2020 Universal registration document and annual financial report - BNP PARIBAS514
6 information on the Parent ComPany finanCial statements at 31 deCemBer 2020
6
Notes to the parent company financial statements
Issue date Currency
Amount in original
currency (millions)
Coupon frequency
Rate and term before first call date Rate after first call date 31 Dec. 2020 31 Dec. 2019
October 2005 USD 400 annual 6.25% 6 years 6.250% 0 356
July 2006 EUR 150 annual 5.45% 20 years 3-month Euribor +1.920% 150 150
June 2007 USD 600 quarterly 6.5% 5 years 6.500% 491 535
June 2007 USD 1,100 semi-annual 7.195% 30 years USD 3-month Libor +1.290% 901 980
June 2015 EUR 750 semi-annual 6.125% 7 years EUR 5-year swap +5.230% 750 750
August 2015 USD 1,500 semi-annual 7.375% 10 years USD 5-year swap +5.150% 1,229 1,337
March 2016 USD 1,500 semi-annual 7.625% 5 years USD 5-year swap +6.314% 1,229 1,337
December 2016 USD 750 semi-annual 6.750% 5.25 years USD 5-year swap +4.916% 614 669
November 2017 USD 750 semi-annual 5.125% 10 years USD 5-year swap +2.838% 614 669
August 2018 USD 750 semi-annual 7.000% 10 years USD 5-year swap 3.980% 614 669
March 2019 USD 1,500 semi-annual 6.625% 5 years USD 5-year swap +4.149% 1,229 1,337
July 2019 AUD 300 semi-annual 4.500% 5.5 years AUD 5-year swap +3.372% 189 188
February 2020 USD 1,750 semi-annual 4.500% 10 years US CMT 5 years +2.944% 1,433 0
UNDATED SUPER SUBORDINATED NOTES 9,443 8,977
The following table summarises the characteristics of these various issues:
Undated subordinated debt
Undated Super Subordinated Notes BNP Paribas has issued Undated Super Subordinated Notes which pay a fixed, fixed adjustable or floating rate coupon and are redeemable at the end of a fixed period and thereafter at each coupon date or every five years. If the notes are not redeemed at the end of this period, some of these issues will pay a coupon indexed to Euribor, Libor or a swap rate or a fixed-rate coupon.
On 25 March 2019, BNP Paribas SA issued Undated Super Subordinated notes in the amount of USD 1,500 million. This issue pays a fixed-rate coupon of 6.625%. These notes could be redeemed at the end of a period of 5 years. If the notes are not redeemed in 2024, a 5-year dollar swap rate coupon will be paid half-yearly.
On 10 July 2019, BNP Paribas SA issued Undated Super Subordinated notes in the amount of AUD 300 million. This issue pays a fixed-rate coupon of 4.5%. These notes could be redeemed at the end of a period of 5 years and a half. If the notes are not redeemed in 2025, a 5-year Australian dollar swap rate coupon will be paid half-yearly.
On 17 October 2019, BNP Paribas SA redeemed the October 2005 issue, for an amount of EUR 1,000 million. These notes paid a 4.875% fixed- rate coupon.
On 20 November 2019, BNP Paribas SA redeemed the December 2009 issue, for an amount of EUR 1 million before its first call date. These notes paid a 7.384% fixed-rate coupon.
On 29 December 2019, BNP Paribas SA redeemed two December 2009 issues at the first call date, for a respective amount of EUR 17 million and EUR 2 million. These notes paid respectively a 7.028% fixed-rate coupon and a 3-month Euribor rate coupon.
On 30 December 2019, BNP Paribas SA redeemed the December 2009 issue, for an amount of USD 70 million, at the first call date. These notes paid a USD 3-month Libor rate coupon.
On 25 February 2020, BNP Paribas SA issued Undated Super Subordinated notes in the amount of USD 1,750 million. This issue pays a fixed-rate coupon of 4.5%. These notes could be redeemed at the end of a period of 10 years. If not redeemed in 2030, a coupon will be paid semi-annually indexed to the rate of the US Treasury bill with a constant five-year maturity (CMT rate).
On 17 October 2020, BNP Paribas SA redeemed the October 2005, for an amount of USD 400 million. These notes paid a 6.25% fixed-rate coupon.
