BNP Paribas : BNP Paribas announces the redemption for regulatory reason of its two Undated Deeply Subordinated Notes issued on 13 July 2006 and 25 June 2007, losing their Tier 1 eligibility on 01 January 2022

Paris, on November 29^th, 2021

BNP Paribas announces the redemption for regulatory reason of its two Undated Deeply Subordinated Notes issued on 13 July 2006 and 25 June 2007, losing their Tier 1 eligibility on 01 January 2022

• The €150m Undated Super Subordinated Note issued on 13 July 2006 (ISIN: FR0010348565)*
  
  

And

• The USD1.1bn Undated Super Subordinated Note issued on 25 June 2007 (ISIN: US05565AAB98 –USF1058YHX97)*
  
  

BNP Paribas announces today the redemption for regulatory reason of its two undated deeply subordinated notes issued on 13 July 2006 (ISIN: FR0010348565) and on 25 June 2007 (ISIN: US05565AAB98 – USF1058YHX97), together the “Notes”.

The Notes will be redeemed in accordance with Condition 6.2(b)(i) (Redemption for Regulatory Reasons or Taxation Reasons) of their Terms and Conditions at a price equal to 100% of the Principal amount plus the amount of any interest accrued up to, and excluding, the Notes Redemption Date, on 3 January 2022.

In accordance with Articles 484 and 486 of Regulation (EU) no.575/2013 (as amended, the “CRR”), the Notes will lose, as from January 1, 2022, the benefit of the grandfathering clause which allowed for their recognition as Tier 1 capital.

On the Notes Redemption Date, the Notes Principal Amount will become due and payable and, in accordance with Condition 4(1) of their Terms and Conditions, each Note will cease to bear interest on that date.

Holders of the Notes will be formally notified of the implementation of the Notes Redemption in accordance with the Notes Terms and Conditions.

As of 30 September 2021, the nominal value of the € Notes was €150 million, and the nominal value of the USD Notes was $1.1 billion. The overall amount in regulatory capital were approximately €970m for these two notes.

In accordance with the applicable regulation, BNP Paribas has requested and obtained the prior permission of the European Central bank to redeem the Notes.

For more information about BNP Paribas, please visit its website: https://invest.bnpparibas/en/

DISCLAIMER

This press release does not constitute an offer to purchase, or the solicitation of an offer to sell, the Notes in the United States, Canada, Australia or Japan or in any other jurisdiction. The distribution of this press release in certain jurisdictions may be restricted by law. Persons into whose possession this press release comes are required to inform themselves of and observe any such restrictions.

No communication or information relating to the redemption of the Notes may be distributed to the public in any jurisdiction in which registration or approval is required. No action has been or will be taken in any jurisdiction where such action would be required. The redemption of the Notes may be subject to specific legal and regulatory restrictions in certain jurisdictions; BNP Paribas disclaims any liability for any violation by any person of such restrictions.

This press release is a communication for advertising purposes; and neither this press release nor any notice or other document made public and/or delivered, or which may be made public and/or delivered to holders of the Notes in connection with the redemption of the Notes is or is intended to be a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (as amended, the “Prospectus Regulation”). No prospectus will be published in connection with the redemption of the Notes for the purposes of the Prospectus Regulation.

This press release does not and shall not under any circumstances constitute an offer of the Notes to the public by BNP Paribas or a solicitation of the public in connection with any offer in any jurisdiction, including France.

*The ISIN number is included solely for the convenience of the holders of the Notes. No warranty is given as to the accuracy or correctness of the ISIN number as contained herein and a holder may rely only on the identification numbers, if any, printed on its own Note. Any redemption described herein shall not be affected by any defect in or omission of such numbers.”

Contacts

Claire Sineux - Debt Investor Relations Officer - claire.sineux@bnpparibas.com - Tel : +33 6 81 53 41 22
Didier Leblanc - Investor Relations Officer - Didier.leblanc@bnpparibas.com - Tel : +33 1 42 98 43 13
Philippe Regli - Investor Relations Officer - Philippe.regli@bnpparibas.com - Tel : +33 1 43 16 94 89
Lisa Bugat - Investor Relations Officer - Lisa.bugat@bnpparibas.com - Tel : +33 1 42 98 23 40

About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

Attachment

• BNPP Press Release - 29 november 2021