Obligation Natixis Global 5.4% ( XS0160553441 ) en EUR

Natixis Global

100 % ⇌

France

XS0160553441 ( en EUR )

5.4% par an ( paiement annuel )

09/01/2033

Prospectus brochure de l'obligation Natixis XS0160553441 en EUR 5.4%, échéance 09/01/2033

100 000 EUR

60 100 000 EUR

09/01/2026 ( Dans 91 jours )

Natixis est une banque de financement, de gestion et d'assurance appartenant au Groupe BPCE, offrant des services à une clientèle institutionnelle, corporate et de gestion de patrimoine.

L'Obligation émise par Natixis Global ( France ) , en EUR, avec le code ISIN XS0160553441, paye un coupon de 5.4% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 09/01/2033

Pricing Supplement

CDC FINANCE-CDC IXIS
CDC IXIS CAPITAL MARKETS

Euro 10,000,000,000
in respect of CDC IXIS CAPITAL MARKETS
and
Euro 10,000,000,000
in respect of CDC Finance CDC IXIS
Debt Issuance Programme

SERIES NO: 10
TRANCHE NO: 12
EUR 537,1000,000 Subordinated Fixed Rate Notes due
2033
to be consolidated and form a single series with the
existing EUR 53,100,000 Subordinated Fixed Rate
Notes due 2033

Issue Price: 100.090 per cent. of the principal amount of the Notes plus
an amount corresponding to accrued interest from, and including,
9 January 2003 to, but excluding, 17 April 2003, at a rate of 1.449863
per cent.

CDC IXIS Capital Markets

The date of this Pricing Supplement is 714 JanuaryApril 2003.

This Pricing Supplement, under which the Notes described herein (the "Notes") are issued, is
supplemental to, and should be read in conjunction with, the offering circular (the "Offering Circular")
dated 3 July 2002 issued in relation to the Debt Issuance Programme of CDC Finance-CDC IXIS (the
"Issuer") and CDC IXIS Capital Markets. Terms defined in the Offering Circular have the same
meaning in this Pricing Supplement. The Notes will be issued on the terms of this Pricing Supplement
read together with the Offering Circular. The Issuer accepts responsibility for the information contained
in this Pricing Supplement which, when read together with the Offering Circular, contains all
information that is material in the context of the issue of the Notes.
This Pricing Supplement does not constitute, and may not be used for the purposes of, an offer of, or
an invitation by or on behalf of anyone to subscribe or purchase any of the Notes.
Except as disclosed hereunder, there has been no significant change in the financial or trading
position of the Issuer, or of its Group since 30 June 2002 and no material adverse change in the
financial position or prospects of the Issuer, or of its Group since 31 December 2001.
Since the date of the Offering Circular, the following developments have occurred :
In a press release dated November 13, 2002, CDC IXIS and CDC IXIS Capital Markets made the
following statement : CDC IXIS announced its plan to merge with its wholly-owned subsidiary CDC
IXIS Capital Markets. This operation is in line with the internal reorganization of the CDC IXIS group
as it aims to simplify its structure. It was announced that the merger would take effect on 20
December, 2002, subject to approval by the shareholders' meeting of CDC IXIS to be held on the
same date. On 18 December 2002, CDC IXIS's Executive Board has elected to push back the
effective date of the merger to the first quarter of 2003.
The French regulatory authorities (Comité des établissements de crédit et des entreprises
d'investissement - CECEI and Commission des Opérations de Bourse - COB), have agreed to the
transaction. Since the Japanese authorities, however, have not delivered the necessary approval for
the operation of the Tokyo branch in CDC IXIS's name in the expected time, the executive board of
CDC IXIS decided to postpone the effective date of the merger, notably due to the impact on the
activities in Japan.
Thus the merger, initially announced for 20 December 2002, was postponed to take place in the first
semester of 2003. It will be carried out based on the 31 December 2002 accounts.
Following this merger, the capital market activities currently carried out by CDC ICM will be fully
transferred to CDC IXIS and, throughout the transfer, the level of security currently applicable to
transactions carried out with counterparties by CDC IXIS and CDC ICM will be maintained.
In a public statement dated 21 January 2003, the European Commission notified France a
recommendation to take appropriate measures for the phasing out of the CDC Guarantee (granted by
Caisse des dépôts et consignations - "CDC"- to its subsidiary CDC IXIS).
On 28 March 2003, the European Union Commission, the French Authorities and CDC reached an
agreement (hereafter in this Recent Development Section designated as the "Agreement") which
covers the gradual phasing out of the guarantee system granted by CDC to counterparties of CDC

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Finance CDC IXIS ("CDC IXIS") and, directly or indirectly, a number of it subsidiaries (including CDC
IXIS Capital Markets ("CDC ICM")).
In a press release of the same day the European Union Commission indicated that (extract):
"According to the agreement reached today, the guarantee in favour of CDC IXIS will
be phased out progressively. The phase-out schedule provides for a transitional
period, which lasts until 23 January 2007 4 years after the Commission proposed that
the guarantee should be abolished. During this period, the existing guarantee may
remain in place for operations which mature before 23 January 2017. After 23 January
2007 no new instruments will be initiated under the guarantee.
However, the guarantee can be "grandfathered" for all on and off-balance sheet
liabilities existing at 1 April 2003 until they mature. Al on and off-balance sheet
liabilities entered into during the transitional period until 23 January 2007 are covered
by the guarantee if they mature before 23 January 2017. For those liabilities maturing
after 23 January 2017, the guarantee wil not be maintained.
There wil be an additional one-year transitional period until 23 January 2004 for those
off-balance sheet items that mature after 23 January 2017. This is to enable CDC IXIS
to create a special purpose vehicle, which it anticipates wil obtain an AAA rating, and
will be dedicated to this activity. "
As a result of the Agreement and internal decisions relating to its application, as regards issues of
Notes under the Programme:
1. from 1 April 2003 (included), CDC IXIS and its subsidiaries, including CDC ICM, will not
Formatted: Bullets and Numbering
initiate (based on their respective trade dates) issues of Notes falling under the scope of the
CDC Guarantee and maturing on or after January 24, 2017;
2. save for Subordinated Notes, Notes the issue of which was initiated up to 23 January 2007
(included) and maturing on or prior to 23 January 2017 will remain guaranteed by CDC in
accordance with the terms of the CDC Guarantee. For avoidance of doubt, Notes issued by
CDC IXIS initiated until March 31st, 2003 (inclusive) and with a Maturity Date over 23 January
2017, will continue to benefit from the guarantee of the CDC in accordance with the terms of
the CDC Guarantee;
3. subject to appropriate documentation being implemented (including any update of the
Programme as may be necessary), it will be possible to issue Notes under the Programme
with a Maturity Date after January 23, 2017. Such Notes will not be covered by the CDC
Guarantee.
Without questioning the "grandfathering" principle and following appropriate publications, a new
guarantee (cautionnement) in the form of a joint and several obligation complying with the terms of the
Agreement will be entered into between CDC and CDC IXIS which will supersede the current CDC
Guarantee.
Following the above referred public statement of the European commission dated 21 January 2003,
Standard and Poor's and Moody's published those following statements on 22 January 2003:
Standard and Poor's (extract)
"On Jan. 22, 2003, Standard & Poor's Ratings Services revised its outlook on the 'AAA' long-term
counterparty credit rating on France-based CDC Finance - CDC IXIS (CDC IXIS) to negative from
stable, following the proposal by the European Commission (EC) to gradually withdraw the financial
guarantee provided to CDC IXIS by its parent, French public entity Caisse des Dépôts et
Consignations (AAA/Stable/A-1+; CDC).
At the same time, the 'AAA' long-term and 'A-1+' short-term counterparty credit ratings on CDC IXIS
were affirmed"

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Moody's (extract)
"Moody's Investors Service confirmed the Aaa/Prime-1 debt and bank deposit ratings of CDC Ixis
based on the guarantee provided by its parent, state-owned, Aaa-rated Caisse des Dépôts et
Consignations (CDC), as well as CDC Ixis's Aa1 non-guaranteed issuer rating"

Signed:
.......................................

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SCHEDULE
The terms of the Notes and additional provisions relating to their issue are as follows:
Provisions appearing on the face of the Notes
1
Issuer:
CDC Finance-CDC IXIS
2
Series No :
10
3
Tranche No :
2
The Notes will be consolidated and form a
single series, and be interchangeable for
trading purposes, with the Original Notes
as from the date of exchange of interests
in the Temporary Global Note for interests
in the Permanent Global Note, which is
expected to be on or around the date 40
days after the Issue Date ("Exchange
Date").1
4
ISIN :
XS0166593474 until the Exchange Date,
and thereafter
XS0160553441XS0160553441
5
Common Code:
016659347 until the Exchange Date, and
thereafter 01605534416055344
6
Sicovam Number:
Not Applicable
7
Currency :
Euro ("EUR")
8
Principal Amount of Tranche :
EUR 537,1000,000
9
Issue Date :
917 JanuaryApril 2003
Provisions appearing on the back of the Notes
10 Form :
Bearer
11 Denomination(s) :
EUR 100,000
12 Status :

Subordinated as to principal and/or interest
Subordinated as to principal but not
interest
13 Interest Commencement Date (other than Zero
9 January 2003Issue Date
Coupon Notes):
14 Interest Rate (including Interest Rate on overdue 5.40 per cent. per annum
amounts after Maturity Date or Early Redemption
Date) (*):

15 Interest Payment Date(s) (other than Zero Coupon
9 January of each year commencing on 9
Notes):
January 2004

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16 Business Day Convention:
Not Applicable

17 Relevant Time (Floating Rate Notes):
Not Applicable
18 Interest Determination Date (Floating Rate Notes):
Not Applicable
19 Primary Source for Floating Rate
Not Applicable
(Floating Rate Notes):
20 Manner in which the Rate(s) of Interest is/are to be
Not Applicable
determined

(i) Interest Period Date(s)
Not Applicable

(ii) Party responsible for calculating the Rate(s) of
Not Applicable
Interest Amount(s) (if not the Calculation Agent):

(ii ) Screen Rate Determination (Condition 5(c)(B)):
Not Applicable

(iv) ISDA Determination (Condition 5(c)(A)):
Not Applicable

Floating Rate Option:
Not Applicable

Designated Maturity:
Not Applicable

Reset Date:
Not Applicable

ISDA Definition: if different from those set out in the
Not Applicable
Conditions:
21 Reference Banks (Floating Rate Notes - if Primary
Not Applicable
Source is "Reference Banks"):
22 Relevant Financial Centre (Floating Rate Notes):
Not Applicable
23 Benchmark (Floating Rate Notes):
Not Applicable
24 Representative Amount (Floating Rate Notes):
Not Applicable
25 Relevant Currency (Floating Rate Notes):
Not Applicable
26 Effective Date (Floating Rate Notes):
Not Applicable
27 Specified Duration (Floating Rate Notes):
Not Applicable
28 Margin (if applicable):
Not Applicable
29 Rate Multiplier (if applicable):
Not Applicable
30 Maximum/Minimum Interest Rate (if applicable):
Not Applicable
31 Maximum/Minimum Instalment Amount (if applicable): Not Applicable
32 Maximum/Minimum Redemption Amount (if
Not Applicable
applicable):
33 Interest Amount:
EUR 5,400 per EUR 100,000 in nominal
amount
34 Day Count Fraction :
Actual/Actual-ISMA
35 Determination Date(s):
9 January in each year
(Condition 5h)

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36 Redemption Amount (including early redemption) :
Principal Amount
37 Maturity Date :
9 January 2033
38 Redemption for Taxation Reasons permitted on days Yes
other than Interest Payment Dates :
39 Amortisation Yield (Zero Coupon Notes):
Not Applicable
40 Terms of redemption at the option of the Issuer or
Not Applicable
description of any other Issuer's option (if applicable):
41 Issuer's Option Period (if applicable):
Not Applicable
42 Terms of redemption at the option of the Noteholders Not Applicable
or description of any other Noteholders' option (if
applicable):
43 Noteholders' Option Period (if applicable):
Not Applicable
44 Instalment Date(s) (if applicable):
Not Applicable
45 Instalment Amount(s) (if applicable):
Not Applicable
46 Unmatured Coupons to become void upon early
Yes
redemption :
47 Talons to be attached to Notes and, if applicable, the Not Applicable
number of Interest Payment Dates between the
maturity of each Talon (if applicable):
48 Additional Business Day Jurisdictions for Condition
Target Business Day
7(h) (jurisdictions required to be open for payment) :
49 Additional steps that may only be taken following
Not Applicable
approval by an Extraordinary Resolution in
accordance with Condition 11(a) (if applicable):
50 Redenomination, renominalisation and
Not Applicable
reconventioning provisions
51 Details of any other additions or variations to the
In Condition 3(b) - status of Subordinated
Conditions:
Notes, the first sentence is deleted and
replaced as follows:

"The Notes (for the avoidance of
doubt, excluding Coupons relating to
them) constitute direct, unconditional,
unsecured
and
subordinated
obligations of the Issuer and will rank
pari passu among themselves and pari
passu with all other present and future
unsecured,
unconditional
and
subordinated indebtedness of the
Issuer with the exception of the Prêts
Participatifs granted to, and Titres
Participatifs issued by the Issuer."
52 The Agents appointed in respect of the Notes are :
FISCAL AGENT AND PRINCIPAL AGENT

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Citibank, N.A.
5 Carmelite Street
London EC4Y 0PA
LUXEMBOURG LISTING AGENT
Banque Générale du Luxembourg
50 Avenue J.F. Kennedy
L-2951 Luxembourg

53 In the case of Notes listed on the Paris Stock

Exchange:

(a)
the number of Notes to be issued in each
Not Applicable
Denomination:

(c)
Paying Agent in France:
Not Applicable

(d)
address in Paris where documents to be made Not Applicable
available for inspection may be inspected:

(e)
list of such documents available for inspection: Not Applicable

(f)
specialist broker:
Not Applicable
54 Euroclear France to act as central depositary
No

Provisions applicable to Global Notes and Certificates
55 Notes to be represented on issue by :
Temporary Global Note
56 Applicable TEFRA exemption (if "C Rules" or
D Rules
"not applicable"):
57 Temporary Global Note exchangeable for Definitive
No
Notes (if yes):
58 Permanent Global Note exchangeable for Definitive No
Notes at the request of the holder (if yes):
59 Global Certificate exchangeable for definitive
Not Applicable
Registered Notes at the request of the holder (if yes):

Provisions relating only to the sale and listing of the Notes
60 Details of any additions or variations to the selling
The Selling Restrictions specified in the
restrictions (French selling restrictions):
Offering Circular in relation to the Republic
of France shall be replaced for the
purpose of the issue of the Notes as
follows:
Each of the Dealer and the Issuer haves
acknowledged that the Notes are being

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issued outside the Republic of France and
has represented and agreed that, in
connection with their initial distribution, (i) it
has not offered or sold, and will not offer or
sell, directly or indirectly, any Notes to the
public in the Republic of France and (i )
offers and sales of Notes will be made in
France in accordance with L.411-2 of the
Code monétaire et financier and Décret
no. 98-880 dated 1 October 1998 relating
to offers to a limited number of investors or
qualified
investors
("investisseurs
qualifies").

61 Listing:
Application has been made to list the
Notes on the Luxembourg Stock Exchange
62 Issue Price:
100.0.90 per cent. of the Principal Amount
of Tranche plus accrued interest at a rate
of 1.449863 per cent of the Principal
Amount of Tranche.
63 Dealer's Commission:
None
64 Method of issue of Notes:
Individual Dealer
65 The following Dealer(s) is subscribing the Notes:
CDC IXIS Capital Markets as Dealer has
procured the initial subscription of the
Notes.
66 The aggregate principal amount of Notes issued has Not Applicable
been translated into Euro at the rate of [·], producing
a sum of (for Notes not denominated in Euro):
67 Net Proceeds:
EUR 537,100164,000490.41
68 Use of Proceeds (if different from that stated in the
Not Applicable
Offering Circular):
69 Rule 144A eligible:
No
70 PORTAL Reference:
Not Applicable

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