BNP 4.500% Perpetual Corp (USD)

Bond Factsheet

BNP Paribas SA

Indicative

Full Lot

Bid Price

88.808

Change in Bid Price

remove 1.075

Bid Yield (%)

6.233 %

Change in Bid Yield

0.178

Ask Price

89.111

Change in Ask Price

remove 1.309

Ask Yield (%)

6.183 %

Change in Ask Yield

0.216

Indicative price as of 02 Oct 2026, 4:33pm

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Bond Information

BNP Paribas provides commercial, retail, investment, and private and corporate banking services. The Bank offers asset management and investment advisory services to institutions and individuals. BNP Paribas serves customers worldwide.

Bond Issuer

BNP Paribas SA

Guarantor

Announcement Date

18 Feb 2020

Issue Date

25 Feb 2020

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 3.394

Modified Duration

3.022 @ 02 Oct 2026

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.500

Coupon Type

Variable

Annual Coupon Rate

4.500

Coupon Frequency

Semi Annually

Seniority

Junior Subordinated

Capital Structure

Additional Tier 1

Reference Rate

Reset Date: 25 Feb 2030 and every 5 years thereafter
USD 5Y SWAP + 2.944%

ISIN

USF1R15XL274

CUSIP

BG1373698

Bond Currency

USD

Total Issue Size

1,750,000,000

Min. Investment Quantity (Nominal)

USD 200,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

High Yield Corporate

Bond Sector

Financials

Bond Sub Sector

Banks

Issuer Credit Rating (S&P/ Fitch)

***/ AA-

Bond Credit Rating (S&P/ Fitch)

***/ BBB

Shariah Compliant

Exchange Listed

Others

Bond Feature(s)

Loss Absorption

Additional Tier 1

Write-Down

If a Trigger Event occurs, the Issuer shall (i) immediately notify the Relevant Regulator of the occurrence of the Trigger Event (ii) give a Write-Down Notice to Noteholders (in accordance with Condition 16 (Notices)) and the Fiscal Agent and (iii) irrevocably (without the need for the consent of Noteholders) reduce on the Write-Down Date the then Prevailing Outstanding Amount of each Note by the relevant Write-Down Amount (such reduction being referred to as a "Write-Down", and "Written Down" being construed accordingly). Notwithstanding the foregoing, failure to give such notice shall not prevent the Issuer from effecting a Write-Down. Furthermore, if a notice of a Trigger Event has been given pursuant to this Condition 6.1, no notice of redemption may be given pursuant to Condition 7.2 (Optional Redemption from the First Call Date), Condition 7.3 (Optional Redemption upon the occurrence of a Capital Event) or Condition 7.4 (Optional Redemption upon the occurrence of a Tax Event) until such Trigger Event has been cured.

"Trigger Event" shall occur if, at any time, the Group CET1 Ratio is less than the Trigger Level;

"Trigger Level" means 5.125 per cent.;

Consequence of a Write-Down

A Trigger Event may occur on more than one occasion and the Notes may be Written Down on more than one occasion. For the avoidance of doubt, the principal amount of a Note may never be reduced to below one cent. Write-Down of all or part of the Prevailing Outstanding Amount shall not constitute a default in respect of the Notes or a breach of the Issuer's obligations or duties or a failure to perform by the Issuer in any manner whatsoever, and shall not entitle Noteholders to petition for the insolvency or dissolution of the Issuer.

Following a Write-Down of all or part of the Prevailing Outstanding Amount, Noteholders will be automatically deemed to waive irrevocably their rights to receive, and no longer have any rights against the Issuer with respect to, interest on and repayment of the Write-Down Amount (but without prejudice to their rights in respect of any reinstated principal amount following a Reinstatement).

Deferral Interest Payment

(i) Optional cancellation

The Issuer may elect at its full discretion to cancel (in whole or in part) the Interest Amount otherwise scheduled to be paid on an Interest Payment Date notwithstanding it has Distributable Items or the Maximum Distributable Amount is greater than zero. Interest Amounts on the Notes will be non-cumulative. Accordingly, if any Interest Amounts (or part thereof) is not paid in respect of the Notes as a result of any election of the Issuer to cancel such Interest Amount pursuant to this paragraph (i) or of the limitations on payment set out in paragraph (ii) below, then (x) the right of the Noteholders to receive the relevant Interest Amount (or part thereof) in respect of the relevant Interest Period will be extinguished and the Issuer will have no obligation to pay such Interest Amount (or part thereof) accrued for such Interest Period or to pay any interest thereon and (y) it shall not constitute an event of default in respect of the Notes or a breach of the Issuer's obligations or duties or a failure to perform by the Issuer in any manner whatsoever, and it shall not entitle Noteholders to petition for the insolvency or dissolution of the Issuer.

(ii) Mandatory cancellation

The Issuer will cancel the payment of an Interest Amount (in whole or, as the case may be, in part) if the Relevant Regulator notifies in writing the Issuer that, in accordance with the Relevant Rules, it has determined that the Interest Amount (in whole or in part) should be cancelled based on its assessment of the financial and solvency situation of the Issuer. In any case, the maximum Interest Amounts (including any additional amounts payable pursuant to Condition 9 (Taxation)) that may be payable (in whole or, as the case may be, in part) under the Notes will not exceed an amount that:

- when aggregated together with any interest payment or distributions which have been paid or made or which are required to be paid or made on other own funds items in the then current financial year (excluding any such interest payments on Tier 2 Capital instruments and/or which have already been provided for, by way of deduction, in the calculation of Distributable Items), is higher than the amount of Distributable Items (if any) then available to the Issuer; and

- when aggregated together with other distributions or payments of the kind referred to in Article L.511-41-1 A X of the French Code monétaire et financier (implementing Article 141(2) of the CRD IV), or in provisions of the Relevant Rules relating to other limitations on distributions or payments, as amended or replaced, would cause any Maximum Distributable Amount then applicable to be exceeded (to the extent the limitation in Article 141(3) of the CRD IV, or any other limitation related to the Maximum Distributable Amount in the CRD IV or the BRRD, is then applicable).

Issuer Call

The Issuer may (at its option but subject to Condition 7.8 (Conditions to Redemption and Purchase) below), subject to having given no less than thirty (30) nor more than forty-five (45) calendar days' prior notice to the Noteholders in accordance with Condition 16 (Notices) (which notice shall be irrevocable) and the Fiscal Agent, redeem the then outstanding Notes, on the relevant Optional Redemption Date in whole, but not in part, at their Original Principal Amount (provided that if at any time a Write-Down Notice has been given and/or the Notes have been Written Down pursuant to Condition 6.1 (Write-Down), the Issuer shall not be entitled to exercise its option under this Condition 7.2 until the principal amount of the Notes so Written Down has been fully reinstated pursuant to Condition 6.3 (Reinstatement)), together with all interest accrued to (but excluding) the relevant Optional Redemption Date (if any).

"First Call Date" means the Interest Payment Date falling on or about February 25, 2030;

Bondsupermart strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.

Coupon Dates	Coupon Receive	Principal Amount	Cash Flow

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