2018 Registration document and annual fi nancial report - BNP PARIBAS 487

6INFORMATION ON THE PARENT COMPANY FINANCIAL STATEMENTS 31 DECEMBER 2018

6

Notes to the parent company fi nancial statements

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 insuffi cient 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 defi ciency 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.

Characteristics of Undated Floating-Rate Subordinated notes:

Issue date Currency

Amount in original currency (in millions)

Interest rate 31 December 2018 31 December 2017

October 1985 EUR 305 TMO -0.25% 254 254

September 1986 USD 500 6-month Libor +0.075% 239 228

UNDATED FLOATING-RATE SUBORDINATED NOTES 493 482

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 is cumulative and becomes payable in full when the bank resumes dividend payments.

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 is cumulative and becomes payable in full when the bank resumes dividend payments. 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 specifi ed in the French act of 3 January 1983. The number of notes outstanding was 1,434,092 at 31 December 2018.

Note 4 FINANCING AND GUARANTEE AND SECURITIES COMMITMENTS

4.a FINANCING COMMITMENTS

In millions of euros, at 31 December 2018 31 December 2017

Credit institutions 80,610 51,607

Customers 225,125 205,793

Confi rmed letters of credit 102,446 96,027

Other commitments given to customers 122,679 109,766

FINANCING COMMITMENTS GIVEN 305,735 257,400

Credit institutions 98,537 73,172

Customers 47,615 42,511

FINANCING COMMITMENTS RECEIVED 146,152 115,683