2020 Universal registration document and annual financial report - BNP PARIBAS 515

6information on the Parent ComPany finanCial statements at 31 deCemBer 2020

6

Notes to the parent company financial statements

Characteristics of Undated Floating-Rate Subordinated notes:

Issue date Currency Amount in original currency (in millions)

Interest rate 31 December 2020 31 December 2019

October 1985 EUR 305 TMO -0.25% 254 254

September 1986 USD 500 6-month Libor +0.075% 224 244

UNDATED FLOATING-RATE SUBORDINATED NOTES 478 498

Payment of interest is obligatory on the TSDIs issued in October 1985 (representing a nominal amount of EUR 305 million), but the Board of directors may postpone interest payments if the Ordinary Shareholders General Meeting notes that there is no income available for distribution in the twelve months preceding the interest payment date. Interest payments are cumulative and are payable in full once dividend payments resume.

Payment of interest is obligatory on the TSDIs issued in September 1986 (representing a nominal amount of USD 500 million), but the Board of directors may postpone interest payments if the Shareholders General Meeting approves a decision not to pay a dividend in the twelve months

preceding the interest payment date. Interest payments are cumulative and are payable in full once dividend payments resume. The bank may resume the payment of past interest even if dividend payments have not resumed.

Undated Participating Subordinated notes Undated participating subordinated notes issued by BNP Paribas SA in July 1984 in a total amount of EUR 337 million are redeemable only in the event of the liquidation of BNP Paribas SA, but may be retired on the terms specified in the French act of 3 January 1983. The number of shares in circulation was 1,434,092 at 31 December 2020.

Note 4 FINANCING, GUARANTEE AND SECURITIES COMMITMENTS

4.a FINANCING COMMITMENTS

In millions of euros, at 31 December 2020 31 December 2019

Credit institutions 71,560 96,003

Customers 290,826 234,757

Confirmed letters of credit 89,736 97,248

Other commitments given to customers 201,090 137,509

FINANCING COMMITMENTS GIVEN 362,386 330,760

Credit institutions 71,884 114,010

Customers 33,880 34,422

FINANCING COMMITMENTS RECEIVED 105,764 148,432

BNP Paribas has the option of not paying interest due on these Undated Super Subordinated Notes. Unpaid interest is not carried forward.

For the notes issued before 2015, this non-payment is subject to the absence of any payment on BNP Paribas SA ordinary shares or on Undated Super Subordinated note equivalents in the previous year. This interest must be paid when dividends are paid on BNP Paribas SA s ordinary shares.

The contracts relating to these Undated Super Subordinated Notes contain a loss absorption clause. Under the terms of this clause, in the event of insufficient regulatory capital, the nominal value of the notes

may be reduced in order to serve as a new basis for the calculation of the related coupons until the capital deficiency is made up and the nominal value of the notes is increased to its original amount.

Undated Floating-Rate Subordinated notes The Undated Floating-Rate Subordinated notes (TSDIs) and other Undated Subordinated notes issued by BNP Paribas SA are redeemable on liquidation of the Bank after repayment of all other debts but ahead of Undated Participating Subordinated notes. They confer no rights over residual assets.