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
29 Novembro 2021 - 2:21PM
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 29th, 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 22Didier
Leblanc - Investor Relations Officer -
Didier.leblanc@bnpparibas.com - Tel : +33 1 42 98 43 13Philippe
Regli - Investor Relations Officer - Philippe.regli@bnpparibas.com
- Tel : +33 1 43 16 94 89Lisa 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.
- BNPP Press Release - 29 november 2021
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