notes:
Not applicable
26.
Floating Rate Provisions:
Applicable from, and including, the Optional Redemption
Date to, but excluding, the Maturity Date (the "Floating
Rate Interest Period")
Manner in which the Rate of
Screen Rate Determination
Interest and Interest Amount
is to be determined:
Linear Interpolation:
Not applicable
27.
Screen Rate Determination:
Applicable
Reference Rate:
3-month EURIBOR
Interest Determination Date(s): Two (2) T2 Business Day prior to the start of each Floating
Rate Interest Period
Specified Time:
11:00 am, Brussels time
Relevant Screen Page:
Bloomberg EUR003M
28.
ISDA Determination:
Not applicable
29.
FBF Determination:
Not applicable
30.
Zero Coupon Provisions:
Not applicable
31.
Index Linked Interest Provisions:
Not applicable
32.
Share
Linked/ETI Share Linked Not applicable
Interest Provisions:
33.
Inflation Linked Interest Provisions:
Not applicable
34.
Commodity Linked Interest Provisions: Not applicable
35.
Fund Linked Interest Provisions:
Not applicable
36.
ETI Linked Interest Provisions:
Not applicable
37.
Foreign Exchange (FX) Rate Linked Not applicable
Interest Provisions:
38.
Underlying Interest Rate Linked Not applicable
Interest Provisions:
39.
Additional
Business
Centre(s)
(Condition 3(f) of the Terms and
Conditions of the English Law Notes or
Condition 3(f) of the Terms and T2
5

Conditions of the French Law Notes, as
the case may be):
PROVISIONS RELATING TO REDEMPTION
40.
Final Redemption:
Calculation Amount x 100 per cent.
41.
Final Payout:
Not applicable
42.
Automatic Early Redemption:
Not applicable
43.
Issuer Call Option:
Applicable
Optional Redemption Date(s):
The Interest Payment Date falling on or about 13
November 2031
Optional
Redemption
Valuation Date(s):
Not applicable
Optional
Redemption
Amount(s):
Calculation Amount x 100 per cent.
If redeemable in part:
(a)
Minimum Redemption
Amount:
Not applicable
(b)
Higher Redemption
Amount:
Not applicable
Notice period:
Minimum notice period: 5 calendar days
Maximum notice period: 30 calendar days
44.
Issuer Clean-Up Call:
Not applicable
45.
Noteholder Put Option:
Not applicable
46.
Aggregation:
Not applicable
47.
Index Linked Redemption Amount:
Not applicable
48.
Share Linked/ETI Share Linked
Redemption Amount:
Not applicable
49.
Inflation Linked Redemption Amount:
Not applicable
50.
Commodity
Linked
Redemption Not applicable
Amount:
51.
Fund Linked Redemption Amount:
Not applicable
52.
Credit Linked Notes:
Not applicable
53.
ETI Linked Redemption Amount:
Not applicable
54.
Foreign Exchange (FX) Rate Linked
Redemption Amount:
Not applicable
55.
Underlying Interest Rate Linked Not applicable
Redemption Amount:
56.
Events of Default for Senior Preferred Not applicable
Notes:
57.
Administrator/Benchmark Event:
Not applicable
58.
Early Redemption Amount(s):
Article 45b2(b) BRRD: Not applicable
Final Redemption Amount
59.
Provisions applicable to Physical
Delivery:
Not applicable
6

60.
Variation of Settlement:
Issuer's option to vary The Issuer does not have the option to vary settlement in
settlement:
respect of the Notes.
Variation of Settlement of Not applicable
Physical Delivery Notes:
61.
CNY Payment Disruption Event:
Not applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
62.
Form of Notes:
Bearer Notes
New Global Note:
No
Dematerialised Notes
Bearer dematerialised form (au porteur)
63.
Financial Centre(s) or other special
provisions relating to Payment Days for
the purposes of Condition 4(a):
T2
64.
Talons for future Coupons or Receipts
to be attached to definitive Notes (and
dates on which such Talons mature):
No
65.
Details relating to Partly Paid 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:
Not applicable
66.
Details relating to Notes redeemable in
instalments:
amount
of
each
instalment, date on which each
payment is to be made:
Not applicable
67.
Redenomination, renominalisation and
reconventioning provisions:
Not applicable
68.
Masse (Condition 12 of the Terms and Contractual representation of Noteholders/No Masse
Conditions of the French Law Notes):
shall apply.
69.
Governing law:
French law
70.
Calculation Agent:
BNP Paribas
DISTRIBUTION
71.
(i)
If syndicated, names of Lead Manager:
Managers (specifying Lead
Manager):
BNP Paribas
Joint Lead Managers:
Banco Santander, S.A.
Intesa Sanpaolo S.p.A.
Co-Lead Managers:
DNB Bank ASA
KBC Bank NV
7

OP Corporate Bank plc
Stabilisation Manager (if any):
BNP Paribas
If non-syndicated, name of
relevant Dealer:
Not applicable
72.
U.S. Selling Restrictions:
Reg. S Compliance Category 2; TEFRA Not applicable
73.
Non-Exempt Offer:
Not applicable
74.
Prohibition of Sales to Retail Investors: Prohibition of Sales to EEA Retail Investors:
Applicable
Prohibition of Sales to UK Retail Investors:
Applicable
75.
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.
8

PART B OTHER INFORMATION
1.
Listing and Admission to trading
(i)
Listing and admission to Application will be made by the Issuer (or on its behalf)
trading:
for the Notes to be admitted to trading on Euronext Paris
with effect from/on or around 13 November 2023.
(ii)
Estimate of total expenses
related to admission to trading: EUR 8,800
2.
Ratings
Ratings:
The Notes to be issued are expected to be rated:
- Baa1 by Moody's Deutschland GmbH, Frankfurt am
Main ("Moody's"),
- A- by S&P Global Ratings Europe Limited ("S&P")
- A+ by Fitch Ratings Ireland Limited ("Fitch") and
- A (High) by DBRS Ratings GmbH ("DBRS").
According to Moody's' definitions, obligations rated Baa
are judged to be medium-grade and subject to moderate
credit risk and as such may possess certain speculative
characteristics. The modifier 1 indicates that the
obligation ranks in the higher end of its generic rating
category.
According to S&P's definitions, an obligation rated 'A' is
somewhat more susceptible to the adverse effects of
changes in circumstances and economic conditions than
obligations in higher-rated categories. However, the
obligor's capacity to meet its financial commitments on
the obligation is still strong. The addition of a plus (+) or
minus (-) sign shows relative standing within the rating
categories.
According to Fitch's definitions, `A' ratings denote
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 major rating categories.
According to DBRS' definitions, `A' rating means good
credit quality. The capacity for the payment of financial
obligations is substantial, but of lesser credit quality than
AA. The Issuer may be vulnerable to future events, but
qualifying negative factors are considered manageable.
All rating categories other than AAA and D also contain
subcategories (high) and (low).
Each of Moody's, S&P, Fitch and DBRS is established in
the European Union and is registered under Regulation
(EC) No. 1060/2009 (as amended) (the "CRA
Regulation").
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.
10