Bond Factsheet
BNP 3.950% 15Apr2035 Corp (SGD)
BNP Paribas SA
Indicative
Full Lot
Bid Price 100.583
Change in Bid Price
-
Bid Yield (%) 3.760 %
Change in Bid Yield 0.012
Ask Price 101.133
Change in Ask Price
-
Ask Yield (%) 3.605 %
Change in Ask Yield
-
Indicative price as of 01 Oct 2026, 3:50pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
BNP Paribas SA
Guarantor
-
Announcement Date
08 Oct 2024
Issue Date
15 Oct 2024
Maturity Date
15 Apr 2035
Years to Maturity / Next Call
8.540 / 3.538
Modified Duration
7.077 @ 30 Sep 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
3.950
Coupon Type
Variable
Annual Coupon Rate
3.950
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Tier 2
Reference Rate
Reset Date: 15 Apr 2030
Reset Rate: 5-year SORA OIS + Initial Margin (1.320%)
ISIN
FR001400TA19
CUSIP
YU3700074
Bond Currency
SGD
Total Issue Size
550,000,000
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)
***/ AA-
Bond Credit Rating (S&P/ Fitch)
***/ A-
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
Recognition of Bail-in and Loss Absorption
By its acquisition of the Notes, each Noteholder (which, for the purposes of this Condition 15, includes any current or future 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 or Loss Absorption Power (as defined below) by the Relevant Resolution Authority (as defined below), 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 (as defined below);
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 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;
C. the cancellation of the Notes; and/or;
D. 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;
(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 or Loss Absorption Power by the Relevant Resolution Authority.
For these purposes, the "Amounts Due" are the amounts payable or (in the case of Physical Delivery Notes), the Entitlement to be delivered on redemption of a Note, and any accrued and unpaid interest on a Note 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 15 April 2030, subject to prior permission of the Relevant Regulator.
Issuer Clean-Up Call
If Issuer Clean-Up Call is specified in the applicable Final Terms, and if seventy-five per cent.(75%) or any higher percentage specified in the applicable Final Terms (the "Clean-Up Percentage") of the initial aggregate principal amount of the Notes (which for the avoidance of doubt includes any further notes issued subsequently and forming a single series with the Notes) have been redeemed or purchased and, in each case, cancelled, the Issuer may, at its option, redeem the Notes in whole (but not in part) at any time specified in the notice of redemption (in the case of Notes other than Senior Non Preferred Notes) or on the clean-up call option date specified in the applicable Final Terms (in the case of Senior Non Preferred Notes) at the Optional Redemption Amount (as defined in Condition 5(g) (Early Redemption and Optional Redemption Amount)), together with any accrued interest to (but excluding) the relevant the date fixed for redemption subject (x) to Condition 5(m) (Conditions to redemption or purchase of the Notes prior to the Maturity Date) and (y) to having given not less than thirty (30) nor more than forty-five (45) calendar days (the "Notice Period") prior notice to the Noteholders in accordance with Condition 11 (Notices) (which notice shall be irrevocable).
Additional Note
The Issuer may at any time redeem the Notes in whole at par, together with accrued interest upon the occurrence of a Capital Event (subject to Condition 5(m) to redemption, purchase or cancellation prior to Maturity Date)
"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 Notes, which change was not reasonably foreseeable by the Issuer as at the Issue Date of the Notes, it is likely that all or part of the aggregate outstanding nominal amount of the Notes will be excluded from the own funds of the Group or reclassified as a lower quality form of own funds of the Group.
Call option upon the occurrence of a MREL/TLAC Disqualification Event:
Upon the occurrence of a MREL/TLAC Disqualification Event the Issuer may, at any time, redeem all but not some only of the Notes then outstanding, at par on the date specified in the notice of redemption, together, if applicable, with interest accrued to (but excluding) the date fixed for redemption, subject to prior permission of the Relevant Regulator.
"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 Notes, which change was not reasonably foreseeable by the Issuer as at the Issue Date, 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
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