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Amundi — Capital/Financing Update 2021
Mar 8, 2021
1109_rns_2021-03-08_81a6abf5-3357-4fb0-8914-7e2f968f6f78.pdf
Capital/Financing Update
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PROHIBITION OF SALES TO UK RETAIL INVESTORS – The Securities are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom (UK). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (EUWA); (ii) a customer within the meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA. Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (the UK PRIIPs Regulation) for offering or selling the Securities or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the Securities or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
MiFID II Product Governance / Retail investors, professional investors and eligible counterparties target market – Solely for the purposes of the manufacturer's product approval process, the target market assessment in respect of the Securities, taking into account the five categories referred to in item 18 of the Guidelines published by ESMA has led to the conclusion that: (i) the target market for the Securities is eligible counterparties, professional clients and retail clients, each as defined in MiFID II; and (ii) all channels for distribution to eligible counterparties and professional clients are appropriate; and (iii) the following channels for distribution of the Securities to retail clients are appropriate - investment advice and portfolio management, and pure execution services, subject to the distributor's suitability and appropriateness obligations under MiFID II, as applicable.
Any person subsequently offering, selling or recommending the Securities (a distributor) should take into consideration the manufacturer's target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Securities (by either adopting or refining the manufacturer's target market assessment) and determining appropriate distribution channels.
UK MIFIR product governance / Retail investors, professional investors and eligible counterparties target market – Solely for the purposes of the manufacturer's product approval process, the target market assessment in respect of the Securities, taking into account the five categories referred to in item 18 of the Guidelines published by the ESMA on 5 February 2018 (in accordance with the FCA's policy statement entitled "Brexit our approach to EU non-legislative materials"), has led to the conclusion that: (i) the target market for the Securities is retail clients, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (EUWA), and eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook (COBS) and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA (UK MiFIR); and (ii) all channels for distribution to eligible counterparties and professional clients are appropriate; and (iii) the following channels for distribution of the Securities to retail clients are appropriate - investment advice and portfolio management and pure execution services, subject to the distributor's suitability and appropriateness obligations under COBS, as applicable.
Any person subsequently offering, selling or recommending the Securities (a distributor) should take into consideration the manufacturer's target market assessment; however, a distributor subject to the FCA Handbook Product Intervention and Product Governance Sourcebook (the UK MiFIR Product Governance Rules) is responsible for undertaking its own target market assessment in respect of the Securities (by either adopting or refining the manufacturer's target market assessment) and determining appropriate distribution channels, subject to the distributor's suitability and appropriateness obligations under COBS, as applicable.
FINAL TERMS DATED 4 MARCH 2021
Amundi
Legal Entity Identifier (LEI): 96950010FL2T1TJKR531
Express Aktienanleihe AXA 2021-2025 Anlageprodukt ohne Kapitalschutz
Issue of Euro 15,000,000 of Share Linked Certificates by Amundi under the Euro 10,000,000,000 Notes and Certificates Programme
The Base Prospectus referred to below (as supplemented by these Final Terms) has been prepared on the assumption that, other than as provided in sub-paragraph (ii) above, any offering of Certificates in any Member State of the European Economic Area (each a Relevant State) shall be made pursuant to an exemption from the requirement to publish a prospectus for offers of Certificates, in accordance with the Prospectus Regulation. Accordingly, any person offering or intending to offer Certificates may only do so:
- (i) in circumstances under which neither the Issuer nor any Dealer is under any obligation to publish a prospectus pursuant to article 3 of the Prospectus Regulation or a supplemental prospectus in accordance with article 23 of the Prospectus Regulation; or
- (ii) in a Non-Exempt Offer Jurisdiction as referred to in paragraph 32 of Part A below, provided that such person is one of the persons referred to in paragraph 32 of Part A below and that such offer is made during the Offer Period specified for such purpose in such same paragraph.
Neither the Issuer nor any Dealer has authorised or authorises the offering of any Certificates in any other circumstances.
The expression Prospectus Regulation means the Regulation (EU) 2017/1129 of the European Parliament and the Council dated 14 June 2017 as amended.
PART A- CONTRACTUAL TERMS
Terms used in these Final Terms shall have the meaning given to them in the chapter headed "Terms and Conditions of the Certificates" of the base prospectus dated 2 September 2020, the first supplement to the Base Prospectus dated 23 November 2020 and the second supplement to the Base Prospectus dated 3 March 2021, which together constitute a base prospectus (the Base Prospectus) as defined in the Regulation (EU) 2017/1129 of the European Parliament and the Council dated 14 June 2017 as amended (the Prospectus Regulation).
This document constitutes the Final Terms of the Certificates described herein for the purposes of the Prospectus Regulation and must be read in conjunction with the Base Prospectus, as supplemented, in order to obtain all the relevant information. Copies of the Base Prospectus, as supplemented, shall be published, in accordance with article 21 of the Prospectus Regulation and are available on the websites of (a) the AMF (www.amf-france.org) and (b) the Issuer (www.amundi.com). A summary of the issue is appended to these Final Terms and includes the information contained in the summary of the Base Prospectus and relevant information on the Final Terms.
-
- (i) Issuer: Amundi
-
- (i) Series N°: 19
| (ii) | Tranche N°: | 1 | |
|---|---|---|---|
| (iii) | Date on which the Certificates become fungible: |
Not Applicable | |
| 3. | Specified Currency: | Euro ("€") | |
| Replacement Currency: | U.S. dollar | ||
| 4. | Aggregate Nominal Amount: | 15,000,000 € | |
| 5. | Issue Price: | 100 per cent. of the Aggregate Nominal Amount | |
| 6. | (i) | Calculation Amount: | 1,000 € |
| 7. | (i) | Issue Date: | 12 March 2021 |
| (ii) | Trade Date: | 22 February 2021 | |
| (iii) | Interest Period Commencement Date: |
16 April 2021 | |
| 8. | Maturity Date: | 17 April 2025 | |
| 9. | Interest Basis: | Share Linked Coupon | |
| 10. | Coupon Switch Option: | Not Applicable | |
| 11. | Redemption/Payment Basis: | Share Linked Redemption | |
| 12. | Issuer/Holders redemption option: | Not Applicable | |
| 13. | Authorised Issue Dates: | 29 April 2020 | |
| 14. | Placement method: | Non-syndicated | |
| 15. | Hybrid Certificates: | Not Applicable | |
| 16. | Exercise of Certificates: | Not Applicable | |
| TERMS RELATING TO INTEREST (IF ANY) PAYABLE |
| 17. | Fixed Rate Certificates: | Not Applicable |
|---|---|---|
| 18. | Floating Rate Certificates and Rate Linked Certificates |
Not Applicable |
| 19. | Change of Interest Basis: | Not Applicable |
| 20. | Zero Coupon Certificates | Not Applicable |
| 21. | Underlying Reference Linked Interest Certificates other than Rate Linked Certificates |
Applicable |
(A) TERMS RELATING TO THE UNDERLYING REFERENCE
| (1) | Share Linked Interest Certificates |
Applicable |
|---|---|---|
| (i) | Type of Certificates: | Single Share Linked Interest Certificates |
| (ii) | Share Company: | AXA S.A. |
| (iii) | Share: | AXA S.A. |
| ISIN Code: FR0000120628 | ||
| (iv) | Exchange: | Euronext Paris |
| (v) | Related Exchange(s): | All Exchanges |
| (vi) | Party responsible for calculation of the Interest Amount: |
Calculation Agent |
| (vii) | Valuation Time: | In accordance with Section 1.1.VI of Part 3 |
| (viii) | Specified Maximum Days of Disruption: |
Eight |
| (ix) | Exchange Business Day: | Single Share Basis |
| (x) | Scheduled Trading Day: | Single Share Basis |
| (xi) | Additional Disruption Event: | Change in Law / Hedging Disruption / Increased Cost of Hedging apply |
| (xii) | Extraordinary Events: | Change in Listing/Listing Suspension apply |
| (xiii) | Correction Deadline: | within a Settlement Cycle following the original publication and before the relevant Interest Determination Date |
| (xiv) | Weighting for each Share comprised in the Basket: |
Not Applicable |
| (2) | Index Linked Interest Certificates |
Not Applicable |
| (3) | Fund Linked Interest Certificates |
Not Applicable |
| (4) | Inflation Linked Interest Certificates |
Not Applicable |
| (5) | Foreign Exchange Linked Interest Certificates |
Not Applicable |
| (6) | Commodity Linked Interest | Not Applicable | |
|---|---|---|---|
| Certificates |
(B) DETERMINATION OF THE INITIAL VALUE OF THE UNDERLYING REFERENCE:
| (i) | Initial Determination Date: | 16 April 2021 |
|---|---|---|
| • | Observation Dates in respect of the Initial Determination Date: |
16 April 2021 |
| (ii) | Initial Value: | Determined in accordance with Value Determination Terms set forth below |
| (iii) | Value Determination Terms for the Initial Value: |
Reference Value |
| (Section 2.2 of Part 3 of the |
(C) DETERMINATION OF THE FINAL VALUE OF THE UNDERLYING REFERENCE:
(i) Value Determination Terms for the Final Value on each Interest Determination Date: Reference Value
(Section 2.2 of Part 3 of the Conditions)
• Observation Date(s) in respect of each Interest Determination Date See table below
(D) DETERMINATION OF PERFORMANCE:
Conditions)
(i) Performance: Not Applicable (E) INTEREST TERMS:
I Fixed Coupon: Not Applicable II Participation Linked Interest: Not Applicable III Provisions relating to Barrier Conditional Interest: Applicable
| (1) Barrier Conditional Coupon: | Applicable | ||
|---|---|---|---|
| (i) | Performance Condition: | Not Applicable | |
| (ii) | Final Value Condition: | Applicable |
• The Coupon Amount is payable if the Final Value of the Underlying Reference on the relevant Interest Determination Date is:
greater than or equal to the Coupon Barrier
- Coupon Barrier: See table below
- Coupon Amount: Coupon Rate x Calculation Amount
- Coupon Rate: See table below
| Interest Determin ation Dates / Observati on Dates |
Coupon Rate |
Interest Payment Dates |
Coupon Barrier |
|---|---|---|---|
| 30 March 2022 |
12% | 19 April 2022 |
100% of the Initial Value |
| 29 March 2023 |
24% | 18 April 2023 |
100% of the Initial Value |
| 28 March 2024 |
36% | 17 April 2024 |
100% of the Initial Value |
| 1 April 2025 |
48% | 17 April 2025 |
90% of the Initial Value |
- Additional Barrier Conditional Coupon: Not Applicable
- (iii) Interest Determination Date(s): See table above
- (iv) Interest Payment Date(s): See table above
- (v) Business Day Convention: Following Business Day Convention
- (2) Memory Barrier Conditional Coupon: Not Applicable
- (3) Lock-In Barrier Conditional Coupon: Not Applicable
- (4) Memory Lock-In Barrier Conditional Coupon: Not Applicable
- (5) Single Final Barrier Conditional Coupon: Not Applicable
- (6) Single Final Memory Barrier Conditional Coupon: Not Applicable
- (7) Single Final Lock-In Barrier Conditional Coupon: Not Applicable
| (8) Single Final Memory Lock-In Barrier Conditional Coupon: |
Not Applicable | |
|---|---|---|
| (9) Single Final Double Barrier Conditional Coupon: |
Not Applicable | |
| TERMS RELATING TO REDEMPTION | ||
| 22. | Redemption at the Option of the Issuer | Not Applicable |
| 23. | Redemption at the Option of the Holders | Not Applicable |
| 24. | Final Redemption Amount on each Certificate |
Underlying Reference Linked Final Redemption Amount if no Automatic Early Redemption Event has occurred on the Automatic Early Redemption Determination Date. Physical Settlement Condition is applicable |
- Underlying Reference Linked Redemption Amount Certificates Applicable
(A) TERMS RELATING TO THE UNDERLYING REFERENCE
| (1) | Share Linked Redemption Amount: | Applicable | ||
|---|---|---|---|---|
| (i) | Type of Certificates: | Single Share Linked Certificates | ||
| (ii) | Share Company(ies): | AXA S.A. | ||
| (iii) | Share(s): | AXA S.A | ||
| ISIN Code : FR0000120628 | ||||
| (iv) | Exchange: | Euronext Paris | ||
| (v) | Related Exchanges: | All Exchanges | ||
| (vi) | Physical Settlement: | Applicable | ||
| - Physical Settlement Condition: is deemed to |
occur if the Final Value of the Underlying Reference is less than the Final Redemption Protection Value on the Final Redemption Amount Determination Date.
- Entitlement in relation to each Certificate:
• a number of deliverable shares (Number of Deliverable Shares) equal to the Calculation Amount divided by the Initial Value. The Number of Deliverable Shares will
| be rounded to the next lower integer number of Relevant Share |
|||||
|---|---|---|---|---|---|
| • and an amount in Euros (Fractional Share Amount) equal to the non deliverable fraction of the Calculation Amount multiplied by the Final Value |
|||||
| Certificates will not be aggregated for the purpose of physical settlement |
|||||
| - Relevant Share: AXA S.A. | |||||
| - Settlement Business Day: Maturity Date | |||||
| (vii) | Party responsible for calculation of the Redemption Amount: |
Calculation Agent | |||
| (viii) | Valuation Time: | In accordance with Section 1.1.VI of Part 3 | |||
| (ix) | Specified Maximum Days of Disruption: |
Eight | |||
| (x) | Exchange Business Day | Single Share Basis | |||
| (xi) | Scheduled Trading Day | Single Share Basis | |||
| (xii) | Additional Disruption Events: | Change in Law, Hedging Disruption and Increased Cost of Hedging apply |
|||
| (xiii) | Extraordinary Events | Change in Listing/Listing Suspension apply | |||
| (xiv) | Correction Deadline: | within a Settlement Cycle following the original publication and before the Maturity Date or, if applicable, before the Automatic Early Redemption Date |
|||
| (xv) | Weighting for each Share comprised in the Basket: |
Not Applicable | |||
| (2) | Index Linked Redemption Amount: | Not Applicable | |||
| (3) | Fund Linked Redemption Amount: | Not Applicable | |||
| (4) | Inflation Linked Redemption Amount: | Not Applicable | |||
| (5) | Foreign Exchange Rate Linked Redemption Amount: |
Not Applicable | |||
| (6) | Commodity Linked Redemption Amount: | Not Applicable | |||
| (7) | Dynamic Linked Redemption Certificates: | Not Applicable |
(B) TERMS RELATING TO FINAL REDEMPTION
DETERMINATION OF THE INITIAL VALUE OF THE UNDERLYING REFERENCE:
| (i) | Initial Determination Date: | 16 April 2021 | |||
|---|---|---|---|---|---|
| • | Observation Dates for Initial Determination Date(s): |
16 April 2021 | |||
| (ii) | Initial Value: | Determined in accordance with Value Determination Terms set forth below |
|||
(iii) Value Determination Terms for the Initial Value: Reference Value
(Section 2.2 of Part 3 of the Conditions)
DETERMINATION OF THE FINAL VALUE OF THE UNDERLYING REFERENCE:
(i) Value Determination Terms for the Final Value in respect of any Redemption Amount Determination Date: Reference Value
(Section 2.2 of Part 3 of the Conditions)
| • | Observation | Dates | for | any | 1 April 2025 |
|---|---|---|---|---|---|
| Redemption | Amount | ||||
| Determination Date: |
DETERMINATION OF THE PERFORMANCE:
- (i) Performance: Basic Performance (ii) Cap: Not Applicable
- (iii) Floor: Not Applicable
DETERMINATION OF THE FINAL REDEMPTION AMOUNT:
I Terms relating to Indexed Final Redemption Amount Not Applicable II Terms relating to Barrier Final Redemption Amount Applicable if no Automatic Early Redemption Event as described in 27 below has occurred (1) Barrier Final Redemption: Applicable (i) Performance Condition: Not Applicable (ii) Final Value Condition: Applicable
| • | The Final Redemption Amount shall be: |
||
|---|---|---|---|
| – if the Final Value of the Underlying Reference is: |
less than the Final Redemption Protection Value : |
||
| Number of Deliverable Shares + Fractional Share Amount |
|||
| – In all other cases: |
Calculation Amount x Redemption Rate | ||
| • | Final Redemption Protection Value: |
70 % of the Initial Value | |
| (iii) | Participation Rate: | Not Applicable | |
| (iv) | Redemption Rate: | 100 % | |
| (v) | Final Redemption Amount Determination Date: |
1 April 2025 | |
| (vi) | Business Day Convention: | Following Business Day Convention | |
| (2) | Barrier Final Redemption 2: | Not Applicable | |
| (3) | Amortizing Barrier Final Redemption: | Not Applicable | |
| (4) | Airbag Barrier Final Redemption: | Not Applicable | |
| (5) | Dual Barrier Final Redemption 1: | Not Applicable | |
| (6) | Dual Barrier Final Redemption 2: | Not Applicable | |
| (7) | Dual Barrier Final Redemption 3: | Not Applicable | |
| (8) | Twin Win Barrier Final Redemption: | Not Applicable | |
| 26. | Redemption Amount Switch Option | Not Applicable | |
| 27. | Automatic Early Redemption Event: | Applicable | |
| DETERMINATION OF THE INITIAL REFERENCE: |
VALUE OF THE UNDERLYING |
||
| (i) | Initial Determination Date: | 16 April 2021 | |
| • | Observation Dates for Initial Determination Date(s): |
16 April 2021 | |
| (ii) | Initial Value: | Determined in accordance with Value Determination Terms set forth below |
|
| (iii) | Value Determination Terms for the | Reference Value |
Initial Value:
(Section 2.2 of Part 3 of the Conditions)
DETERMINATION OF THE FINAL VALUE OF THE UNDERLYING REFERENCE:
(i) Final Value Determination Terms in respect of any Redemption Amount Determination Date: Reference Value
(Section 2.2 of Part 3 of the Conditions)
• Observation Dates in respect of any Redemption Amount Determination Date :
| Observation Dates in respect of any Redemption Amount Determination Date |
Automatic Early Redemption Dates |
|---|---|
| 30 March 2022 | 19 April 2022 |
| 29 March 2023 | 18 April 2023 |
| 28 March 2024 | 17 April 2024 |
DETERMINATION OF PERFORMANCE:
| (i) | Performance: | Not Applicable |
|---|---|---|
| (ii) | Cap: | Not Applicable |
| (iii) | Floor: | Not Applicable |
TERMS RELATING TO AUTOMATIC EARLY REDEMPTION:
| 1. | Automatic Early Redemption: | Applicable | ||
|---|---|---|---|---|
| (i) | Performance Condition: | Not Applicable | ||
| (ii) | Final Value Condition: | Applicable | ||
| • | An Automatic Early Redemption Event is deemed to have occurred if the Final Value of the Underlying Reference on any Automatic Early Redemption Determination Date is: |
greater than or equal to the Automatic Redemption Barrier Value |
||
| • | Automatic Redemption Barrier Value: |
100 % of the Initial Value | ||
| (iii) | Automatic Early Redemption Determination Dates: |
30 March 2022, 29 March 2023 and 28 March 2024 |
| (iv) | Automatic Amount: |
Early | Redemption | Automatic Early Redemption Rate x Calculation Amount |
|
|---|---|---|---|---|---|
| (v) | : | Automatic Early Redemption Rate | 100 % | ||
| (vi) | Automatic Dates: |
Early | Redemption | 19 April 2022, 18 April 2023 and 17 April 2024 |
|
| (vii) | Business Day Convention: | Following Business Day Convention | |||
| 2. | Target Automatic Early Redemption: | Not Applicable | |||
| GENERAL PROVISIONS APPLICABLE TO THE CERTIFICATES | |||||
| 28. | Form of the Certificates: | Dematerialised Bearer Certificates | |||
| 29. | Business Centre or other special provisions relating to Payment Dates: |
Not Applicable | |||
| 30. | Payment Business Day or other special provisions relating to Payment Business Days: |
Following Business Day Convention | |||
| 31. | Name and address of the Dealer: | Amundi Finance, 90 Boulevard Pasteur, 75015 Paris France |
|||
| 32. | Non-Exempt Offer: | Certificates may not be offered by the Dealer and BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse AG (BAWAG PSK) (collectively referred to, with the Dealer, as the Authorised Offerors) other than pursuant to article 1(4) of the Prospectus Regulation in Austria (Non Exempt Offer Jurisdiction) during the period from 15 March 2021 to 9 April 2021 (Offer Period). See also paragraph 6 of Part B below |
|||
| 33. | General Consent: | Not Applicable | |||
| 34. | Total commission and concession: | Maximum 2.30 per cent. per annum of the Aggregate Nominal Amount |
|||
| 35. | United States Tax Considerations | The Securities are not Specified Securities for purposes of Section 871(m) of the U.S. Internal Revenue Code of 1986 |
|||
| 36. | Prohibition Investors: |
of Sales |
to | EEA Retail |
Not Applicable |
RESPONSIBILITY
The Issuer hereby accepts responsibility for the information contained in these Final Terms.
Signed on behalf of the Issuer:
By: _________________________
Duly authorised
PART B– OTHER INFORMATION
1. ADMISSION TO TRADING
(i) Admission to Trading Not Applicable
2. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE OFFER
Save for any fees payable to the Authorised Offerors, no person involved in the offer of the Certificates has, as far as the Issuer is aware, any material interest in the offer. The Dealer, the Authorised Offerors and their affiliates have concluded, and may in the future conclude, financial and commercial transactions with, and may provide other services to, the Issuer during the normal course of business.
3. REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES
| (i) | Reasons for the offer: | The net proceeds will be used for the Issuer's general corporate purposes |
|---|---|---|
| (ii) | Estimated net proceeds: | Aggregate Nominal Amount of the Tranche |
| (iii) | Estimated Total Expenses: | There are no other expenses than those defined in A 34 above |
4. INFORMATION CONCERNING THE UNDERLYING REFERENCE – Underlying Reference Linked Certificates only
| The exercise price or the final reference price of the underlying: |
Not Applicable | |
|---|---|---|
| Details of past and future performance and volatility of AXA S.A. may be obtained, free of charge: |
On the relevant website : www.axa.com | |
| Where the Underlying is a security: | Applicable | |
| (a) the name of the issuer of the security: | AXA S.A. | |
| (b) the ISIN (International Security Identification Number) or other such security identification code: |
ISIN Code : FR0000120628 | |
| Where the Underlying is an index: | Not Applicable | |
| Where the Underlying is an interest rate, a description of the interest rate: |
Not Applicable | |
| 5. | OPERATIONAL INFORMATION | |
| ISIN Code: | FR00140026X8 | |
| Common Code: | 230776938 | |
| Any clearing system(s) other than Euroclear | Not Applicable |
France/Euroclear Bank SA/NV and
| Clearstream Banking S.A. and relevant identification number(s): |
||
|---|---|---|
| Delivery: | Delivery against payment | |
| Names and addresses of initial Paying Agent(s): |
CACEIS Corporate Trust, 1 - 3 place Valhubert, 75206 Paris Cedex 13, France |
|
| Names and addresses of additional Paying Agent(s) (if any): |
Not Applicable | |
| 6. | TERMS AND CONDITIONS OF THE OFFER | |
| Total amount of the securities offered to the public/admitted to trading: |
EUR 15,000,000 | |
| Offer Period | From 15 March 2021 to 9 April 2021 (the "Offer End Date"), (both dates included). The Issuer reserves the right to shorten or withdraw the Offer of the Certificates, at any time on or prior to the Offer End Date |
|
| Offer Price: | Certificates issued on 12 March 2021 will be entirely subscribed by the Dealer |
|
| Certificates will be then offered to the public on the secondary market during the Offer Period at an Offer Price equal to 1,000 € per Certificate |
||
| Conditions to which the offer is subject: | The offer of the Certificates is conditional upon their issue and on any additional conditions set out in the standard terms of business of the Authorised Offerors, notified to investors by such relevant Authorised Offeror. Between BAWAG PSK and its customers, the offer of the Certificates is further subject to conditions that may be agreed between them and/or specified in the arrangements in place between them |
|
| Description of application procedure (including the period during which the offer shall be open and possible changes): |
Applications for the Certificates by the public, within the limit of the number of available Certificates, will be made in accordance with BAWAG PSK's usual procedures |
|
| Description of option to reduce subscriptions and arrangements for refunding amounts paid in excess by subscribers: |
Not Applicable | |
| Details of the minimum and/or maximum subscription amounts (expressed either as a number of securities or total investment amount): |
Not Applicable |
| Details of method and time limits for payment and delivery of Certificates: |
The Certificates will be issued on the Issue Date against payment to the Issuer by the Dealer of the Aggregate Nominal Amount. Investors will be notified by the relevant Authorised Offeror of their allotments of Certificates and the settlement arrangements in respect thereof |
|
|---|---|---|
| Manner and date of publication of the results of the offer: |
Not Applicable | |
| Procedure for exercise of any pre-emption rights, negotiability of subscription rights and treatment of unexercised subscription rights: |
Not Applicable | |
| If the Certificates are being offered simultaneously in several countries, and if a tranche has been or is being reserved for certain prospective investors, specify which tranche: |
Not Applicable | |
| Procedure for notifying subscribers of their allotments and indication whether dealing may commence prior to notification: |
Investors will be notified of their allotments by BAWAG PSK. No dealing in the Certificates may take place prior to the Issue Date |
|
| Amount of all expenses and taxes charged to the subscriber or purchaser: |
Not Applicable | |
| Authorised Institution(s) in countries where the Certificates are being offered: |
Any Authorised Offeror which satisfies the conditions listed below "Conditions relating to Issuer's consent to use the Base Prospectus" |
|
| Conditions relating to Issuer's consent to use the Base Prospectus: |
The conditions to the Issuer's consent are that such consent (a) is only valid during the Offer Period and (b) only extends to the use of the Base Prospectus to make Non-exempt Offers of the relevant Tranche of Securities in Austria |
|
| 7. | PLACEMENT AND UNDERWRITING | |
| Name(s) and address(es) of entities with overall responsibility for coordinating the issue and the various parties and, to the extent |
The Dealer has appointed the following Authorised Offeror for the distribution of the Certificates in Austria: |
BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse AG Wiedner Gürtel 11
1100 Vienna, Austria
Not Applicable
Name and address of intermediaries acting as paying agents and depositary agents in each relevant country:
offered:
such information is known to the Issuer or the distributor, the relevant dealers in the countries where the Certificates are being
| Entities that have agreed to underwrite the Certificates on a firm commitment basis and those that have agreed to place the Certificates without a firm commitment or under "best efforts" arrangements. If the entire issue has not been underwritten, specify the proportion not underwritten. |
Amundi Finance |
|---|---|
| Overall amount of underwriting commission and of the placing commission: |
Maximum 0.76 per cent. per annum of the Aggregate Nominal Amount |
| Name(s) and address(es) of entities that have undertaken to act as authorised intermediaries on the secondary market, by providing bid/ask price liquidity and description of the main terms of their undertaking: |
Not Applicable |
| When the underwriting agreement has been or will be reached: |
12 March 2021 |
POST-ISSUANCE INFORMATION RELATING TO THE UNDERLYING
The Issuer will not provide any post-issuance information unless required by law or regulation.
ANNEX - SUMMARY
Section A – Introduction and Warnings
Warnings
This summary (the "Summary") should be read as an introduction to the base prospectus dated 2 September 2020 (the "Base Prospectus"), the first supplement to the Base Prospectus dated 23 November 2020, the second supplement to the Base Prospectus dated 3 March 2021 and the final terms (the "Final Terms") to which this is annexed. Any decision to invest in any Securities should be based on a consideration of the Base Prospectus as a whole, including any documents incorporated by reference thereto, any supplement from time to time and the Final Terms. An investor in the Securities could lose all or part of the invested capital. Where a claim relating to information contained in the Base Prospectus is brought before a court, the plaintiff may, under national law where the claim is brought, be required to bear the costs of translating the Base Prospectus and the Final Terms before the legal proceedings are initiated.
Civil liability attaches only to the Issuer solely on the basis of this Summary, including any translation of it, but only where the Summary is misleading, inaccurate or inconsistent when read together with the other parts of the Base Prospectus and the Final Terms or where it does not provide, when read together with the other parts of the Base Prospectus and the Final Terms, key information in order to aid investors when considering whether to invest in the Securities.
You are about to purchase a product that is not simple and may be difficult to understand.
Name and international securities identification number (ISIN) of the Securities
The Securities described in this Summary are Certificates Express Aktienanleihe AXA 2021-2025 Anlageprodukt ohne Kapitalschutz issued for 15,000,000 euros (the "Securities"). International Securities Identification Number ("ISIN") of the Securities is: FR00140026X8.
Identity and contact details of the Issuer
Amundi (the "Issuer"), 91-93 boulevard Pasteur, 75015 Paris, France (telephone number: +33 1 76 33 30 30). The legal entity identifier ("LEI") of the Issuer is 96950010FL2T1TJKR531.
Approval of the Base Prospectus
The Base Prospectus has been approved as a base prospectus by the Autorité des Marchés Financiers (the "AMF"), 17, place de la Bourse, 75082 Paris Cedex 02, France - Tel.: + 33 1 53 45 60 00, on 2 September 2020 under the approval number no. 20-433, the first supplement has been approved on 23 November 2020 under the approval no. 20-567 and the second supplement has been approved on 3 March 2021 under the approval no. 21-056.
Section B - Key information on the Issuer
Who is the Issuer of the Securities?
Domicile / legal form / LEI / law under which the Issuer operates / country of incorporation
The Issuer is a private company with limited liability (société anonyme) whose registered office is in France, 91-93 boulevard Pasteur, 75015 Paris, and subject to French law. The Issuer is a credit institution governed by all applicable legislative and regulatory provisions and its statutes. The Issuer's LEI is 96950010FL2T1TJKR531.
Principal activities
The Issuer's corporate purpose is to carry out with individuals and legal entities, both in France and abroad, for itself or for the account of third parties or jointly (i) operations determined by the authorization of a credit institution which has been issued by the French Autorité de contrôle prudentiel et de résolution; (ii) all related transactions within the meaning of the French monetary and financial code; (iii) the creation or acquisition of interests in all companies or other French or foreign entities, including all portfolio management companies, in all investment firms and credit institutions ; (iv) and more generally all operations related directly or indirectly to this object or likely to facilitate its accomplishment.
Major shareholders
The Issuer is 69.7% owned by Crédit Agricole group (including holdings of Crédit Agricole S.A., SACAM Développement and Crédit Agricole Immobilier), 29.4% by the public, 0.6% by employees of the Amundi group1 and 0.3% by treasury shares.
Identity of the Issuer's key managing directors
The chairman of the executive board of the Issuer is Xavier Musca and the chairman of the supervisory board is Yves Perrier.
Identity of the Issuer's statutory auditors
PricewaterhouseCoopers S.A. and ERNST & YOUNG et Autres are the auditors of the Issuer.
1 Employee ownership raised due to the capital increase reserved to employees on 17 November 2020. What is the key financial information regarding the Issuer?
Key financial information
| Income statement | ||||||
|---|---|---|---|---|---|---|
| 31 December 2019 |
31 December 2018 |
30 June 2020 |
30 June 2019 |
|||
| Net interest income (or equivalent) | -13 372 | -14 764 | -14 175 | -6 718 | ||
| Net fee and commission income | 2 663 276 | 2 605 765 | 1 280 939 | 1 299 112 | ||
| Net impairment loss on financial assets | 56 041 | -10 000 | -29 148 | 40 205 | ||
| Net trading income | 0 | 0 | 0 | 0 | ||
| Measure of financial performance used by the issuer in the financial statements such as operating profit |
1 259 393 | 1 123 236 | 552 222 | 616 288 | ||
| Net profit or loss (for consolidated financial statements net profit or loss attributable to equity holders of the parent) |
959 282 | 855 004 | 413 641 | 479 929 | ||
| Balance sheet | ||||||
| Value as outcome from the most recent Supervisory Review and Evaluation Process |
||||||
| Total assets | 31 December 2019 24 261 371 |
31 December 2018 20 937 188 |
30 June 2020 28 149 090 |
('SREP') N/A |
||
| Senior debt | 816 724 | 1 313 655 | 3 970 425 | N/A | ||
| Subordinated debt | 303 842 | 303 826 | 300 916 | N/A | ||
| Loans and receivables from customers (net) |
1 513 681 | 1 196 647 | 1 547 976 | N/A | ||
| Deposits from customers | 0 | 0 | 0 | N/A | ||
| Total equity | 8 900 292 | 8 528 230 | 9 250 408 | N/A | ||
| Non performing loans (based on net carrying amount)/Loans and receivables) |
0 | 0 | 0 | N/A | ||
| Common Equity Tier 1 capital (CET1) ratio or other relevant prudential capital adequacy ratio depending on the issuance |
15.88% | 13.16% | 17.8% | N/A | ||
| Total Capital Ratio | 18.43% | 15.90% | 20.3% | N/A | ||
| Leverage Ratio calculated under applicable regulatory framework |
8.82% | 8.13% | 8.48% | N/A |
Qualifications in the audit report
Statutory auditors' reports on the audited consolidated annual financial statements for the periods ended 31 December 2018 and 31 December 2019 do not contain any qualification.
What are the key risks that are specific to the Issuer?
- Risk associated with the asset management activity
- Operational risks
- Non-compliance with investment rules, failure to align management with (implicit or explicit) promises made to clients or decrease in fund liquidity could result in clients compensation, a penalty applied by the regulator or Ad hoc support measures
- Operational risks
- Incident resulting from the failure of an operational process or a human error could result in clients compensation or a penalty applied by the regulator
- Amundi is exposed to non-compliance, tax, regulatory and legal risks that could have a material adverse effect on its business, earnings and financial position
- A failure in Amundi's operational systems or infrastructure, including business continuity plans, could disrupt operations, and damage Amundi's reputation.
- Activity risks
- Business risk
- Changes in financial markets could significantly impact Amundi's AuM, net revenues and earnings
- Demand from Amundi's clients depends on factors that are beyond its control and have an overall impact on the asset management market
- Amundi relies to a large extent on third entities to distribute its products
- Management fee rates are subject to competitive and market pressure
- The failure to recruit and retain employees could lead to the loss of clients and may cause AuM, revenue and results of operations to decline
- Harm to Amundi's reputation could result in a decrease in its assets under management, its revenue, and its earnings
- The COVID-19 pandemic has negatively affected, and may continue to negatively affect, the business, operations and financial performance of Amundi.
- Extra-financial risk
- Business risk
Amundi is subject to extra-financial risks if it fails to meet the expectations of its various stakeholders regarding corporate social responsibility.
- Financial risk
- Credit risk
- Amundi is exposed to default risk on its investment portfolio as well as through guarantees given on funds
- Amundi is exposed to counterparty risk related to the use of derivatives
- Amundi is exposed to equity investment risk
- Amundi is exposed to concentration risk with respect to securities acquired by guaranteed funds.
- Market risk
- Changes in the value of assets held by Amundi could affect its results and its equity
- Amundi is exposed to fluctuations in foreign exchange rates
- Amundi is subject to real estate risks related to its structured notes activity.
| Section C - Key Information on the Securities | |
|---|---|
| What are the main features of the Securities? | |
| Type, class and ISIN |
The Securities are certificates ("Certificates") issued under Series number 19 and Tranche number 1.
The Securities are denominated in Euro ("€") and are payable in €. The Securities are Underlying Reference Linked Securities and bear interest from 16 April 2021 at the rate calculated by reference to the relevant share AXA S.A. (ISIN: FR0000120628) (the "Underlying Reference").
The Securities are issued in bearer dematerialised form. International Securities Identification Number (ISIN) of the Securities is FR00140026X8.
Ratings
Not applicable, the Securities are unrated. Amundi's long-term credit rating is A+, with a stable outlook (Fitch Ratings).
Currency, denomination, par value, the number of the Securities issued and the term of the Securities
The currency of the Securities is Euro ("€"). The Securities have a specified denomination of Euro 1,000. 15,000 Securities will be issued. The maturity date of the Securities is 17 April 2025 if no Automatic Early Redemption Event has occurred.
Rights attached to the Securities
Event of Default – There will be no event of default.
Taxation – All payments of principal, interest or other revenues under the Securities by the Issuer will be made without any withholding or deduction in respect of any tax, duty, assessment or governmental charge of any nature whatsoever imposed, levied or collected by or within any jurisdiction or any authority therein or thereof having power to tax, unless such withholding or deduction is required by law. The Issuer will not be obliged to make any increased payment to compensate for any such withholding or deduction.
Representative of Holders – The Holders of the Securities are not grouped in a Masse.
Governing law – French law.
Interest – The Securities are Underlying Reference Linked Securities and bear interest from 16 April 2021 at the rate calculated by reference to the relevant share AXA S.A. (ISIN: FR0000120628) (the "Underlying Reference").
Interest commencement date: 16 April 2021.
Interest payment date: Interest will be payable annually in arrears on the 19 April 2022, 18 April 2023, 17 April 2024 and 17 April 2025 in each year in cash. The first interest payment will occur on 19 April 2022.
The Interest Rate is calculated as specified below: Barrier Conditional Coupon = Coupon Amount.
− Coupon Amount
The Issuer will pay, on each Interest Payment Date, interest on the Certificates in an amount per Calculation Amount equal to the Coupon Amount on the relevant Interest Determination Date, as determined by the Calculation Agent. The Coupon Amount will be equal to :
- (a) Coupon Rate x Calculation Amount if the Final Value of the Underlying Reference on the relevant Interest Determination Date is greater than or equal to the Coupon Barrier
- (b) 0, otherwise
Where :
- − Coupon Barrier : indicated as such in the table below
- − Coupon Rate : means each rate shown as such in the table below
- − Final Value : means the value of the Underlying Reference on the relevant Interest Determination Date
- − Initial Value : means the value of the Underlying Reference on the Initial Determination Date
- − Initial Determination Date : 16 April 2021
- − Observation Date for Initial Determination Date: 16 April 2021
- − Interest Determination Dates/ Observation Dates in respect of any Interest Payment Date : indicated as such in the table below
| Interest Determination Dates /Observation Dates in respect of any Interest Payment Date |
Coupon Rate | Interest Payment Dates |
Coupon Barrier |
|---|---|---|---|
| 30 March 2022 | 12% | 19 April 2022 | 100% of the Initial Value |
| 29 March 2023 | 24% | 18 April 2023 | 100% of the Initial Value |
| 28 March 2024 | 36% | 17 April 2024 | 100% of the Initial Value |
| 1 April 2025 | 48% | 17 April 2025 | 90% of the Initial Value |
Redemption – Unless previously redeemed, purchased and cancelled, the Securities will be redeemed on 17 April 2025 (the "Maturity Date") and cash or physically settled. The Final Redemption Amount is calculated as follows: Barrier Final Redemption
If no Automatic Early Redemption Event as defined below has occurred, the Final Redemption Amount will be :
• If the Final Value of the Underlying Reference is less than the Final Redemption Protection Value :
Number of Deliverable Shares + Fractional Share Amount
- In all other cases :
- Calculation Amount x Redemption Rate
Where :
Number of Deliverable Shares : Calculation Amount / Initial Value. The Number of Deliverable Shares will be rounded to the next lower integer number of the Relevant Share.
Calculation Amount : 1,000 €
Fractional Share Amount : equal to the non-deliverable fraction of the Calculation Amount multiplied by the Final Value Final Redemption Protection Value : 70 % of the Initial Value
Redemption Rate : 100%
Observation Date in respect of the Final Redemption Amount Determination Date : 1 April 2025
Initial Value, Final Value, Initial Determination Date and Observation Date for Initial Determination Date are defined above.
Early Redemption: the Securities may be redeemed before their Maturity Date.
Early Redemption for tax reasons and illegality: the Securities may also be redeemed early for tax reasons and illegality at the Issuer's discretion at the Early Redemption Amount calculated in accordance with the Terms and Conditions.
If an Automatic Early Redemption Event specified in the Final Terms occurs on an Automatic Early Redemption Determination Date, each Security will be redeemed on such Automatic Early Redemption Date at its Automatic Early Redemption Amount, calculated as follows: Automatic Early Redemption Rate x Calculation Amount
Where:
- − Automatic Early Redemption Rate : 100%
- − Automatic Redemption Barrier Value : 100 % of the Initial Value
| Automatic Early Redemption | Automatic Early Redemption Dates | |
|---|---|---|
| Determination Dates | ||
| 30 March 2022 | 19 April 2022 | |
| 29 March 2023 | 18 April 2023 | |
| 28 March 2024 | 17 April 2024 |
Automatic Early Redemption Event means: an automatic early redemption event is deemed to have occurred if the Final Value of the Underlying Reference on any Automatic Early Redemption Determination Date is greater than or equal to the Automatic Redemption Barrier Value
Automatic Early Redemption Determination Date: as specified in the table above, subject to adjustment.
Automatic Early Redemption Date: as specified in the table above, subject to adjustment.
Physical Settlement: If a Physical Settlement Condition specified in the Final Terms is satisfied on the relevant determination date, each Security will be redeemed on the Maturity Date, by physical delivery of a certain quantity of the Underlying as specified in the applicable Final Terms.
Physical Settlement Condition: is deemed to occur if the Final Value of the Underlying Reference is less than the Final Redemption Protection Value on the Final Redemption Amount Determination Date.
- − Final Redemption Amount Determination Date : 1 April 2025
- − Final Redemption Protection Value : 70% of the Initial Value
- − Entitlement in relation to each Security: the proceeds are repaid in:
- o a number of deliverable shares (Number of Deliverable Shares) equal to the Calculation Amount divided by the Initial Value. The Number of Deliverable Shares will be rounded to the next lower integer number of the Relevant Share ;
- o and an amount in Euros (Fractional Share Amount) equal to the non-deliverable fraction of the Calculation Amount multiplied by the Final Value.
- Certificates will not be aggregated for the purpose of physical settlement.
- − Relevant Share: AXA S.A. (ISIN : FR0000120628)
- − Settlement Business Day: Maturity Date.
Seniority of the Securities
The Securities constitute direct, unconditional, unsecured and senior preferred (within the meaning of Article L.613-30-3–I-3° of the French Code monétaire et financier) obligations of the Issuer and rank equally amongst themselves and (subject to exceptions provided by law) equally with all unsecured and senior preferred indebtedness of the Issuer, present or future.
Restrictions on the free transferability of the Securities
Subject to certain restrictions relating to the offer, sale and delivery of Securities and to the distribution of offer documents in the United States, the European Economic Area, the United Kingdom, Austria, Germany, Spain, France, Italy, Belgium, the Czech Republic, the Netherlands, Poland, Ireland, Switzerland, Hong Kong, Japan, Singapore and Taiwan, there is no restriction on free transferability.
Where will the Securities be traded?
Admission to trading
The Securities are not admitted to trading.
What are the key risks that are specific to the Securities?
Most material risk factors specific to the Securities
There are risk factors which are material for the purpose of assessing the risks related to the Securities, including the following:
- Risks relating to the market of the Securities
Trading of Securities in any secondary market may be limited and Holders may not be able to easily dispose of their Securities or to dispose of them at a price that provides a return comparable to similar products for which an active market would have developed.
- Risks as the creditor of the Issuer
- Risks relating to the holding of securities in the event of a resolution procedure initiated at the level of the Crédit Agricole Group or any entity of the Crédit Agricole Group : if such a resolution procedure were to be implemented, the exercise of the powers provided for by the competent authority could result in (1) a partial or total depreciation of the Securities issued; (2) a partial or total conversion of the Securities into shares of the relevant Issuer resulting in an undesired holding of shares and a possible financial loss on the resale of such shares; (3) a modification of the contractual terms of the Securities which may modify, in particular, the financial and temporal elements of the Securities which may result, in particular, in coupon reductions or extension of maturity and adversely affect the value of such Securities.
- Return on the Securities may be limited or delayed by the insolvency of the Issuer: the commencement of insolvency proceedings against the Issuer would have a material adverse effect on the market value of Securities issued. Any decisions taken by the Assembly or a class of creditor, as the case may be, could substantially impact the Holders and even cause them to lose all or part of their investment, should they not be able to recover amounts due to them from the Issuer.
- Absence of gross-up provisions under the Securities: the Issuer shall not be obliged to make any increased payment to compensate for any such withholding or deduction relating to the Securities. As a result, Holders could lose part of their investment in the Securities.
- Risks relating to the structure of a particular issue of Securities
- The Securities are subject to automatic redemption upon the occurrence of an Automatic Early Redemption Event for their Automatic Early Redemption Amount. This may have an adverse effect on the value of the Securities and may lead to redemption at an amount or time less favourable for Holders, who may thus not receive the total amount of the capital invested.
- There are no events of default under the Certificates.
- Collective organisation of Holders: each Certificate constitutes a separate claim and does not form a Series. Holders of the Certificates are not grouped into a masse or collective body with a view to protecting their interests. As a consequence, their interests may not be well represented and protected, which could have an adverse effect on the market value of the Certificates and could result in the Holders of Certificates losing part of their investment in the Certificates.
- Risks relating to the relevant underlying of the Securities
- Certain Factors affecting the value and the trading price of the Securities (price or value of the Underlying Reference, volatility of the Underlying Reference, remaining time, ..) .As a result of all of these factors, any Holder who sells the Securities prior to the stated Maturity Date may receive an amount in the secondary market which may therefore be significantly less than the intrinsic market value of the Securities and which may also be less than the amount that the Noteholder would have received if the Holder had retained the Securities until the Maturity Date.
- Risk of capital loss for Securities for which the indexation of the payment and/or redemption amount is determined based on a calculation formula and indexed to the Underlying Reference. In the event of an unfavourable change in the price, value or level of the Underlying Reference, or in the event of the occurrence of an unfavourable change in the price, value or level of the Underlying Reference, or in the occurrence of or the absence of occurrence of an event affecting the Underlying Reference, the Holders may suffer a significantly decreased rate of return on the Securities or even no return whatsoever, could see the amounts of interest and repayment significantly negatively impacted and lose all or part of the capital initially invested.
- Risks relating to Share Linked Securities:
- An investment in Share Linked Securities may bear similar market risks to a direct equity investment. Holders are exposed to the risk that changes in the relevant price of the share may have an adverse effect on the amounts of interest, early redemption or final redemption, as well as on the value of the Share Linked Securities.
- The Securities may provide for physical delivery. The value of such Securities may be affected and/or their settlement may be delayed if delivery of the Share Amount is impracticable because a Settlement Disruption Event has occurred and is continuing on the Delivery Date.
- Risk factors relating to specific features :
- Barrier: the payment of interest/redemption amount will be conditional on the value or performance of the Underlying Reference as determined in accordance with the Conditions applicable to the relevant Determination Date, being greater than or equal to a specified barrier value and if such condition is not satisfied then the amount of interest due will be zero and the redemption amount may be less than par. As a result, Holders may lose all or part of their investment.
Section D - Key Information on the Offer of Securities and Admission to Trading on a Regulated Market
Are the Securities being offered to the public as part of a Non-Exempt Offer?
This issue of Securities is being offered in a Non-Exempt Offer in Austria.
Consent: Subject to the conditions set out below, the Issuer consents to the use of the Base Prospectus in connection with a Nonexempt Offer of Securities by the Dealers, Amundi Finance and BAWAG P.S.K Bank fûr Arbeit und Wirtschaft und Österreichische Postsparkasse AG ("BAWAG PSK") which are identified as Authorised Offerors in respect of the relevant Non-exempt Offer and authorised to make such offers under applicable legislation implementing the Markets in Financial Instruments Directive (Directive 2014/65/EU), as amended together, (the "Authorised Offerors").
Offer period: The Issuer's consent referred to above is given for Non-Exempt Offers of Securities during the period from 15 March 2021 until 9 April 2021 (the "Offer End Date"). The Issuer reserves the right to shorten or withdraw the offer of the Certificates at any time on or prior to the Offer End Date.
Conditions to consent: The Authorised Offerors must satisfy the following conditions: such consent is (a) only valid during the Offer Period, (b) only extends to the use of the Base Prospectus to make Non-Exempt Offers of the Securities in Austria.
An investor intending to purchase or purchasing any Securities in a Non-Exempt Offer from an Authorised Offeror will do so, and offers and sales of such Securities to an investor by such Authorised Offeror will be made, in accordance with the terms and conditions of the offer and other agreements in place between such Authorised Offeror and such investor including arrangements in relation to price, allocations, settlement arrangements and expenses to be charged to the Investor (the "Terms and Conditions of the Non-Exempt Offer"). The Issuer will not be a party to any such arrangements with such investors (other than Dealer) in connection with the Non-Exempt Offer or sale of the Securities concerned and, accordingly, the Base Prospectus and these Final Terms will not contain such information. The terms and conditions of the Non-Exempt Offer shall be provided to investors by that Authorised Offeror at the time of the Non-Exempt Offer. Neither the Issuer, nor any of the Authorised Offerors has any responsibility or liability for such information or the consequences of its use by the relevant investors.
Under which conditions and timetable can I invest in the Securities?
General terms, conditions, expected timetable of the offer and details of the admission to trading
The Securities are being offered as a Non-exempt Offer in Austria.
Offer jurisdictions: The Member States in which financial intermediaries may use the Base Prospectus in connection with such offer are as follows: Austria.
Offer period: The period from 15 March 2021 until 9 April 2021.
Offer price: Each Security will be offered for subscription at a price equal to 100% of the Specified Denomination of such Security, i.e. 1,000 €.
Conditions to which the offer is subject: The offer of the Securities is subject to their issuance.
Description of the application process : Applications for the Certificates by the public within the limit of the number of available Certificates will be made in accordance with the BAWAG PSK usual procedure.
Details of the minimum and/or maximum amount of application : Not Applicable
Manner in and date on which results of the Offer are to be made public: Not Applicable.
Estimate of the total expenses, including estimated expenses charged to the investor by the Issuer or the offeror
Estimate of the total expenses: The estimated charged to the investor by the Issuer or the relevant offeror amount to maximum 2.30% per annum of the Aggregate Nominal Amount.
Why is this Prospectus being produced?
Use and estimated net amount of the proceeds
The net proceeds from the issue of Securities will be used by the Issuer for its general financing requirements and hedging its obligations under the Securities.
Estimated net proceeds: 15,000,000 €.
Subscription agreement
The offer will be the subject of a subscription agreement between the Issuer and Amundi Finance.
Most material conflicts of interest pertaining to the offer or the admission to trading
Save for any fees payable to the Authorised Offerors, no person involved in the offer of the Certificates has, as far as the Issuer is aware, any material interest in the offer. The Dealer, the Authorised Offerors and their affiliates have concluded, and may in the future conclude, financial and commercial transactions with, and may provide other services to, the Issuer during the normal course of business.