Obligation UniCred 0% ( IT0005417479 ) en EUR

Société émettrice UniCred
Prix sur le marché 100 %  ▼ 
Pays  Italie
Code ISIN  IT0005417479 ( en EUR )
Coupon 0%
Echéance 29/01/2024 - Obligation échue



Prospectus brochure de l'obligation UniCredit IT0005417479 en EUR 0%, échue


Montant Minimal 1 000 EUR
Montant de l'émission 35 000 000 EUR
Description détaillée UniCredit est une banque italienne multinationale offrant une large gamme de services bancaires de détail, de gestion de patrimoine et d'investissement en Europe centrale et orientale, en Italie et dans certaines régions d'Europe occidentale.

L'obligation italienne UniCredit (IT0005417479), d'une taille totale de 35 000 000 EUR, avec une taille minimale d'achat de 1 000 EUR et un taux d'intérêt de 0%, émise en EUR et arrivée à maturité le 29/01/2024, a été intégralement remboursée à un prix de marché de 100%.








UniCredit S.p.A.
(incorporated with limited liability as a Società per Azioni in the Republic of Italy under registered
number 00348170101)
Base Prospectus
for the issuance of
Securities with Single Underlying and Multi Underlying
(without capital protection)
under the
Euro 1,000,000,000 Issuance Programme of UniCredit S.p.A.
20 December 2021
Together with the registration document of UniCredit S.p.A. dated 20 December 2021, as supple-
mented from time to time, (the "Registration Document") this document, as supplemented from
time to time, (the "Securities Note") constitutes a base prospectus (the "Base Prospectus") consist-
ing of separate documents within the meaning of Article 8(6) of Regulation (EU) 2017/1129 of the
European Parliament and of the Council of 14 June 2017 on the prospectus to be published when
securities are offered to the public or admitted to trading on a regulated market, and repealing Di-
rective 2003/71/EC, as amended from time to time (the "Prospectus Regulation").
The validity of the Base Prospectus ends on 20 December 2022. For the avoidance of doubt, the
Issuer shall have no obligation to supplement this Base Prospectus in the event of significant new
factors, material mistakes or material inaccuracies when this Base Prospectus is no longer valid.
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TABLE OF CONTENTS
GENERAL DESCRIPTION OF THE PROGRAMME ........................................................................ 11
RISK FACTORS ................................................................................................................................... 14
1.
RISKS RELATED TO THE NATURE OF THE SECURITIES .............................................. 14
1.1.
Credit risk of the Issuer and risks in relation to resolution measures in relation to the Issuer ..

............................................................................................................................................... 14
1.2.
Risks related to market value-influencing factors ................................................................. 15
1.3.
Risks related to the Redemption Amount .............................................................................. 15
1.4.
Risks related to Barrier Event................................................................................................ 16
1.5.
Risks arising from missing ongoing payments ...................................................................... 16
1.6.
Currency and Currency Exchange Rate risk with respect to the Securities .......................... 16
1.7.
Risks related to an Automatic Early Redemption ................................................................. 17
1.8.
Risks related to the Leverage Factor ..................................................................................... 17
1.9.
Risks related to the Issuer's Regular Call Right and the Redemption Right by the Security
Holder .................................................................................................................................... 18
1.10. Risks related to Adjustment Events ....................................................................................... 18
1.11. Risks related to Call Events ................................................................................................... 18
1.12. Risks related to Market Disruption Events ............................................................................ 18
1.13. Risks related to the Issuer's right of rescission ..................................................................... 18
1.14. Specific risks related to securities with a Fixed Interest Rate ............................................... 19
1.15. Specific risks related to Securities with Floating Interest Rate ............................................. 19
1.16. Specific risks related to Securities with Digital Interest Rate ............................................... 19
1.17. Specific risks in relation to Securities with Basket Performance Determination .................. 19
1.18. Specific Risks related to Securities with Worst-of Performance Determination .................. 19
1.19. Risks related to Physical Settlement ...................................................................................... 20
1.20. Risks in relation to Securities with physical delivery of Index Certificates as Delivery Item ..

............................................................................................................................................... 20
1.21. Risks in relation to US withholding taxes ............................................................................. 21
1.22. Risks related to the regulation of benchmarks ...................................................................... 22
2.
RISKS RELATED TO THE UNDERLYING AND THE REFERENCE RATE ..................... 22
2.1.
Risks related to Shares .......................................................................................................... 22
2.1.1.
Similar risks to a direct investment in shares ................................................................ 22
2.1.2.
Risks related to Depository Receipts ............................................................................. 23
2.1.3.
Risks related to dividend payments ............................................................................... 23
2.1.4.
Risks related to Group Shares ....................................................................................... 23
2.2.
Risks related to Indices .......................................................................................................... 24
2.2.1.
Similar risks to a direct investment in index components ............................................. 24
2.2.2.
Risks related to Strategy Indices ................................................................................... 24
2.2.3.
Risks related to dividend payments or other distributions ............................................ 24
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2.2.4.
Risks related to Excess Return Indices .......................................................................... 24
2.2.5.
Risks related to Reference Strategy Indices .................................................................. 24
2.2.6.
Risks in relation to country or sector related indices ..................................................... 25
2.3.
Risks related to Futures Contracts ......................................................................................... 25
2.3.1.
Similar risks to a direct investment in futures contracts ................................................ 25
2.3.2.
No parallel development of spot and futures prices ...................................................... 26
2.3.3.
Risks related to futures contracts with different contract dates ..................................... 26
2.3.4.
Risks with respect to a Roll-Over .................................................................................. 26
2.4.
Risks related to Commodities ................................................................................................ 26
2.4.1.
Similar risks as a direct investment in commodities ..................................................... 26
2.4.2.
Higher risks than other asset classes ............................................................................. 26
2.4.3.
Risks arising from the trading in various time zones and on different markets ............ 26
2.5.
Risks related to Fund Shares ................................................................................................. 27
2.5.1.
Similar risks to a direct investment in Fund Shares ...................................................... 27
2.5.2.
Legal and tax risk .......................................................................................................... 27
2.5.3.
Risks resulting from commissions and fees .................................................................. 28
2.5.4.
Risks relating to valuations of the net asset value and estimates .................................. 28
2.5.5.
Risks resulting from the possible effects of redemptions of Fund Shares ..................... 28
2.5.6.
Risks due to possible changes of investment strategies ................................................ 28
2.5.7.
Risks arising from misconduct by the fund managers ................................................... 28
2.5.8.
Specific risks involved with investments in volatile and illiquid markets .................... 29
2.5.9.
Specific risks involved with investments in other investment funds (Fund of Funds) .. 29
2.5.10.
Specific risks involved with investing exclusively in another investment fund (Feeder
Fund) ............................................................................................................................. 29
2.5.11.
Specific risks associated with exchange traded funds ................................................... 30
2.6.
Risks related to Currency Exchange Rates ............................................................................ 30
2.6.1.
Similar risks as a direct investment in currencies.......................................................... 30
2.6.2.
Risk arising from an indirect determination of the relevant Currency Exchange Rate . 31
2.7.
Risks related to Reference Rates ........................................................................................... 31
2.7.1.
Price risk related to Reference Rates ............................................................................. 31
2.7.2.
Risks related to the cessation of publication of the Reference Rate .............................. 31
2.7.3.
Risks related to the calculation of the Reference Rate .................................................. 31
2.7.4.
Risks related to Risk Free Rates .................................................................................... 31
3.
RISKS RELATED TO THE OFFER TO THE PUBLIC AND/OR ADMISSION TO
TRADING ......................................................................................................................................... 32
3.1.
Risks related to potential conflicts of interests ...................................................................... 32
3.2.
Liquidity risk ......................................................................................................................... 32
3.3.
Risks related to a sale of the Securities ................................................................................. 33
3.4.
Risks related to the spread between bid and offer prices ...................................................... 33
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3.5.
Risks related to Incidental Costs ........................................................................................... 33
3.6.
Risks in connection with a later determination of features ................................................... 33
Responsibility Statement ....................................................................................................................... 35
Consent to the Use of the Base Prospectus ........................................................................................... 36
Information on the Base Prospectus ...................................................................................................... 37
Information on the approval and the notification of the Base Prospectus ......................................... 37
Public offer and admission to trading of Securities issued under the Base Prospectus ..................... 37
Public offer and admission to trading of Securities issued under a Previous Base Prospectus ......... 37
Publications ....................................................................................................................................... 37
General Information on the Securities ................................................................................................... 39
Features of the Securities .................................................................................................................. 39
General .......................................................................................................................................... 39
Product types ................................................................................................................................. 39
Form of the Securities ................................................................................................................... 40
Currency ........................................................................................................................................ 40
ISIN ............................................................................................................................................... 40
Underlying ..................................................................................................................................... 41
Reference Rate .............................................................................................................................. 43
Information in accordance with Article 29 of the Benchmark Regulation .................................... 44
Description of the rights arising from the Securities (including their limitation) ......................... 45
Interest on the Securities ........................................................................................................... 45
Payment of Dividend Amounts ................................................................................................. 45
Payment of Distribution Amounts ............................................................................................. 45
Payment of Additional Amounts ............................................................................................... 45
Redemption of the Securities..................................................................................................... 45
Market Disruptions .................................................................................................................... 46
Adjustments to the Terms and Conditions ................................................................................ 48
Extraordinary Termination of the Securities by the Issuer ........................................................ 49
Novation .................................................................................................................................... 50
Rescission by the Issuer / Corrections ....................................................................................... 50
Tax ............................................................................................................................................. 51
Presentation Period .................................................................................................................... 51
Waiver Right ............................................................................................................................. 51
Governing law of the Securities .................................................................................................... 51
Status of the Securities .................................................................................................................. 51
Quanto and Compo elements ........................................................................................................ 51
Representative of Security Holders ............................................................................................... 52
Payments ....................................................................................................................................... 52
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Information on the offer and the admission to trading .......................................................................... 53
Method and time limits for paying up and for delivery of the Securities .......................................... 53
Issue Price ......................................................................................................................................... 53
Pricing ............................................................................................................................................... 53
Selling concessions or other commissions ........................................................................................ 53
Placing and Distribution .................................................................................................................... 53
Admission to trading and listing of the Securities ............................................................................. 54
Potential investors ............................................................................................................................. 54
Terms and conditions of the offer ..................................................................................................... 54
Distributors ........................................................................................................................................ 55
Offer during a subscription period .................................................................................................... 55
Method for calculating the yield ....................................................................................................... 55
MiFID II Product Governance .......................................................................................................... 56
Prohibition of sales to EEA retail investors ...................................................................................... 56
Publications after completed issuance of the Securities .................................................................... 56
Description of the Securities ................................................................................................................. 57
A. Securities with Single-Underlying ............................................................................................ 57
1.
General Description of the Product Types with Single Underlying ...................................... 57
1.1.
Product Type 1: Bonus Securities ................................................................................. 57
1.2.
Product Type 2: Reverse Bonus Securities ................................................................... 60
1.3.
Product Type 3: Express Securities ............................................................................... 62
1.4.
Product Type 4: Short Express Securities ..................................................................... 65
1.5.
Product Type 5: Express Plus Securities ....................................................................... 67
1.6.
Product Type 6: Short Express Plus Securities ............................................................. 69
1.7.
Product Type 7: Cash Collect Securities ....................................................................... 71
1.8.
Product Type 8: Short Cash Collect Securities ............................................................. 74
1.9.
Product Type 9: Lock-in Cash Collect Securities ......................................................... 76
1.10. Product Type 10: Cash Collect Geared Put Securities .................................................. 78
1.11. Product Type 11: Twin Win Securities ......................................................................... 80
1.12. Product Type 12: Sprint Barrier Securities.................................................................... 82
1.13. Product Type 13: Outperformance Securities ............................................................... 83
1.14. Product Type 14: Reverse Convertible Securities ......................................................... 85
1.15. Product Type 15: Barrier Reverse Convertible Securities ............................................. 87
1.16. Product Type 16: Barrier Reverse Convertible Stability Securities .............................. 89
1.17. Product Type 17: Discount Securities ........................................................................... 91
1.18. Product Type 18: Closed End Securities ....................................................................... 92
1.19. Product Type 19: Closed End Leverage Securities ....................................................... 94
1.20. Product Type 20: Open End Securities ......................................................................... 96
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1.21. Product Type 21: Open End Leverage Securities .......................................................... 98
1.22. Product Type 22: Knock-in Step-in Tracker Securities ............................................... 100
1.23. Product Type 23: Step-in Tracker Securities ............................................................... 104
2.
Additional Conditional Amounts ........................................................................................ 107
2.1.
Additional Conditional Amount (j) ............................................................................. 107
2.2.
Additional Conditional Amount (k) ............................................................................ 108
2.3.
Additional Conditional Amount (m) ........................................................................... 111
3.
Additional Features ............................................................................................................. 113
3.1.
Additional Unconditional Amount (l) ......................................................................... 113
3.2.
Cap Feature .................................................................................................................. 113
3.3.
Compo Feature ............................................................................................................ 113
3.4.
Quanto Physical Feature .............................................................................................. 113
4.
Automatic Early Redemption Feature ................................................................................. 114
4.1.
Automatic Early Redemption (k) ................................................................................ 114
4.2.
Automatic Early Redemption (k) (Glider) .................................................................. 114
4.3.
Automatic Early Redemption (k) (Magnet)................................................................. 115
5.
Barrier Observation ............................................................................................................. 116
5.1.
Continuous Barrier Observation .................................................................................. 116
5.2.
Daily Barrier Observation ........................................................................................... 116
5.3.
Date-related Barrier Observation ................................................................................ 116
5.4.
Final Barrier Observation ............................................................................................ 116
6.
Interest ................................................................................................................................. 118
6.1.
Fixed Interest Rate ....................................................................................................... 118
6.2.
Floating Interest Rate .................................................................................................. 118
6.3.
Digital Interest Rate ..................................................................................................... 118
6.4.
Reference Rate ............................................................................................................ 118
6.5.
Interest Amount ........................................................................................................... 118
7.
Reference Price Determination............................................................................................ 119
7.1.
Determination of the Initial Reference Price ............................................................... 119
7.2.
Determination of the Final Reference Price ................................................................ 119
7.3.
Determination of the Reference Price (b) .................................................................... 119
7.4.
Determination of the Reference Price (j) ..................................................................... 119
7.5.
Determination of the Reference Price (k) .................................................................... 120
7.6.
Determination of the Reference Price (m) ................................................................... 120
7.7.
Determination of the Reference Price (t) ..................................................................... 120
B. Securities with Multi-Underlying ............................................................................................ 121
1.
General Description of the Product Types with Multi Underlying ..................................... 121
1.1.
Product Type 24: Bonus Securities with Multi-Underlying ........................................ 121
6



1.2.
Product Type 25: Reverse Bonus Securities with Multi-Underlying .......................... 124
1.3.
Product Type 26: Express Securities with Multi-Underlying ..................................... 126
1.4.
Product Type 27: Short Express Securities with Multi-Underlying ............................ 129
1.5.
Product Type 28: Express Plus Securities with Multi-Underlying .............................. 131
1.6.
Product Type 29: Short Express Plus Securities with Multi-Underlying .................... 134
1.7.
Product Type 30: Cash Collect Securities with Multi-Underlying .............................. 136
1.8.
Product Type 31: Short Cash Collect Securities with Multi-Underlying .................... 139
1.9.
Product Type 32: Lock-in Cash Collect Securities with Multi-Underlying ................ 141
1.10. Product Type 33: Click-on Cash Collect Securities with Multi-Underlying ............... 143
1.11. Product Type 34: Twin Win Securities with Multi-Underlying .................................. 145
1.12. Product Type 35: Darwin Securities ............................................................................ 147
1.13. Product Type 36: Multibarrier Securities .................................................................... 149
1.14. Product Type 37: Outperformance Securities with Multi-Underlying ........................ 151
1.15. Product Type 38: Barrier Reverse Convertible Securities with Multi-Underlying ..... 152
1.24. Product Type 39: Sprint Barrier Securities with Multi-Underlying ............................ 155
1.25. Product Type 40: Closed End Basket Securities ......................................................... 157
1.26. Product Type 41: Open End Basket Securities ............................................................ 159
2.
Additional Conditional Amounts ........................................................................................ 161
2.1.
Additional Conditional Amount (j) ............................................................................. 161
2.2.
Additional Conditional Amount (k) ............................................................................ 162
2.3.
Additional Conditional Amount (m) ........................................................................... 162
3.
Additional Features ............................................................................................................. 168
3.1.
Additional Unconditional Amount (l) ......................................................................... 168
3.2.
Cap Feature .................................................................................................................. 168
3.3.
Quanto Physical Feature .............................................................................................. 168
4.
Automatic Early Redemption Feature ................................................................................. 169
4.1.
Automatic Early Redemption (j) (Darwin) .................................................................. 169
4.2.
Automatic Early Redemption (k) ................................................................................ 169
4.3.
Automatic Early Redemption (k) (Darwin) ................................................................. 170
4.4.
Automatic Early Redemption (k) (Glider) .................................................................. 170
4.5.
Automatic Early Redemption (k) (Magnet)................................................................. 171
4.6.
Automatic Early Redemption (m) (Darwin) ................................................................ 172
5.
Barrier Observation ............................................................................................................. 173
5.1.
Continuous Barrier Observation .................................................................................. 173
5.2.
Daily Barrier Observation ........................................................................................... 173
5.3.
Date-related Barrier Observation ................................................................................ 173
5.4.
Final Barrier Observation ............................................................................................ 173
6.
Performance Determination ................................................................................................ 175
7



6.1.
Determination of the Modified Performance (final) .................................................... 175
6.2.
Determination of the Relevant Performance (b) .......................................................... 175
6.3.
Determination of the Relevant Performance (c) .......................................................... 176
6.4.
Determination of the Relevant Performance (final) .................................................... 177
6.5.
Determination of the Relevant Performance (j) .......................................................... 178
6.6.
Determination of the Relevant Performance (k) .......................................................... 178
6.7.
Determination of the Relevant Performance (m) ........................................................ 179
7.
Reference Price Determination............................................................................................ 181
7.1.
Determination of the Initial Reference Price ............................................................... 181
7.2.
Determination of the Final Reference Price ................................................................ 181
7.3.
Determination of the Reference Price (b) .................................................................... 181
7.4.
Determination of the Reference Price (c) .................................................................... 181
7.5.
Determination of the Reference Price (k) .................................................................... 182
7.6.
Determination of the Reference Price (j) ..................................................................... 182
7.7.
Determination of the Reference Price (m) ................................................................... 182
C. Description of the Securities incorporated by Reference in the Base Prospectus ................... 183
Conditions of the Securities ................................................................................................................ 184
General Information ........................................................................................................................ 184
Structure of the Conditions.............................................................................................................. 185
Part A - General Conditions of the Securities ................................................................................. 188
[Option 1: In the case of Securities governed by German law, the following applies: ............... 188
[Option 2: In the case of Securities governed by Italian law, the following applies: .................. 193
Part B ­ Product and Underlying Data ............................................................................................ 198
Part C ­ Special Conditions of the Securities .................................................................................. 211
[Special Conditions that apply to particular product types: ........................................................ 211
Securities with Single-Underlying .............................................................................................. 211
Bonus Securities ...................................................................................................................... 211
Reverse Bonus Cap Securities ................................................................................................. 211
Express Securities.................................................................................................................... 211
Short Express Securities .......................................................................................................... 211
Express Plus Securities ............................................................................................................ 211
Short Express Plus Securities .................................................................................................. 211
Cash Collect Securities ............................................................................................................ 211
Short Cash Collect Securities .................................................................................................. 211
Lock-In Cash Collect Securities .............................................................................................. 211
Cash Collect Geared Put Securities ......................................................................................... 211
Twin Win Securities ................................................................................................................ 211
Express Twin Win Securities .................................................................................................. 211
8



Sprint Barrier Securities .......................................................................................................... 211
Outperformance Securities ...................................................................................................... 211
Reverse Convertible Securities................................................................................................ 211
Barrier Reverse Convertible Securities ................................................................................... 211
Barrier Reverse Convertible Stability Securities ..................................................................... 211
Discount Securities .................................................................................................................. 211
Closed End Securities .............................................................................................................. 265
Closed End Leverage Securities .............................................................................................. 265
Open End Securities ................................................................................................................ 265
Open End Leverage Securities ................................................................................................ 265
Knock-in Step-in Tracker Securities ....................................................................................... 265
Step-in Tracker Securities ....................................................................................................... 265
Securities with Multi-Underlying ................................................................................................ 313
Bonus Securities with Multi-Underlying................................................................................. 313
Reverse Bonus Securities with Multi-Underlying ................................................................... 313
Express Securities with Multi-Underlying .............................................................................. 313
Short Express Securities with Multi-Underlying .................................................................... 313
Express Plus Securities with Multi-Underlying ...................................................................... 313
Short Express Plus Securities with Multi-Underlying ............................................................. 313
Cash Collect Securities with Multi-Underlying ...................................................................... 313
Short Cash Collect Securities with Multi-Underlying ............................................................. 313
Lock-in Cash Collect Securities with Multi-Underlying ......................................................... 313
Click-on Cash Collect Securities with Multi-Underlying ....................................................... 313
Twin Win Securities with Multi-Underlying .......................................................................... 313
Darwin Securities .................................................................................................................... 313
Multibarrier Securities ............................................................................................................. 313
Outperformance Securities with Multi-Underlying ................................................................. 313
Barrier Reverse Convertible Securities with Multi-Underlying .............................................. 313
Sprint Barrier Securities with Multi-Underlying ..................................................................... 313
Closed End Basket Securities .................................................................................................. 355
Open End Basket Securities .................................................................................................... 355
[Special Conditions that apply to all product types: .................................................................... 366
Conditions of the Securities incorporated by Reference in the Base Prospectus ............................ 386
Form of Waiver Notice........................................................................................................................ 387
Form of Final Terms............................................................................................................................ 388
Tax Warning ........................................................................................................................................ 400
U.S. Withholding Tax ..................................................................................................................... 400
General Information ............................................................................................................................ 401
9



Selling Restrictions ......................................................................................................................... 401
United States of America ............................................................................................................ 401
Prohibition of sales to EEA retail investors ................................................................................ 401
Authorisation ................................................................................................................................... 402
Clearing System .............................................................................................................................. 402
Agents.............................................................................................................................................. 402
Interest of Natural and Legal Persons involved in the Issue/Offer.................................................. 402
Third Party Information................................................................................................................... 404
Use of Proceeds and Reasons for the Offer ..................................................................................... 404
Information incorporated by Reference........................................................................................... 405

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