Bond Factsheet
BNP 5.830% 23Aug2034 Corp (AUD)
BNP Paribas SA
Indicative
Full Lot
Bid Price 98.012
Change in Bid Price 0.034
Bid Yield (%) 6.597 %
Change in Bid Yield 0.014
Ask Price 98.301
Change in Ask Price 0.017
Ask Yield (%) 6.484 %
Change in Ask Yield 0.007
Indicative price as of 06 Oct 2026, 4:04pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
BNP Paribas SA
Guarantor
-
Announcement Date
14 Aug 2024
Issue Date
23 Aug 2024
Maturity Date
23 Aug 2034
Years to Maturity / Next Call
7.883 / 2.880
Modified Duration
6.125 @ 06 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.830
Coupon Type
Variable
Annual Coupon Rate
5.830
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Tier 2
Reference Rate
Reset Date: 23 Aug 2029 and every quarter thereafter
Reset Rate: 3 Months ASX Aus Bank Bill Short Term Rates+ Margin(2.150%)
ISIN
AU3CB0312460
CUSIP
YV1226559
Bond Currency
AUD
Total Issue Size
400,000,000
Min. Investment Quantity (Nominal)
AUD 200,000
Incremental Quantity (Nominal)
AUD 10,000
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ AA-
Bond Credit Rating (S&P/ Fitch)
***/ A-
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
MREL/TLAC Disqualification Event
See Condition 9.16 (“Substitution and variation of Subordinated Notes”) and Condition 9.17 (“Optional Redemption of Notes upon the occurrence of a MREL/TLAC Disqualification Event”). MREL/TLAC Disqualification Event means the determination by the Issuer, that as a result of a change in French and/or EU laws or regulations becoming effective on or after the Issue Date of the first Tranche of a Series of Notes, which change was not reasonably foreseeable by the Issuer as at the Issue Date of the first Tranche of the Series, it is likely that all or part of the aggregate outstanding nominal amount of such Series of Notes will be excluded from the eligible liabilities available to meet the MREL/TLAC Requirements (however called or defined by then applicable regulations) if the Issuer is then subject to such requirements, provided that a MREL/TLAC Disqualification Event shall not occur where such Series of Notes is excluded on the basis (1) that the remaining maturity of such Notes is less than any period prescribed by any applicable eligibility criteria under the MREL/TLAC Requirements, or (2) of any applicable limits on the amount of eligible liabilities permitted or allowed to meet the MREL/TLAC Requirements.
Recognition of Bail-in and Loss Absorption
Holders of Notes will, by their purchase or acquisition of Notes, pursuant to the Conditions acknowledge and agree that they will be contractually bound by, and be deemed to consent to the exercise of, any Bail in or Loss Absorption Power by the Relevant Resolution Authority, as set out in Condition 4.4 (“Recognition of Bail-in and Loss Absorption”).
Waiver of rights under section 11F of the Australian Banking Act
Each Holder has agreed to waive and otherwise not assert any rights that may arise under section 11F of the Banking Act and to the extent that it receives or recovers any payment or distribution of the assets of the Issuer as a result of the operation of section 11F of the Banking Act, it agrees to promptly pay over or deliver that payment or distribution to the Issuer or otherwise in accordance with the Conditions.
Capital Event
In case of a Capital Event, the Issuer may (but is not obliged to) redeem the Notes before the Maturity Date at par plus accrued interest, subject to the prior permission of the Relevant Regulator to the extent required at such date. See Condition 9.7 (“Early redemption of Subordinated Notes upon the occurrence of a Capital Event”).
Capital Event means the determination by the Issuer, that as a result of a change in the Relevant Rules becoming effective on or after the Issue Date of the first Tranche of the relevant Series of Subordinated Notes, which change was not reasonably foreseeable by the Issuer as at the Issue Date of the first Tranche of the relevant Series of Subordinated Notes, it is likely that all or part of the aggregate outstanding nominal amount of the Subordinated Notes will be excluded from the Own Funds of the Group or reclassified as a lower quality form of Own Funds of the Group
Issuer Call
Early Redemption Date (Call) 23 August 2029
Early redemption at the option of the Issuer (Clean-Up Call)
If the Supplement states that the Issuer may redeem all (but not some) of the Debt Instruments of a Series before their Maturity Date under this Condition 9.6, the Issuer may redeem so many of the Debt Instruments specified in the Supplement at the Redemption Amount and any interest accrued on it to (but excluding) the redemption date.
However, the Issuer may only do so if:
(a) if 75% or any higher percentage specified in the applicable Supplement (the “Clean-Up Percentage”) of the initial aggregate principal amount of the Debt Instruments (which for the avoidance of doubt includes any further notes issued subsequently and forming a single series with the Debt Instruments) have been redeemed or purchased and, in each case, cancelled;
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