Bond Factsheet
BPCEGP 5.000% 08Mar2034 Corp (SGD)
BPCE SA
Indicative
Full Lot
Bid Price 102.200
Change in Bid Price 0.125
Bid Yield (%) 4.036 %
Change in Bid Yield 0.052
Ask Price 102.825
Change in Ask Price 0.050
Ask Yield (%) 3.768 %
Change in Ask Yield 0.020
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
BPCE SA
Guarantor
-
Announcement Date
27 Feb 2024
Issue Date
08 Mar 2024
Maturity Date
08 Mar 2034
Years to Maturity / Next Call
7.426 / 2.424
Modified Duration
6.174 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.000
Coupon Type
Variable
Annual Coupon Rate
5.000
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Tier 2
Reference Rate
Reset Date: 08 Mar 2029
Reset Rate: 5-year SORA OIS Rate + Margin (1.985%)
ISIN
FR001400OEH7
CUSIP
ZD3084724
Bond Currency
SGD
Total Issue Size
400,000,000
Min. Investment Quantity (Nominal)
SGD 250,000
Incremental Quantity (Nominal)
SGD 250,000
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ A+
Bond Credit Rating (S&P/ Fitch)
***/ BBB+
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
Statutory Write-Down or Conversion
Acknowledgement. Notwithstanding any other term of any Series of Notes or any other agreement, arrangement or understanding between the Issuer and the Noteholders, by its acquisition of the Notes, each Noteholder (which, for the purposes of this Condition 17 includes each holder of a beneficial interest in the Notes) acknowledges, accepts, consents and agrees:
(i) to be bound by the effect of the exercise of the Bail-In Power (as defined below) by the Relevant Resolution Authority, which may include and result in any of the following, or some combination thereof:
(1) the reduction of all, or a portion, of the Amounts Due (as defined below) on a permanent basis;
(2) 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 Noteholder of such shares, securities or obligations), including by means of an amendment, modification or variation of the terms of the Notes, in which case the Noteholder agrees to accept in lieu of its rights under the Notes any such shares, other securities or other obligations of the Issuer or another person;
(3) the cancellation of the Notes;
(4) the amendment or alteration of the maturity of the Notes or amendment of the amount of interest payable on the Notes, or the date on which the interest becomes payable, including by suspending payment for a temporary period; and
(ii) that the terms of the Notes are subject to, and may be varied, if necessary, to give effect to, the exercise of the Bail-In Power by the Relevant Resolution Authority.
Issuer Call
Optional Redemption Date: 08 Mar 2029
Additional Note
The Issuer may, at its option, redeem all (but not some only) of the outstanding Notes at their Early Redemption Amount (specified in the Final Terms), together with accrued interests (if any) upon the occurrence of a Capital Event, an MREL/TLAC Disqualification Event or a Tax Event (either a Withholding Tax Event, a Gross-Up Event or a Tax Deductibility Event (each as defined in the Base Prospectus)), in each case, subject to certain conditions being met, inter alia, regulatory permission if required (as further detailed in the Base Prospectus).
Where:
“Capital Event” means a change in the regulatory classification of the Subordinated Notes, that was not reasonably foreseeable at their Issue Date, as a result of which such Subordinated Notes would be fully excluded from Tier 2 Capital;
“MREL/TLAC Disqualification Event” means, that at any time all or part of the outstanding principal amount of the Notes does not fully qualify as MREL/TLAC-Eligible Instruments; except where such non-qualification was reasonably foreseeable at the Issue Date or is due to the remaining maturity of such Notes being less than any period prescribed by the Applicable MREL/TLAC Regulations.
“MREL/TLAC-Eligible Instrument” means an instrument (including, for the avoidance of doubt, own funds) of the Issuer that is eligible to be counted towards the MREL of the Issuer and that constitutes a TLAC-eligible instrument of the Issuer (within the meaning of the FSB TLAC Term Sheet), in each case, in accordance with Applicable MREL/TLAC Regulations;
“Relevant Regulator” means the European Central Bank and any successor or replacement thereto, or other authority including, but not limited to any resolution authority, having primary responsibility for the prudential oversight and supervision of the Issuer and/or the application of the Applicable Banking Regulation to the Issuer and the Groupe BPCE; and
“Tier 2 Capital” means capital which is treated by the Relevant Regulator as a constituent of tier 2 under Applicable Banking Regulations from time to time for the purposes of the Issuer.
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