2019 Universal registration document and annual financial report - BNP PARIBAS486
6 information on the Parent ComPany finanCial statements at 31 deCemBer 2019
6
Notes to the parent company financial statements
Issue date Currency
Amount in original
currency (in millions)
Coupon frequency Rate and term before first call date Rate after first call date
31 Dec. 2019
31 Dec. 2018
October 2005 EUR 1,000 annual 4.875% 6 years 4.875% 0 1,000
October 2005 USD 400 annual 6.25% 6 years 6.250% 356 349
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% 535 524
June 2007 USD 1,100 semi-annual 7.195% 30 years USD 3-month Libor +1.290% 980 960
December 2009 EUR 2 quarterly 3-month Euribor +3.750% 10 years 3-month Euribor +4.750% 0 2
December 2009 EUR 17 annual 7.028% 10 years 3-month Euribor +4.750% 0 17
December 2009 USD 70 quarterly USD 3-month Libor
+3.750% 10 years USD 3-month Libor +4.750% 0 61
December 2009 USD 0.5 annual 7.384% 10 years USD 3-month Libor +4.750% 0 1
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% 1,337 1,309
March 2016 USD 1,500 semi-annual 7.625% 5 years USD 5-year swap +6.314% 1,337 1,309
December 2016 USD 750 semi-annual 6.750% 5.25 years USD 5-year swap +4.916% 669 655
November 2017 USD 750 semi-annual 5.125% 10 years USD 5-year swap +2.838% 669 655
Aug. 2018 USD 750 semi-annual 7.000% 10 years USD 5-year swap +3.980% 669 655
March 2019 USD 1,500 semi-annual 6.625% 5 years USD 5-year swap +4.149% 1,337 0
July 2019 AUD 300 semi-annual 4.500% 5.5 years AUD 5-year swap +3.372% 188 0
UNDATED SUPER SUBORDINATED NOTES 8,977 8,397
The table below summarises the characteristics of these various issues:
BNP Paribas has the option of not paying interest due on these Undated Super Subordinated notes. Unpaid interest is not carried forward.
For 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 include 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 restored 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.
