Obligation BNP Paribas SA 3.375% ( US09659X2D34 ) en USD

BNP Paribas SA

99.977 % ▲

France

US09659X2D34 ( en USD )

3.375% par an ( paiement semestriel )

08/01/2025 - Obligation échue

Prospectus brochure de l'obligation BNP Paribas US09659X2D34 en USD 3.375%, échue

200 000 USD

2 000 000 000 USD

09659X2D3

A- ( Qualité moyenne supérieure )

Baa1 ( Qualité moyenne inférieure )

BNP Paribas est une banque internationale française, l'une des plus grandes d'Europe, offrant une large gamme de services financiers aux particuliers, entreprises et institutions.

L'Obligation émise par BNP Paribas SA ( France ) , en USD, avec le code ISIN US09659X2D34, paye un coupon de 3.375% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 08/01/2025

L'Obligation émise par BNP Paribas SA ( France ) , en USD, avec le code ISIN US09659X2D34, a été notée Baa1 ( Qualité moyenne inférieure ) par l'agence de notation Moody's.

L'Obligation émise par BNP Paribas SA ( France ) , en USD, avec le code ISIN US09659X2D34, a été notée A- ( Qualité moyenne supérieure ) par l'agence de notation Standard & Poor's ( S&P ).

PRICING SUPPLEMENT (To product supplement dated May 10, 2017 and base prospectus dated May 5, 2017 as supplemented by prospectus supplement No. 1
dated August 2, 2017 and prospectus supplement No. 2 dated November 3, 2017)

U.S.$2,000,000,000 Fixed Rate Senior Non Preferred Notes Due January 9, 2025

January 2, 2018

This Pricing Supplement should be read together with the accompanying product supplement dated May 10, 2017 ("Product Supplement"), and base prospectus dated
May 5, 2017 as supplemented by prospectus supplement No. 1 dated August 2, 2017 and prospectus supplement No. 2 dated November 3, 2017 (together, the "Base
Prospectus", and together with the Product Supplement, the "Base Documents") and the documents incorporated by reference therein. Terms used in this Pricing
Supplement are described or defined in the Base Documents. The Senior Non Preferred Notes will have terms described in the Base Documents, as supplemented by
this Pricing Supplement. If the terms described in this Pricing Supplement are different or inconsistent with those described in the Base Documents, the terms described
in this Pricing Supplement will supersede. Before you decide to invest we urge you to read this Pricing Supplement together with the Base Documents.

Issuer: BNP Paribas
Type of Notes: Fixed Rate.
Expected Rating of the Senior Non Preferred Notes: Baa1/A-/A+/
Type of Security: Senior Non Preferred Notes.
A(High)*
Rate of Interest: 3.375%.
Principal Amount: $2,000,000,000.
Benchmark Yield and Note: 2.374%, U.S. Treasury 2.250% due December 31,
Issue Price: 99.821% or $1,996,420,000.
2024.
Pricing Date: January 2, 2018.
Issue Yield: 3.404% per annum.
Issue Date: January 9, 2018.
Issue Spread to Pricing Benchmark: 1.03%.
Maturity Date: January 9, 2025.
Interest Payment Date(s): January 9 and July 9 of each year, commencing on July
Redemption Amount: 100% of the Principal Amount of the Senior Non
9, 2018, and ending on the Maturity Date.
Preferred Notes, plus accrued interest thereon.
Interest Calculation Period: The Interest Amount, if any, will be payable semi-
Redemption: The Issuer may at any time redeem the Senior Non Preferred
annually in arrears on each Interest Payment Date. The first Interest Calculation
Notes in whole at their final redemption amount, together with accrued
Period will begin on, and include January 9, 2018 and end on, but exclude, the first
interest, upon the occurrence of a Withholding Tax Event or Gross-Up Event
Interest Payment Date. Subsequent Interest Calculation Periods will begin on, and
(subject to Condition 5(o) (Conditions to redemption prior to the Maturity
include, the most recent Interest Payment Date and end on, but exclude, the next
Date or substitution and variation of Senior Non Preferred Notes)).
succeeding Interest Payment Date.
Call Option: None except as described under "Optional Redemption for
Regular Record Dates: With respect to each Interest Payment Date, the date that is
Taxation Reasons".
one Business Day prior to such Interest Payment Date, whether or not that Interest
Status: Senior Non Preferred. See "Additional Information" below.
Payment Date is a Business Day; provided that for an Interest Payment Date that is
Substitution and Variation of Senior Non Preferred Notes: Subject to
also the Maturity Date, the interest payable on that Interest Payment Date will be
having given notice to the Fiscal and Paying Agent and the Noteholders, if a
payable to the person to whom the principal is payable.
MREL/TLAC Disqualification Event has occurred and is continuing, the
Statutory Write-Down or Conversion: By its acquisition of the Senior Non
Issuer may, at its option, but subject to Condition 5(o) (Conditions to
Preferred Notes, each Noteholder (which includes any current or future holder of a
redemption prior to the Maturity Date or substitution and variation of Senior
beneficial interest in the Notes) acknowledges, accepts, consents and agrees to be
Non Preferred Notes), substitute all (but not some only) of the Senior Non
bound by the effect of the exercise of the Bail-In or Loss Absorption Power by a
Preferred Notes or vary the terms of all (but not some only) of the Senior
Relevant Resolution Authority.
Non Preferred Notes without any requirement for the consent or approval of
Business Day Convention: Following.
the Noteholders, so that they become or remain Qualifying Notes.
Day Count Fraction: 30/360, Unadjusted.
Waiver of Set-Off: No Noteholder may at any time exercise or claim (and
Business Day: New York and TARGET 2.
shall be deemed to have waived) any Waived Set-Off Rights against any
Lead Manager: BNP Paribas Securities Corp.
right, claim, or liability the Issuer has or may have or acquire against such
Senior Co-Lead Managers: ING Financial Markets LLC; Standard Chartered Bank;
Noteholder, directly or indirectly, howsoever arising.
UniCredit Capital Markets LLC.
No Events of Default: The terms of the Notes do not include events of
Co-Lead Managers: Banco Bradesco BBI S.A.; ICBC Standard Bank Plc; Lloyds
default. However Noteholders may, upon written notice to the Fiscal and
Securities Inc.; Scotia Capital (USA) Inc.; TD Securities (USA) LLC.
Paying Agent, cause the Notes to become due and payable, together with
Calculation Agent: BNP Paribas Securities Corp.
accrued interest thereon, as of the date on which said notice is received by
Denominations: $200,000 and integral multiples of U.S. $1,000 in excess thereof.
the Fiscal and Paying Agent, in the event that an order is made or an
CUSIP: 144A: 09659W2D5; Reg S: 09659X2D3
effective decision is passed for the liquidation (liquidation amiable ou
ISIN: 144A: US09659W2D51; Reg S: US09659X2D34
liquidation judiciare) of the Issuer.
Series: 2823
* "Baa1" by Moody's Investors Service Ltd, "A-" by Standard and Poor's Ratings Group, "A+" by Fitch Ratings and "A(High)" by DBRS.
A rating (1) is subject to downward revision, suspension or withdrawal at any time by the assigning rating organization, (2) does not take into account market risk or
the performance-related risks of the investment, and (3) is not a recommendation to buy, sell or hold securities.
Certain Senior Co-Lead Managers and Co-Lead Managers may not be U.S. registered broker-dealers and therefore may not make sales of any Notes in the United
States or to U.S. persons except in compliance with applicable U.S. laws and regulations. To the extent that any such Senior Co-Lead Manager and Co-Lead Manager
intends to effect sales of the Senior Non Preferred Notes in the United States, it will do so only through one or more U.S. registered broker-dealers or otherwise as
permitted by applicable U.S. law.
ICBC Standard Bank Plc is restricted in its U.S. securities dealings under the United States Bank Holding Company Act and may not underwrite, subscribe, agree to
purchase or procure purchasers to purchase notes that are offered or sold in the United States. Accordingly, ICBC Standard Bank Plc shall not be obligated to, and
shall not, underwrite, subscribe, agree to purchase or procure purchasers to purchase notes that may be offered or sold by ot her underwriters in the United States.
ICBC Standard Bank Plc shall offer and sell the Securities constituting part of its allotment solely outside the United States.
________________________________________________

The Issuer has not been registered under the Investment Company Act of 1940, as amended, and the Senior Non Preferred Notes have not been,
and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act"), or the state securities laws of any state of the United States or
the securities laws of any other jurisdiction and are being offered only to qualified institutional buyers ("QIBs"), within the meaning of Rule 144A, pursuant
to the registration exemption under Rule 144A and outside the United States to non-"U.S. persons" in "offshore transactions" (as such terms are defined in
Rule 902 under the Securities Act) pursuant to Regulation S under the Securities Act.
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Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of the Senior
Non Preferred Notes or determined that this Pricing Supplement is truthful or complete. Any representation to the contrary is a criminal offense. Under no
circumstances shall this Pricing Supplement constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these Notes, in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such jurisdiction.

The Senior Non Preferred Notes constitute unconditional liabilities of the Issuer. The Senior Non Preferred Notes are not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality.

It is expected that delivery of the Senior Non Preferred Notes will be delivered against payment therefor on or about January 9, 2017, which will
be the fifth business day following the date of pricing of the Senior Non Preferred Notes (such settlement cycle being referred to herein as "T+5"). Under
Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days
unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Senior Non Preferred Notes on the date of
pricing will be required, by virtue of the fact that the Senior Non Preferred Notes initially will settle in T+5, to specify an alternate settlement cycle at the
time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade those Notes on the date of pricing or the next two business
days should consult their own advisor.
__________________________
BNP PARIBAS

ADDITIONAL INFORMATION

You should read this Pricing Supplement together with the Base Documents.

This Pricing Supplement, together with the Base Documents, contains the terms of the Senior Non
Preferred Notes and supersedes all prior or contemporaneous oral statements as well as any other written materials
including preliminary or indicative pricing terms, correspondence, trade ideas, structures for implementation, sample
structures, brochures or other educational materials of ours. You should carefully consider, among other things, the
matters set forth in "Risk Factors" in the Base Documents (including, in particular, the Risk Factors included under
the heading "Risk Factors" in the Base Prospectus and the Risk Factors included under the heading "Risks Relating
to All Notes" in the Product Supplement).

An investment in the Senior Non Preferred Notes entails significant risks relating to the Senior Non
Preferred Notes not associated with similar investments in a conventional debt security, including those described
below. You should read the following information about these risks, together with the other information in this
Pricing Supplement, before investing in the Senior Non Preferred Notes. We urge you to consult your investment,
legal, tax, accounting and other advisors before you invest in the Senior Non Preferred Notes.

Status of the Senior Non Preferred Notes

The Notes will be Senior Non Preferred Obligations (as defined in the Base Prospectus) and constitute
direct, unconditional, unsecured and senior (chirographaires) obligations of the Issuer, and rank and will at all times
rank (a) senior to Eligible Creditors (as defined in the Base Prospectus) of the Issuer, Ordinarily Subordinated
Obligations (as defined in the Base Prospectus) and any other present or future claims otherwise ranking junior to
Senior Non Preferred Obligations; (b) pari passu among themselves and with other Senior Non Preferred
Obligations; and (c) junior to present and future claims benefiting from preferred exceptions including Senior
Preferred Obligations (as defined in the Base Prospectus). Subject to applicable law, in the event of the voluntary or
judicial liquidation (liquidation amiable ou liquidation judiciaire) of the Issuer, bankruptcy proceedings or any other
similar proceedings affecting the Issuer, the rights of Noteholders to payment under the Senior Non Preferred Notes
rank (a) junior to Senior Preferred Obligations; and (b) senior to any Eligible Creditors of the Issuer, Ordinarily
Subordinated Obligations and any other present or future claims otherwise ranking junior to Senior Non Preferred
Obligations.

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