Bond Factsheet
BNP 6.198% 03Dec2036 Corp (AUD)
BNP Paribas SA
Indicative
Full Lot
Bid Price 97.655
Change in Bid Price 0.183
Bid Yield (%) 6.734 %
Change in Bid Yield 0.028
Ask Price 97.910
Change in Ask Price 0.183
Ask Yield (%) 6.681 %
Change in Ask Yield 0.043
Indicative price as of 02 Oct 2026, 4:33pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
BNP Paribas SA
Guarantor
-
Announcement Date
26 Nov 2024
Issue Date
03 Dec 2024
Maturity Date
03 Dec 2036
Years to Maturity / Next Call
10.169 / 5.164
Modified Duration
7.229 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
6.198
Coupon Type
Variable
Annual Coupon Rate
6.198
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Tier 2
Reference Rate
Reset Date: 03 December 2031 and every quaterly thereafter
Reset Rate: ASX Australian Bank Bill Short Term Rates 3 Month Mid + Initial Margin (2.000%)
ISIN
AU3CB0316099
CUSIP
YT5173869
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
Recognition of Bail-in and Loss Absorption
(a) By its acquisition of the Debt Instruments, each Holder (which, for the purposes of this Condition 4.4, includes any current or future holder of a beneficial interest in the Debt Instruments) acknowledges, accepts, consents and agrees:
(i) to be bound by the effect of the exercise of the Bail-in or Loss Absorption Power by the Relevant Resolution Authority which may include and result in any of the following, or some combination thereof:
(A) the reduction of all, or a portion, of the Amounts Due;
(B) the conversion of all, or a portion, of the Amounts Due into shares, other securities or other obligations of the Issuer or another person (and the issue to the Holder of such shares, securities or obligations), including by means of an amendment, modification or variation of these Conditions, in which case the Holder agrees to accept in lieu of its rights under the Debt Instruments any such shares, other securities or other obligations of the Issuer or another person;
(C) the cancellation of the Debt Instruments; and/or
(D) the amendment or alteration of the maturity of the Debt Instruments or amendment of the amount of interest payable on the Debt Instruments, or the date on which the interest becomes payable, including by suspending payment for a temporary period;
(ii) that these Conditions are subject to, and may be varied, if necessary, to give effect to, the exercise of the Bail-in or Loss Absorption Power by the Relevant Resolution Authority.
Amounts Due are the amounts payable on redemption of a Debt Instrument, and any accrued and unpaid interest on a Debt Instruments that has not been previously cancelled or otherwise is no longer due;
Issuer Call
The Issuer may redeem the Notes in whole at the Early Redemption Amount on 3 December 2031, subject to prior permission of the Relevant Regulator.
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;
(b) the Issuer has given at least 30 days and no more than 45 days (or any other period specified in the Supplement) notice to the Registrar, the Holders, each other Agent and any stock exchange or other relevant authority on which the Debt Instruments are listed;
(c) in the case of Subordinated Notes, Condition 9.9 (“Conditions to redemption of Subordinated Notes prior to Maturity Date”) is met;
(d) in the case of Senior Non Preferred Notes, Condition 9.10 (“Conditions to redemption of Senior Non Preferred Notes prior to Maturity Date”) is met;
(e) in the case of Senior Preferred Notes, if “Prior permission of the Relevant Regulator” is specified as applicable in the applicable Supplement, Condition 9.11 (“Conditions to redemption of Senior Preferred Notes prior to Maturity Date”) is met; and
(f) any other relevant condition specified in the Supplement is satisfied.
Additional Note
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;
Optional Redemption of Notes upon the occurrence of a MREL/TLAC Disqualification Event
Upon the occurrence of a MREL/TLAC Disqualification Event in respect of a Series of Senior Non Preferred Notes, or if “MREL/TLAC Disqualification Event” is specified as applicable in the Supplement, in respect of a Series of Senior Preferred Notes or a Series of Subordinated Notes, the Issuer may, at any time, subject (x) in the case of Subordinated Notes, to Condition 9.9 (“Conditions to redemption of Subordinated Notes prior to Maturity Date”), at any time, subject to having given no less than seven (7) nor more than forty five (45) calendar days’ notice to the Holders in accordance with Condition 20 (“Notices”) (which notice shall be irrevocable), redeem all but not some only of the Notes then outstanding, at the Redemption Amount on the date specified in the notice of redemption, together, if applicable, with interest accrued to (but excluding) the date fixed for redemption.
“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.
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