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NOTICE TO THE NOTEHOLDERS
DATED 2 SEPTEMBER 2015
SG ISSUER
(the “Issuer”)
Issue of up to NOK 250 000 000 Notes due 25/10/2020
Unconditionally and irrevocably guaranteed by Société Générale
under the
Debt Instruments Issuance Programme
Series 76430EN/15.10 Tranche 1
Isin code : XS1236447352
(the “Notes”)
We refer to the Final Terms dated 27 August 2015 giving details of the Notes to be issued on 19
October 2015, as Series 76430EN/15.10, Tranche 1, pursuant to the Programme (the “Final Terms”).
This Notice should be read in conjunction with the Debt Issuance Programme Prospectus dated 28
October 2014 (the “Base Prospectus”). Terms and expressions defined in the Final Terms shall have
the same meanings when used herein except where the context requires otherwise or unless
otherwise stated.
The Final Terms have been modified as provided by amended and restated Final Terms attached
hereto as Annex.
The amended version of the Final Terms dated as of 27 August 2015 (the “Amended and Restated
Final Terms”) of the above referenced Series of Notes has been delivered to the Clearing System.
The Issuer accepts responsibility for the information contained in this Notice.
This notice together with the Amended and Restated Final Terms are available in electronic form on
the website of the Issuer (http://prospectus.socgen.com) and copies of these Amended and Restated
Final Terms are also available at the office of the Fiscal Agent (Societe Generale Bank & Trust, 11
avenue Emile Reuter, L-2420 Luxembourg).
THE AGENT
Société Générale Bank & Trust
11 avenue Emile Reuter
L-2420 Luxembourg
Annex
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
Amended and Restated as of 02 September 2015 (the intial date of these Final terms is 27 August 2015)
SG Issuer
Issue of up to NOK 250 000 000 Notes due 25/10/2020
Unconditionally and irrevocably guaranteed by Société Générale
under the
Debt Instruments Issuance Programme
PART A – CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth under the
heading "Terms and Conditions of the English Law Notes and the Uncertificated Notes" in the Base Prospectus
dated 28 October 2014, which constitutes a base prospectus for the purposes of the Prospectus Directive
(Directive 2003/71/EC) (the Prospectus Directive) as amended (which includes the amendment made by
Directive 2010/73/EU (the 2010 PD Amending Directive) to the extent that such amendments have been
implemented in a Member State). This document constitutes the Final Terms of the Notes described herein for
the purposes of Article 5.4 of the Prospectus Directive and Article 8.4 of the loi luxembourgeoise relative aux
prospectus pour valeurs mobilières as amended, and must be read in conjunction with the Base Prospectus
and the supplement(s) to such Base Prospectus dated 06/11/2014 and 19/11/2014 and 18/12/2014 and
23/01/2015 and 26/02/2015 and 19/03/2015 and 09/06/2015 and 26/06/2015 and 19/08/2015 and 21/08/2015
and any other supplement published prior to the Issue Date (as defined below) (the Supplement(s)); provided,
however, that to the extent such Supplement (i) is published after these Final Terms have been signed or
issued and (ii) provides for any change to the Conditions as set out under the heading “Terms and Conditions of
the English Law Notes and the Uncertificated Notes” , such change shall have no effect with respect to the
Conditions of the Notes to which these Final Terms relate. Full information on the Issuer, the Guarantor, if any,
and the offer of the Notes is only available on the basis of the combination of these Final Terms, the Base
Prospectus and any Supplement(s). Prior to acquiring an interest in the Notes described herein, prospective
investors should read and understand the information provided in the Base Prospectus and any Supplement(s)
and be aware of the restrictions applicable to the offer and sale of such Notes in the United States or to, or for
the account or benefit of, U.S. Persons. In the case of Notes offered to the public or admitted to trading on a
Regulated Market in the European Economic Area, a summary of the issue of the Notes (which comprise s the
summary in the Base Prospectus as amended to reflect the provisions of these Final Terms) is annexed to
these Final Terms. Copies of the Base Prospectus, any Supplement(s) and these Final Terms are available for
inspection from the head office of the Issuer, the Guarantor (if applicable), the specified offices of the Paying
Agents and, in the case of Notes admitted to trading on the Regulated Market of the Luxembourg Stock
Exchange, on the website of the Luxembourg Stock Exchange (www.bourse.lu) and, in the case of Notes
offered to the public or admitted to trading on a Regulated Market in the European Economic Area, on the
website of the Issuer (http://prospectus.socgen.com).
1.
(i)
Series Number:
76430EN/15.10
(ii)
Tranche Number:
1
(iii)
Date on which the Notes
become fungible:
Not Applicable
2.
Specified Currency:
NOK
3.
Aggregate Nominal Amount:
(i)
- Tranche:
Up to NOK 250 000 000
(ii)
- Series:
Up to NOK 250 000 000
4.
Issue Price:
100% of the Aggregate Nominal Amount
5.
Specified Denomination:
NOK 10 000
Issue Date:
(DD/MM/YYYY)
19/10/2015
Interest Commencement
Date:
Issue Date
6.
(i)
(ii)
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Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
Supprimé: Dated
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
7.
Maturity Date:
(DD/MM/YYYY)
25/10/2020
Governing law:
English law
(i)
Status of the Notes:
Unsecured
(ii)
Date of corporate
authorisation obtained for
the issuance of Notes:
Not Applicable
8.
9.
(iii)
Type of Structured Notes:
Share Linked Notes
The provisions of the following Additional Terms and
Conditions apply:
Additional Terms and Conditions for Share Linked Notes
(iv)
Reference of the Product:
3.3.4 with Option 1 applicable as described in the
Additional Terms and Conditions relating to Formulae
10.
Interest Basis:
See section “PROVISIONS RELATING TO INTEREST
(IF ANY) PAYABLE” below.
11.
Redemption/Payment Basis:
See
section
“PROVISIONS
REDEMPTION” below.
RELATING
TO
12.
Issuer’s/Noteholders’
redemption option:
See
section
“PROVISIONS
REDEMPTION” below.
RELATING
TO
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
13.
Fixed Rate Note Provisions:
(i)
Rate(s) of Interest:
(ii)
Specified Period(s) /
Interest Payment Date(s):
(DD/MM/YYYY)
Applicable as per Condition 3.1 of the General Terms
and Conditions
Indicatively 0.8% payable in arrear with a minimum of
0.6%. Final Rate(s) of Interest will be confirmed at the
latest on Valuation Date(0).
i
Interest Payment Date(i)
1
25/11/2015
2
25/12/2015
3
25/01/2016
4
25/02/2016
5
25/03/2016
6
25/04/2016
7
25/05/2016
8
25/06/2016
9
25/07/2016
10
25/08/2016
11
25/09/2016
12
25/10/2016
13
25/11/2016
14
25/12/2016
15
25/01/2017
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APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
(iii)
Business Day Convention:
16
25/02/2017
17
25/03/2017
18
25/04/2017
19
25/05/2017
20
25/06/2017
21
25/07/2017
22
25/08/2017
23
25/09/2017
24
25/10/2017
25
25/11/2017
26
25/12/2017
27
25/01/2018
28
25/02/2018
29
25/03/2018
30
25/04/2018
31
25/05/2018
32
25/06/2018
33
25/07/2018
34
25/08/2018
35
25/09/2018
36
25/10/2018
37
25/11/2018
38
25/12/2018
39
25/01/2019
40
25/02/2019
41
25/03/2019
42
25/04/2019
43
25/05/2019
44
25/06/2019
45
25/07/2019
46
25/08/2019
47
25/09/2019
48
25/10/2019
49
25/11/2019
50
25/12/2019
51
25/01/2020
52
25/02/2020
53
25/03/2020
54
25/04/2020
55
25/05/2020
56
25/06/2020
57
25/07/2020
58
25/08/2020
59
25/09/2020
60
25/10/2020
Following Business Day Convention (unadjusted)
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APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
(iv)
Fixed Coupon Amount:
Unless previously redeemed, on each Interest Payment
Date, the Issuer shall pay to the Noteholders, for each
Note, an amount determined by the Calculation Agent as
follows:
Rate of Interest x Specified Denomination
(v)
Day Count Fraction:
Not Applicable
(vi)
Broken Amount(s):
In case of a long or short Interest Period (with regard to
paragraph 13(ii) “Specified Period(s)/Interest Payment
Date(s)" above), the amount of interest will be calculated
in accordance with the formula specified in paragraph
13(iv) “Fixed Coupon Amount” above.
(vii)
Determination Date(s):
Not Applicable
14.
15.
16.
Floating Rate Note
Provisions:
Not Applicable
Structured Interest Note
Provisions:
Not Applicable
Zero Coupon Note
Provisions:
Not Applicable
PROVISIONS RELATING TO REDEMPTION
17.
18.
19.
(i)
Redemption at the option of
the Issuer:
Not Applicable
Redemption at the option of
the Noteholders:
Not Applicable
Automatic Early
Redemption:
Applicable as per Condition 5.10 of the General Terms
and Conditions
Automatic Early Redemption
Amount(s):
Unless previously redeemed, if an Automatic Early
Redemption Event has occurred, then the Issuer shall
redeem early the Notes on Automatic Early Redemption
Date(i) (i from 12 to 59) in accordance with the following
provisions in respect of each Note:
Automatic Early Redemption Amount(i) = Specified
Denomination x 100%
Definitions relating to the Automatic Early Redemption
Amount are set out in paragraph 27(ii) ”Definitions
relating to the Product”.
(ii)
Automatic Early
Redemption Date(s):
(DD/MM/YYYY)
i
Automatic Early
Redemption Date(i)
12
25/10/2016
13
25/11/2016
14
25/12/2016
15
25/01/2017
16
25/02/2017
17
25/03/2017
18
25/04/2017
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APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
20.
Final Redemption Amount:
19
25/05/2017
20
25/06/2017
21
25/07/2017
22
25/08/2017
23
25/09/2017
24
25/10/2017
25
25/11/2017
26
25/12/2017
27
25/01/2018
28
25/02/2018
29
25/03/2018
30
25/04/2018
31
25/05/2018
32
25/06/2018
33
25/07/2018
34
25/08/2018
35
25/09/2018
36
25/10/2018
37
25/11/2018
38
25/12/2018
39
25/01/2019
40
25/02/2019
41
25/03/2019
42
25/04/2019
43
25/05/2019
44
25/06/2019
45
25/07/2019
46
25/08/2019
47
25/09/2019
48
25/10/2019
49
25/11/2019
50
25/12/2019
51
25/01/2020
52
25/02/2020
53
25/03/2020
54
25/04/2020
55
25/05/2020
56
25/06/2020
57
25/07/2020
58
25/08/2020
59
25/09/2020
Unless previously redeemed, the Issuer shall redeem
the Notes on the Maturity Date, in accordance with the
following provisions in respect of each Note:
Scenario 1:
If on Valuation Date(60), WorstPerformance(60) is
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Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
higher than or equal to -50%, then:
Final Redemption Amount = Specified Denomination x
100%
Scenario 2:
If on Valuation Date(60), WorstPerformance(60) is lower
than -50%, then:
Final Redemption Amount = Specified Denomination x
[100% + WorstPerformance(60)]
Definitions relating to the Final Redemption Amount are
set out in paragraph 27(ii) “Definitions relating to the
Product”.
21.
22.
23.
24.
25.
Physical Delivery Note
Provisions:
Not Applicable
Credit Linked Notes
Provisions:
Not Applicable
Bond Linked Notes
Provisions:
Not Applicable
Trigger redemption at the
option of the Issuer:
Applicable as per Condition 5.6 of the General Terms
and Conditions
- Outstanding Amount
Trigger Level:
10% of the Aggregate Nominal Amount
Early Redemption Amount
payable on Event of Default
or, at the option of the
Issuer, on redemption for
taxation or regulatory
reasons:
Market Value
PROVISIONS APPLICABLE TO THE UNDERLYING(S) IF ANY
26.
(i)
Underlying(s):
k Company
1
The following Shares (each an "Underlying(k)" and
together the "Basket") as defined below:
Bloomberg Ticker
Exchange
Website
Staples Inc
SPLS UW
NASDAQ STOCK
EXCHANGE
www.staples.com
Apple Inc
AAPL UW
NASDAQ GLOBAL
SELECT
TEMP_MARKET
www.apple.com
Tesla Motors Inc
TSLA UW
NASDAQ GLOBAL
SELECT
TEMP_MARKET
www.teslamotors.com
AAL UW
NASDAQ GLOBAL
SELECT
TEMP_MARKET
www.aa.com
2
3
American Airlines Group
4 Inc
(ii)
Information relating to the
past and future
performances of the
Underlying(s) and volatility:
The information relating to the past and future
performances of the Underlying(s) and volatility are
available on the website, or Reuters or Bloomberg, as
the case may be, specified in the table above and the
volatility can be obtained, upon request, at the specified
office of Société Générale (see in address and contact
details of Société Générale for all administrative
communications relating to the Notes), at the office of
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Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
the Agent in Luxembourg and at the office of the
Principal Swiss Paying Agent in Switzerland if any.
(iii)
Provisions relating, amongst
others, to the Market
Disruption Event(s) and/or
Extraordinary Event(s) and/or
Monetisation until the Maturity
Date and/or any additional
disruption event(s) as
described in the relevant
The provisions of the following Additional Terms and
Additional Terms and
Conditions apply:
Conditions for Structured
Additional Terms and Conditions for Share Linked Notes
Notes:
(iv)
Other information relating
to the Underlying(s):
Information or summaries of information included herein
with respect to the Underlying(s), has been extracted
from general databases released publicly or by any other
available information.
Each of the Issuer and the Guarantor confirms that such
information has been accurately reproduced and that, so
far as it is aware and is able to ascertain from
information published, no facts have been omitted which
would render the reproduced information inaccurate or
misleading.
DEFINITIONS APPLICABLE TO INTEREST (IF ANY), REDEMPTION AND THE UNDERLYING(S) IF ANY
27.
(i)
Definitions relating to
date(s):
Applicable
Valuation Date(0):
(DD/MM/YYYY)
09/10/2015
Valuation Date(i);
(i from 1 to 60)
(DD/MM/YYYY)
i
Valuation Date(i)
1
09/11/2015
2
09/12/2015
3
09/01/2016
4
09/02/2016
5
09/03/2016
6
09/04/2016
7
09/05/2016
8
09/06/2016
9
09/07/2016
10
09/08/2016
11
09/09/2016
12
09/10/2016
13
09/11/2016
14
09/12/2016
15
09/01/2017
16
09/02/2017
17
09/03/2017
18
09/04/2017
19
09/05/2017
20
09/06/2017
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APPLICABLE FINAL TERMS
AMENDED AND RESTATED
(ii)
Definitions relating to the
Product:
WorstPerformance(i)
(i from 12 to 60)
21
09/07/2017
22
09/08/2017
23
09/09/2017
24
09/10/2017
25
09/11/2017
26
09/12/2017
27
09/01/2018
28
09/02/2018
29
09/03/2018
30
09/04/2018
31
09/05/2018
32
09/06/2018
33
09/07/2018
34
09/08/2018
35
09/09/2018
36
09/10/2018
37
09/11/2018
38
09/12/2018
39
09/01/2019
40
09/02/2019
41
09/03/2019
42
09/04/2019
43
09/05/2019
44
09/06/2019
45
09/07/2019
46
09/08/2019
47
09/09/2019
48
09/10/2019
49
09/11/2019
50
09/12/2019
51
09/01/2020
52
09/02/2020
53
09/03/2020
54
09/04/2020
55
09/05/2020
56
09/06/2020
57
09/07/2020
58
09/08/2020
59
09/09/2020
60
09/10/2020
Applicable, subject to the provisions of the Additional
Terms and Conditions relating to Formulae
means the Minimum, for k from 1 to 4, of Performance(i,
k), as defined in Condition 4.6 of the Additional Terms
and Conditions relating to Formulae.
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APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
Performance(i,k)
(i from 12 to 60)
(k from 1 to 4)
means (S(i, k) / S(0, k)) - 100%, as defined in Condition
4.1 of the Additional Terms and Conditions relating to
Formulae.
S(i,k)
(i from 12 to 60 or i=0)
(k from 1 to 4)
means in respect of any Valuation Date(i) the Closing
Price of the Underlying(k), as defined in Condition 4.0 of
the Additional Terms and Conditions relating to
Formulae
Automatic Early Redemption Event
is deemed to have occurred, as determined by the
Calculation Agent, if on a Valuation Date(i) (i from 12 to
59), WorstPerformance(i) is higher than or equal to 0%
PROVISIONS RELATING TO SECURED NOTES
28.
Secured Notes Provisions:
Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
29.
Provisions applicable to
payment date(s):
30.
- Payment Business Day:
Following Payment Business Day
- Financial Centre(s):
Oslo
Form of the Notes:
(i)
Form:
(ii)
New Global Note (NGN –
bearer notes) / New
Safekeeping Structure
(NSS – registered notes):
Non-US Registered Global Note registered in the name
of a nominee for a common depositary for Euroclear and
Clearstream, Luxembourg
No
31.
Redenomination:
Applicable as per Condition 1 of the General Terms and
Conditions
32.
Consolidation:
Applicable as per Condition 14.2 of the General Terms
and Conditions
33.
Partly Paid Notes
Provisions:
Not Applicable
Instalment Notes
Provisions:
Not Applicable
35.
Masse:
Not Applicable
36.
Dual Currency Note
Provisions:
Not Applicable
Additional Amount
Provisions for Italian
Certificates:
Not Applicable
Interest Amount and/or the
Redemption Amount switch
at the option of the Issuer:
Not Applicable
34.
37.
38.
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APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
PART B – OTHER INFORMATION
1.
LISTING AND ADMISSION TO TRADING
(i)
Listing:
Application will be made for the Notes to be listed on the official
list of the Luxembourg Stock Exchange.
(ii)
Admission to
trading:
Application will be made for the Notes to be admitted to trading
on the Regulated Market of the Luxembourg Stock Exchange
with effect from or as soon as practicable after the Issue Date.
There can be no assurance that the listing and trading of
the Notes will be approved with effect on the Issue Date or
at all.
(iii)
(iv)
2.
Estimate of total
expenses related to
admission to
trading:
Not Applicable
Information required
for Notes to be
listed on SIX Swiss
Exchange:
Not Applicable
RATINGS
The Notes to be issued have not been rated.
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER
Save for fees, if any, payable to the Dealer, and so far as the Issuer is aware, no person
involved in the issue of the Notes has an interest material to the offer.
The Issuer and Société Générale expect to enter into hedging transactions in order to
hedge the Issuer's obligations under the Notes. Should any conflicts of interest arise
between (i) the responsibilities of Société Générale as Calculation Agent for the Notes and
(ii) the responsibilities of Société Générale as counterparty to the above mentioned hedging
transactions, the Issuer and Société Générale hereby represent that such conflicts of
interest will be resolved in a manner which respects the interests of the Noteholders.
4.
REASONS FOR THE OFFER AND USE OF PROCEEDS, ESTIMATED NET PROCEEDS
AND TOTAL EXPENSES
(i)
Reasons for the
offer and use of
proceeds:
The net proceeds from each issue of Notes will be applied for
the general financing purposes of the Société Générale Group,
which include making a profit.
(ii)
Estimated net
proceeds:
Not Applicable
Estimated total
expenses:
Not Applicable
(iii)
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APPLICABLE FINAL TERMS
AMENDED AND RESTATED
5.
INDICATION OF YIELD (Fixed Rate Notes only)
Not Applicable
6.
HISTORIC INTEREST RATES (Floating Rate Notes only)
Not Applicable
7.
PERFORMANCE AND EFFECT ON VALUE OF INVESTMENT
(i)
PERFORMANCE OF FORMULA, EXPLANATION OF EFFECT ON VALUE OF
INVESTMENT (Structured Notes only)
The value of the Notes, the payment of an automatic early redemption amount on a relevant
automatic early redemption date and the payment of a redemption amount to a Noteholder
on the maturity date will depend on the performance of the underlying asset(s), on the
relevant valuation date(s).
The value of the Notes is linked to the positive or negative performance of one or several
underlying instrument(s) within the basket. The amounts to be paid are determined on the
basis of the condition which is satisfied (or not) if the performance of one or several
underlying instrument(s) within the basket is higher than or equal to a predefined barrier
performance.
The Notes may provide for an automatic early redemption linked to a specific event.
Therefore, this may prevent the Noteholders from benefitting from the performance of the
underlying instrument(s) over the whole period initially envisaged.
Investment in Notes including fixed interest rate involves risks linked to the fluctuation of the
market rates which could have negative effect on the value of these Notes.
The terms and conditions of the Notes may include provisions under which upon the
occurrence of certain market disruptions delays in the settlement of the Notes may be
incurred or certain modifications be made. Moreover, in case of occurrence of events
affecting the underlying instrument(s), the terms and conditions of the Notes allow the
Issuer to substitute the underlying instrument(s) by new underlying instrument(s), cease the
exposure to the underlying asset(s) and apply a reference rate to the proceeds so obtained
until the maturity date of the Notes, postpone the maturity date of the Notes, early redeem
the Notes on the basis of the market value of these Notes, or deduct from any due amount
the increase cost of hedging, and in each case without the consent of the Noteholders.
Payments (whether in respect of principal and/or interest and whether at maturity or
otherwise) on the Notes are calculated by reference to certain underlying(s), the return of
the Notes is based on changes in the value of the underlying(s), which may fluctuate.
Potential investors should be aware that these Notes may be volatile and that they may
receive no interest and may lose all or a substantial portion of their principal.
During the lifetime of the Notes, the market value of these Notes may be lower than the
invested capital.
Furthermore, an insolvency of the Issuer and/or the Guarantor may cause a total loss of the
invested capital.
The attention of the investors is drawn to the fact that they could sustain an entire or
a partial loss of their investment.
(ii)
PERFORMANCE OF RATE[S] OF EXCHANGE AND EXPLANATION OF EFFECT ON
VALUE OF INVESTMENT (Dual Currency Notes only)
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APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
Not Applicable
8.
OPERATIONAL INFORMATION
(i)
Security
identification
code(s):
- ISIN Code:
XS1236447352
- Common Code:
123644735
(ii)
Clearing System(s):
Euroclear Bank S.A/N.V. (Euroclear) / Clearstream Banking
société anonyme (Clearstream, Luxembourg)
(iii)
Delivery:
Delivery against payment
(iv)
Calculation Agent:
Société Générale
Tour Société Générale
17 Cours Valmy
92987 Paris La Défense Cedex
France
(v)
Paying Agent(s):
Société Générale Bank&Trust
11, avenue Emile Reuter
2420 Luxembourg
Luxembourg
(vi)
(vii)
Eurosystem eligibility
of the Notes:
Address and contact
details of Société
Générale for all
administrative
communications
relating to the Notes:
No
Société Générale
Tour Société Générale
17 Cours Valmy
92987 Paris La Défense Cedex
France
Name: Sales Support Services - Derivatives
Tel: +33 1 57 29 12 12 (Hotline)
Email: [email protected]
9.
DISTRIBUTION
(i)
Method of
distribution:
- Dealer(s):
(ii)
Total commission and
concession:
Non-syndicated
Société Générale
Tour Société Générale
17 Cours Valmy
92987 Paris La Défense Cedex
France
There is no commission and/or concession paid by the Issuer to
the Dealer or the Managers.
Société Générale shall pay to its relevant distributor(s), a
remuneration of up to 1.2% per annum (calculated on the basis
of the term of the Notes) of the nominal amount of Notes
effectively placed by such distributor(s).
(iii)
TEFRA rules:
Not Applicable
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(iv)
(v)
10.
Permanently
Restricted Notes:
Non-exempt Offer:
Yes
A Non-exempt offer of the Notes may be made by the Dealer
and any Initial Authorised Offeror below mentioned, any
Additional Authorised Offeror, the name and address of whom
will be published on the website of the Issuer
(http://prospectus.socgen.com) and any other financial
intermediaries to whom the Issuer gives a General Consent
(the General Authorised Offerors) in the public offer
jurisdiction(s) (Public Offer Jurisdiction(s)) during the offer
period (Offer Period) as specified in the paragraph “Public
Offers in European Economic Area” below.
- Individual Consent /
Name(s) and
addresse(s) of any
Initial Authorised
Offeror:
Applicable / Garantum Fondkommission AB,
Norrmalmstorg 16, 111 46 Stockholm
Sweden
- General Consent/
Other conditions to
consent:
Applicable
PUBLIC OFFERS IN EUROPEAN ECONOMIC AREA
- Public Offer
Jurisdiction(s):
Norway
- Offer Period:
From 31/08/2015 to 02/10/2015
- Offer Price:
The Notes will be offered at the Issue Price increased by fees, if
any, as mentioned below.
- Conditions to
which the offer is
subject:
Offers of the Notes are conditional on their issue and, on any
additional conditions set out in the standard terms of business
of the financial intermediaries, notified to investors by such
relevant financial intermediaries.
The Issuer reserves the right to close the Offer Period prior to
its stated expiry for any reason.
The Issuer reserves the right to withdraw the offer and cancel
the issuance of the Notes for any reason at any time on or prior
to the Issue Date. For the avoidance of doubt, if any application
has been made by a potential investor and the Issuer exercises
such right, no potential investor shall be entitled to subscribe or
otherwise acquire the Notes.
In each case, a notice to the investors on the early termination
or the withdrawal, as applicable, will be published on the
website of the Issuer (http://prospectus.socgen.com).
- Description of the
application process:
- Description of
possibility to reduce
subscriptions and
manner for
refunding excess
The distribution activity will be carried out in accordance with
the financial intermediary’s usual procedures. Prospective
investors will not be required to enter into any contractual
arrangements directly with the Issuer in relation to the
subscription of the Notes.
Not Applicable
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amount paid by
applicants:
- Details of the
minimum and/or
maximum amount of
application:
Minimum amount of application : NOK 10 000 (i.e. 1 Note)
- Details of the
method and time
limits for paying up
and delivering the
Notes:
The Notes will be issued on the Issue Date against payment to
the Issuer of the net subscription moneys. However, the
settlement and delivery of the Notes will be executed through
the Dealer mentioned above. Investors will be notified by the
relevant financial intermediary of their allocations of Notes and
the settlement arrangements in respect thereof.
- Manner and date in
which results of the
offer are to be made
public:
Publication
on
the
website
of
the
Issuer
(http://prospectus.socgen.com) and in a daily newspaper of
general circulation in the relevant place(s) of listing and/or
public offer at the end of the subscription period if required by
local regulation.
- Procedure for
exercise of any right
of pre-emption,
negotiability of
subscription rights
and treatment of
subscription rights
not exercised:
Not Applicable
- Whether tranche(s)
has/have been
reserved for certain
countries:
Not Applicable
- Process for
notification to
applicants of the
amount allotted and
the indication
whether dealing
may begin before
notification is made:
Not Applicable
- Amount of any
expenses and taxes
specifically charged
to the subscriber or
purchaser:
Taxes charged in connection with the subscription, transfer,
purchase or holding of the Notes must be paid by the
Noteholders and neither the Issuer nor the Guarantor shall
have any obligation in relation thereto; in that respect,
Noteholders shall consult professional tax advisers to
determine the tax regime applicable to their own situation. The
Noteholders shall also consult the Taxation section in the Base
Prospectus.
Subscription fees or purchases fees: up to 3% of Issue Price
per Note, paid by the purchaser to Garantum
Fondkommission AB or an agent appointed by Garantum
Fondkommission AB.
11.
ADDITIONAL INFORMATION
- Minimum Investment
in the Notes:
NOK 10 000 (i.e. 1 Note)
- Minimum Trading:
NOK 10 000 (i.e. 1 Note)
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12.
PUBLIC OFFERS IN OR FROM SWITZERLAND
Not Applicable
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ISSUE SPECIFIC SUMMARY
Section A – Introduction and warnings
A.1
Warning
This summary must be read as an introduction to the Base Prospectus.
Any decision to invest in the Notes should be based on a consideration of
the Base Prospectus.
Where a claim relating to the information contained in the Base Prospectus
is brought before a court, the plaintiff investor might, under the national
legislation of the Member States, have to bear the costs of translating the
Base Prospectus before the legal proceedings are initiated.
Civil liability attaches only to those persons who have tabled this summary,
including any translation thereof, but only if the summary is misleading,
inaccurate or inconsistent when read together with the other parts of the
Base Prospectus or it does not provide, when read together with the other
parts of this Base Prospectus, key information in order to aid investors when
considering whether to invest in the Notes.
A.2
Consent to the use The Issuer consents to the use of this Base Prospectus in connection with a
of the Base
resale or placement of Notes in circumstances where a prospectus is
Prospectus
required to be published under the Prospectus Directive (a Non-exempt
Offer) subject to the following conditions:
- the consent is only valid during the offer period from 31/08/2015 to
02/10/2015 (the Offer Period);
- the consent given by the Issuer for the use of the Base Prospectus to
make the Non-exempt Offer is an individual consent (an Individual
Consent) in respect of Garantum Fondkommission AB, Norrmalmstorg 16,
111 46 Stockholm Sweden (the Initial Authorised Offeror) and if the Issuer
appoints any additional financial intermediaries after the 27/08/2015 and
publishes details of them on its website http://.prospectus.socgen.com, each
financial intermediary whose details are so published (each an Additional
Authorised Offeror); and a general consent (a General Consent) in
respect of any financial intermediary who published on its website that it will
make the Non-exempt Offer of the Notes on the basis of the General
Consent given by the Issuer and by such publication, any such financial
intermediary (each a General Authorised Offeror) undertakes to comply
with the following obligations:
(a) it acts in accordance with all applicable laws, rules, regulations and
guidance (including from any regulatory body) applicable to the Non-exempt
Offer of the Notes in the Public Offer Jurisdiction, in particular the law
implementing the Markets in Financial Instruments Directive (Directive
2004/39/EC) as amended from time to time (hereinafter the Rules) and
makes sure that (i) any investment advice in the Notes by any person is
appropriate, (ii) the information to potential investor including the information
relating to any expenses (and any commissions or benefits of any kind)
received or paid by this General Authorised Offeror under the offer of the
Notes is fully and clearly disclosed;
(b) it complies with the restrictions set out under the section headed
“Subscription, Sale and Transfer Restrictions” in the Base Prospectus
related to the Public Offer Jurisdiction as if it acted as a Dealer in the Public
Offer Jurisdiction;
(c) it complies with the Rules relating to anti-money laundering, anti-bribery
and "know your customer" rules; it retains investor identification records for
at least the minimum period required under applicable Rules, and shall, if so
requested, make such records available to the relevant Issuer and/or the
relevant Dealer or directly to the competent authorities with jurisdiction over
the relevant Issuer and/or the relevant Dealer in order to enable the relevant
Issuer and/or the relevant Dealer to comply with anti-money laundering,
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APPLICABLE FINAL TERMS
AMENDED AND RESTATED
anti-bribery and "know your customer" rules applying to the relevant Issuer
and/or the relevant Dealer;
(d) it does not, directly or indirectly, cause the Issuer or the relevant Dealers
to breach any Rule or any requirement to obtain or make any filing,
authorisation or consent in any jurisdiction;
(e) it commits itself to indemnify the relevant Issuer, the Guarantor (if
applicable) and the relevant Dealer, Société Générale and each of its
affiliates for any damage, loss, expense, claim, request or loss and fees
(including reasonably fees from law firms) incurred by one of its entities
because of, or in relation with, the non-respect by this General Authorised
Offeror of any of these obligations above;
(f) it acknowledges that its commitment to respect the obligations above is
governed by English law and agrees that any related dispute be brought
before the English courts.
Any General Authorised Offeror who wishes to use the Base
Prospectus for an Non-Exempt Offer of Notes in accordance with this
General Consent and the related conditions is required, during the
time of the relevant Offer Period, to publish on its website that it uses
the Base Prospectus for such Non-exempt Offer in accordance with
this General Consent and the related conditions.
- the consent only extends to the use of this Base Prospectus to make Nonexempt Offers of the Notes in Norway.
The information relating to the conditions of the Non-exempt Offer
shall be provided to the investors by any Initial Authorised Offeror and
any General Authorised Offeror where the offer will be made.
Section B – Issuer and Guarantor
B.1
Legal and
commercial name
of the issuer
SG Issuer (or the Issuer)
B.2
Domicile, legal
form, legislation
and country of
incorporation
Domicile: 33, boulevard Prince Henri, L-1724 Luxembourg, Luxembourg.
Legal form: Public limited liability company (société anonyme).
Legislation under which the Issuer operates: Luxembourg law.
Country of incorporation: Luxembourg.
B.4b
Known trends
The Issuer expects to continue its activity in accordance with its corporate
affecting the issuer objects over the course of 2015.
and the industries
in which it operates
B.5
Description of the
Issuer’s group and
the issuer’s
position within the
group
The Group offers a wide range of advisory services and tailored financial
solutions to individual customers, large corporate and institutional investors.
The Group relies on three complementary core businesses:
• French Retail Banking;
• International Retail Banking, Financial Services and Insurance and
• Corporate and Investment Banking, Private Banking, Asset and Wealth
Management and Securities Services.
The Issuer is a subsidiary of the Société Générale Group and has no
subsidiaries.
B.9
Figure of profit
forecast or
Not applicable. The Issuer does not make any figure of profit forecast or
estimate.
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estimate of the
issuer
B.10
Nature of any
qualifications in
the audit report on
the historical
financial
information
B.12
Selected historical
key financial
information
regarding the
issuer
Not applicable. The audit reports do not include any qualification.
(in K€)
December 31, December 31,
2014
2013
(audited)
(audited)
Operating Revenues
110 027
109 588
Profit from operations
209
482
Profit from continuing
operations
209
482
23 567 256
21 349 619
Total Assets
No Material
There has been no material adverse change in the prospects of the Issuer
adverse change in since 31 December 2014.
the prospects of
the issuer since the
date of its last
published audited
financial
statements
Significant
changes in the
financial or trading
position
subsequent to the
period covered by
the historical
financial
information
Not Applicable. There has been no significant change in the Issuer’s financial
or trading position of the Issuer since 31 December 2014.
B.13
Recent events
particular to the
issuer which are to
a material extent
relevant to the
evaluation of the
Issuer’s solvency
Not Applicable. There has been no recent event particular to the Issuer which
is to a material extent relevant to the evaluation of the Issuer’s solvency.
B.14
Statement as to
whether the issuer
is dependent upon
other entities
within the group
See Element B.5 above for the Issuers' position within the Group.
B.15
Description of the
issuer’s principal
activities
The principal activity of SG Issuer is raising finance by the issuance of debt
securities designed to be placed to institutional customers or retail customers
through the distributors associated with Société Générale. The financing
obtained through the issuance of such debt securities is then lent to Société
Générale and to other members of the Group.
B.16
To the extent
known to the
SG Issuer is a 100 per cent. owned subsidiary of Société Générale Bank &
Trust S.A. which is itself a 100 per cent. owned subsidiary of Société Générale
SG Issuer is dependent upon Société Générale Bank & Trust within the Group.
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B.18
issuer, whether the
issuer is directly or
indirectly owned or
controlled and by
whom, and nature
of such control
and is a fully consolidated company.
Nature and scope
of the guarantee
The Notes are unconditionally and irrevocably guaranteed by Société
Générale (the Guarantor) pursuant to the Guarantee dated 28 October 2014.
The Guarantee constitutes a direct, unconditional, unsecured and general
obligation of the Guarantor and ranks and will rank pari passu with all other
existing and future direct, unconditional, unsecured and general obligations of
the Guarantor, including those in respect of deposits.
B.19
Information about
the guarantor as if
it were the issuer
of the same type of
security that is
subject of the
guarantee
The information about Société Générale as if it were the Issuer of the same
type of Notes that is subject of the Guarantee is set out in accordance with
Elements B.19 / B.1, B.19 / B.2, B.19 / B.4b, B.19 / B.5, B.19 / B.9, B.19 /
B.10, B.19 / B.12, B.19 / B.13, B.19 / B.14, B.19 / B.15, B.19 / B.16 below,
respectively:
B.19/ B.1: Société Générale
B.19/ B.2: Domicile: 29, boulevard Haussmann, 75009 Paris, France. Legal
form: Public limited liability company (société anonyme). Legislation under
which the Issuer operates: French law. Country of incorporation: France.
B.19/ B.4b:
2014 was another challenging year for the economy, with global activity
posting only moderate growth that varied by region. This trend is expected to
carry over into 2015, which is shaping up to deliver a weaker-than-expected
global economic recovery amid myriad uncertainties both on the geopolitical
front and on the commodity and forex markets.
The euro zone is struggling to return to more dynamic growth, thus slowing the
reduction of public deficits. Interest rates should remain at record lows, but the
deflationary risk should be kept under control by the intervention of the ECB
which has announced the implementation of a more accommodative monetary
policy and the use of its balance sheet to support growth. The depreciation of
the euro and falling oil prices should help boost exports and stimulate domestic
demand. The US economy should stay on a positive track and the Fed is
expected to begin tightening its monetary policy mid-year. Emerging countries
have entered a phase of more moderate growth, in particular China. Russia’s
economy is struggling with the consequences of the Ukrainian crisis coupled
with the drop in commodity prices.
From a regulatory standpoint, 2014 saw the implementation of the Banking
Union. The European Central Bank took the helm of the Single Supervisory
Mechanism, overseeing some 130 euro zone banks, with the aim of
strengthening the banking system, restoring the confidence of economic
operators, harmonising banking supervision rules and reducing the link
between banks and their national authorities.
In terms of regulatory ratios, the Group can already meet the new
requirements.
B.19/ B.5:
The Group offers a wide range of advisory services and tailored financial
solutions to individual customers, large corporate and institutional investors.
The Group relies on three complementary core businesses:
• French Retail Banking;
• International Retail Banking, Financial Services and Insurance and
• Corporate and Investment Banking, Private Banking, Asset and Wealth
Management and Securities Services.
Société Générale is the parent company of the Société Générale Group.
B.19/ B.9:
Not Applicable. The Issuer does not make any figure of profit forecast or
estimate.
B.19/B.10:
Not applicable. The audit report does not include any qualification.
B.19/B.12:
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APPLICABLE FINAL TERMS
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Quarter
2–
2015
(non
audited)
Results (in
EUR M)
Net Banking
Income
13,222
Year ended
2014
(audited,
except as
mentionned
otherwise
(*))
23,561
Quarter
2–
2014
(non
audited)
(*)
Year
ended
2013
(audited)
(1)
22,433
11,556
2,336
Operating
income
3,319
Net income
before non
controlling
interests
2,421
Net income
2,219
4,557 (*)
2,232 (*)
2,978 (*)
1,404 (*)
2,679 (*)
1, 248
(*)
2,394
2,044
1,196
French Retail
Banking
692
International
Retail
Banking
&
Financial
Services
451
Global
Banking and
Investor
Solutions
1,213
Corporate
Centre
(137)
Net cost of
risk
(1,337)
Cost/income
ratio (2)
64.8%
ROE
after
tax (3)
Tier 1 Ratio
9.1%
983
370 (*)
(9) (*)
1,909 (*)
1, 031
(*)
1,206
(413) (*)
(1,341)
(1,419)
(4,050)
66.2%
(*)
67.0%
5.1%
4.1%
(804) (*)
(2,967)
68% (*)
5.3%
12.6%
12.7%
Activity
EUR bn)
1,204 (*)
639 (*)
11.8%
12.5%
(in
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1,214.2
Total assets
and liabilities
1,359.5
1,308.2
1, 322.6
Customer
loans
370.2
344.4
336.2
Customer
deposits
377.2
349.7
341.8
56.1
55.2
53.3
59.6
58.8
332.7
334.2
Equity
(in
billions
of
euros)
Group
shareholders'
equity
Total
consolidated
equity
Cash
flow
statements
(in billions of
euros)
Net
inflow
(outflow) in
cash
and
cash
equivalents
50.9
54.0
55.9
22,255
(10,183)
(13,148)
(981)
(1) Items relating to the results for 2013 have been restated due to the
implementation of IFRS 10 & 11.
(2) excluding the revaluation of own financial liabilities and DVA,
PEL/CEL and 50% IFRIC 21.
(3) Group ROE calculated excluding non-economic items, collective
provision for litigation issues, PEL/CEL and adjusted for the effect of
IFRIC 21. The adjustment relating to IFRIC 21 corrects, for each quarter,
25% of the taxes borne in their entirety in H1 in respect of the financial
year. ROE in absolute terms in H1 14: 5.1%, in Q2 14: 9.3%.
(*) Note that the data for the 2014 financial year have been restated, due to the
implementation on January 1st, 2015 of the IFRIC 21 standard resulting in the
publication of adjusted data for the previous financial year.
There has been no material adverse change in the prospects of the Issuer
since 31 December 2014.
Not Applicable. There has been no significant change in the Issuer’s financial
or trading position of the Issuer since 31 June 2015.
B.19/B.13:
Not Applicable.There has been no recent events particular to the Issuer which
is to a material extent relevant to the evaluation of the Issuer's solvency.
B.19/ B.14:
See Element B.5 above for the Issuer’s position within the Group.
Société Générale is the ultimate holding company of the Group. However,
Société Générale operates its own business; it does not act as a simple
holding company vis-à-vis its subsidiaries.
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B.19/ B.15:
See Element B.19/ B.5 above.
B.19/ B.16:
Not Applicable. To its knowledge, Société Générale is not owned or controlled,
directly or indirectly (under French law) by another entity.
Section C – Securities
C.1
Type and the class
of the securities
being offered
and/or admitted to
trading, including
any security
identification
number
The Notes are derivative instruments indexed on share.
C.2
Currency of the
securities issue
NOK
C.5
Description of any
restrictions on the
free transferability
of the securities
There is no restriction on the free transferability of the Notes, subject to selling
and transfer restrictions which may apply in certain jurisdictions.
C.8
Rights attached to
the securities,
including ranking
and limitations to
those rights and
procedures for the
exercise of those
rights
Rights attached to the securities:
ISIN code: XS1236447352
Common Code: 123644735
Unless the Notes are previously redeemed, the Notes will entitle each holder
of the Notes (a Noteholder) to receive a redemption amount which may be
lower than, equal to or higher than the amount initially invested (see Element
C.18).
A Noteholder will be entitled to claim the immediate and due payment of any
sum in case:
- the Issuer fails to pay or to perform its other obligations under the Notes
- the Guarantor fails to perform its obligations under the Guarantee or in the
event that the guarantee of Société Générale stops being valid;
- of insolvency or bankruptcy proceeding(s) affecting the Issuer.
The Noteholders’ consent shall have to be obtained to amend the contractual
terms of the Notes pursuant to the provisions of an agency agreement, made
available to a Noteholder upon request to the Issuer.
- The Issuer accepts the exclusive competence of the courts of England in
benefit of the Noteholders in relation to any dispute against the Issuer but
accepts that such Noteholders may bring their action before any other
competent court.
Ranking:
The Notes will be direct, unconditional, unsecured and unsubordinated
obligations of the Issuer and will rank equally with all other outstanding direct,
unconditional, unsecured and unsubordinated obligations of the Issuer,
present and future.
Limitations to rights attached to the securities:
- in the case of adjustments affecting the underlying instrument(s), the Issuer
may amend the terms and conditions or in the case of the occurrence of
extraordinary events affecting the underlying instrument(s), the Issuer may
substitute the underlying instrument(s) by new underlying instrument(s),
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monetise all or part of the due amounts until the maturity date of the Notes,
postpone the maturity date of the Notes, redeem early the Notes on the basis
of the market value of these Notes, or deduct from any due amount the
increase cost of hedging, and in each case without the consent of the
Noteholders;
- the Issuer may redeem early the Notes on the basis of the market value of
these Notes for tax or regulatory reasons and if the proportion between the
outstanding Notes and the number of Notes initially issued is lower than 10%;
- the rights to payment of principal and interest will be prescribed within a
period of ten years (in the case of principal) and five years (in the case of
interest) from the date on which the payment of these amounts has become
due for the first time and has remained unpaid.
- In the case of a payment default by the Issuer, Noteholders shall not be
entitled to take any steps or proceedings to procure the winding-up,
administration or liquidation (or any other analogous proceeding) of the Issuer.
Nevertheless, Noteholders will continue to be able to claim against the
Guarantor in respect of any unpaid amount
Taxation
All payments in respect of Notes, Receipts and Coupons or under the
Guarantee shall be made free and clear of, and without withholding or
deduction for or on account of, any present or future taxes, duties,
assessments or governmental charges of whatever nature imposed, levied,
collected, withheld or assessed by or on behalf of any Tax Jurisdiction unless
such withholding or deduction is required by law.
In the event that any amounts are required to be deducted or withheld for, or
on behalf of, any Tax Jurisdiction, the relevant Issuer or, as the case may be,
the Guarantor shall (except in certain circumstances), to the fullest extent
permitted by law, pay such additional amount as may be necessary, in order
that each Noteholder, Receiptholder or Couponholder, after deduction or
withholding of such taxes, duties, assessments or governmental charges, will
receive the full amount then due and payable.
Governing law
The Notes and any non-contractual obligations arising out of or in connection
with the Notes will be governed by, and shall be construed in accordance with
English law.
C.11
Whether the
securities offered
are or will be the
object of an
application for
admission to
trading, with a view
to their distribution
in a regulated
market or other
equivalent markets
with indication of
the markets in
question
Application will be made for the Notes to be admitted to trading on the
regulated market of the Luxembourg Stock Exchange.
C.15
How the value of
the investment is
affected by the
value of the
underlying
instrument(s)
The value of the Notes, the payment of an automatic early redemption amount
on a relevant automatic early redemption date and the payment of a
redemption amount to a Noteholder on the maturity date will depend on the
performance of the underlying asset(s), on the relevant valuation date(s).
The value of the Notes is linked to the positive or negative performance of one
or several underlying instrument(s) within the basket. The amounts to be paid
are determined on the basis of the condition which is satisfied (or not) if the
performance of one or several underlying instrument(s) within the basket is
higher than or equal to a predefined barrier performance.
- 23 T-KFRLOFCABWCBCSPS001
Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
C.16
The maturity date
and the final
reference date
The maturity date of the Notes will be 25/10/2020, and the final reference date
will be the last valuation date.
The maturity date may be modified pursuant to the provisions of Element C.8
above and Element C.18 below.
C.17
Settlement
procedure of the
derivative
securities
Cash delivery
C.18
How the return on
derivative
securities takes
place
Unless previously redeemed, the return on the derivative securities will take
place as follows:
Specified Denomination: NOK 10 000
Rate(s) of Interest:
Specified Period(s) / Interest
Payment Date(s):
(DD/MM/YYYY)
Indicatively 0.8% payable in arrear
with a minimum of 0.6%. Final
Rate(s) of Interest will be confirmed at
the latest on Valuation Date(0).
i
Interest Payment
Date(i)
1
25/11/2015
2
25/12/2015
3
25/01/2016
4
25/02/2016
5
25/03/2016
6
25/04/2016
7
25/05/2016
8
25/06/2016
9
25/07/2016
10
25/08/2016
11
25/09/2016
12
25/10/2016
13
25/11/2016
14
25/12/2016
15
25/01/2017
16
25/02/2017
17
25/03/2017
18
25/04/2017
19
25/05/2017
20
25/06/2017
21
25/07/2017
22
25/08/2017
23
25/09/2017
24
25/10/2017
25
25/11/2017
26
25/12/2017
27
25/01/2018
28
25/02/2018
29
25/03/2018
- 24 T-KFRLOFCABWCBCSPS001
Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
Fixed Coupon Amount:
30
25/04/2018
31
25/05/2018
32
25/06/2018
33
25/07/2018
34
25/08/2018
35
25/09/2018
36
25/10/2018
37
25/11/2018
38
25/12/2018
39
25/01/2019
40
25/02/2019
41
25/03/2019
42
25/04/2019
43
25/05/2019
44
25/06/2019
45
25/07/2019
46
25/08/2019
47
25/09/2019
48
25/10/2019
49
25/11/2019
50
25/12/2019
51
25/01/2020
52
25/02/2020
53
25/03/2020
54
25/04/2020
55
25/05/2020
56
25/06/2020
57
25/07/2020
58
25/08/2020
59
25/09/2020
60
25/10/2020
Unless previously redeemed, on each
Interest Payment Date, the Issuer
shall pay to the Noteholders, for each
Note, an amount determined by the
Calculation Agent as follows:
Rate of Interest
Denomination
Automatic Early Redemption
Amount(s):
x
Specified
Unless previously redeemed, if an
Automatic Early Redemption Event
has occurred, then the Issuer shall
redeem early the Notes on Automatic
Early Redemption Date(i) (i from 12 to
59) in accordance with the following
provisions in respect of each Note:
Automatic
Early
Redemption
Amount(i) = Specified Denomination x
100%
- 25 T-KFRLOFCABWCBCSPS001
Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
Automatic Early Redemption
Date(s):
(DD/MM/YYYY)
i
Automatic Early
Redemption
Date(i)
12
25/10/2016
13
25/11/2016
14
25/12/2016
15
25/01/2017
16
25/02/2017
17
25/03/2017
18
25/04/2017
19
25/05/2017
20
25/06/2017
21
25/07/2017
22
25/08/2017
23
25/09/2017
24
25/10/2017
25
25/11/2017
26
25/12/2017
27
25/01/2018
28
25/02/2018
29
25/03/2018
30
25/04/2018
31
25/05/2018
32
25/06/2018
33
25/07/2018
34
25/08/2018
35
25/09/2018
36
25/10/2018
37
25/11/2018
38
25/12/2018
39
25/01/2019
40
25/02/2019
41
25/03/2019
42
25/04/2019
43
25/05/2019
44
25/06/2019
45
25/07/2019
46
25/08/2019
47
25/09/2019
48
25/10/2019
49
25/11/2019
50
25/12/2019
51
25/01/2020
52
25/02/2020
53
25/03/2020
- 26 T-KFRLOFCABWCBCSPS001
Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
Final Redemption Amount:
54
25/04/2020
55
25/05/2020
56
25/06/2020
57
25/07/2020
58
25/08/2020
59
25/09/2020
Unless previously redeemed, the
Issuer shall redeem the Notes on the
Maturity Date, in accordance with the
following provisions in respect of each
Note:
Scenario 1:
If on Valuation Date(60),
WorstPerformance(60) is higher than
or equal to -50%, then:
Final Redemption Amount = Specified
Denomination x 100%
Scenario 2:
If on Valuation Date(60),
WorstPerformance(60) is lower than 50%, then:
Final Redemption Amount = Specified
Denomination x [100% +
WorstPerformance(60)]
Definitions relating to date(s):
Valuation Date(0):
(DD/MM/YYYY)
Valuation Date(i);
(i from 1 to 60)
(DD/MM/YYYY)
09/10/2015
i
Valuation Date(i)
1
09/11/2015
2
09/12/2015
3
09/01/2016
4
09/02/2016
5
09/03/2016
6
09/04/2016
7
09/05/2016
8
09/06/2016
9
09/07/2016
10
09/08/2016
11
09/09/2016
12
09/10/2016
13
09/11/2016
14
09/12/2016
15
09/01/2017
16
09/02/2017
17
09/03/2017
- 27 T-KFRLOFCABWCBCSPS001
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APPLICABLE FINAL TERMS
AMENDED AND RESTATED
18
09/04/2017
19
09/05/2017
20
09/06/2017
21
09/07/2017
22
09/08/2017
23
09/09/2017
24
09/10/2017
25
09/11/2017
26
09/12/2017
27
09/01/2018
28
09/02/2018
29
09/03/2018
30
09/04/2018
31
09/05/2018
32
09/06/2018
33
09/07/2018
34
09/08/2018
35
09/09/2018
36
09/10/2018
37
09/11/2018
38
09/12/2018
39
09/01/2019
40
09/02/2019
41
09/03/2019
42
09/04/2019
43
09/05/2019
44
09/06/2019
45
09/07/2019
46
09/08/2019
47
09/09/2019
48
09/10/2019
49
09/11/2019
50
09/12/2019
51
09/01/2020
52
09/02/2020
53
09/03/2020
54
09/04/2020
55
09/05/2020
56
09/06/2020
57
09/07/2020
58
09/08/2020
59
09/09/2020
60
09/10/2020
Definitions relating to the Product: Applicable, subject to the provisions
of the Additional Terms and
Conditions relating to Formulae
- 28 T-KFRLOFCABWCBCSPS001
Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
WorstPerformance(i)
(i from 12 to 60)
means the Minimum, for k from 1 to 4,
of Performance(i, k), as defined in
Condition 4.6 of the Additional Terms
and Conditions relating to Formulae.
Performance(i,k)
(i from 12 to 60)
(k from 1 to 4)
means (S(i, k) / S(0, k)) - 100%, as
defined in Condition 4.1 of the
Additional Terms and Conditions
relating to Formulae.
S(i,k)
(i from 12 to 60 or i=0)
(k from 1 to 4)
means in respect of any Valuation
Date(i) the Closing Price of the
Underlying(k), as defined in Condition
4.0 of the Additional Terms and
Conditions relating to Formulae
Automatic Early Redemption Event is deemed to have occurred, as
determined by the Calculation Agent,
if on a Valuation Date(i) (i from 12 to
59), WorstPerformance(i) is higher
than or equal to 0%
C.19
C.20
The final reference
price of the
underlying
See Element C.18 above.
Type of the
underlying and
where the
information on the
underlying can be
found
The type of underlying is: share.
Final reference price: the value of the underlying instrument(s) on the relevant
valuation date(s) for the redemption, subject to the occurrence of certain
extraordinary events and adjustments affecting such underlying instrument(s).
Information about the underlying is available on the following website(s), if any,
or upon simple request to Société Générale.
k
Company
Bloomberg Exchange
Ticker
Website
1
Staples Inc SPLS UW NASDAQ
STOCK
EXCHANGE
2
Apple Inc
3
Tesla
TSLA UW
Motors Inc
NASDAQ
www.teslamotors.com
GLOBAL
SELECT
TEMP_MARKET
4
American
Airlines
Group Inc
NASDAQ
www.aa.com
GLOBAL
SELECT
TEMP_MARKET
www.staples.com
AAPL UW NASDAQ
www.apple.com
GLOBAL
SELECT
TEMP_MARKET
AAL UW
Section D – Risks
- 29 T-KFRLOFCABWCBCSPS001
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APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
D.2
Key information on
the key risks that
are specific to the
issuer and the
guarantor
The Group is exposed to the risks inherent in its core businesses.
The Group's risk management focuses on the following main categories of
risks, any of which could materially adversely affect the Group's business,
results of operations and financial condition:
Credit and counterparty risk (including country risk): risk of losses arising
from the inability of the Group’s customers, issuers or other counterparties to
meet their financial commitments. Credit risk includes counterparty risk linked
to market transactions (replacement risk) and as well as securitisation
activities.
Market risk: risk of a loss of value on financial instruments arising from
changes in market parameters, volatility of these parameters and correlations
between them.
Operational risks: risk of losses or sanctions due to inadequacies or failures
in internal procedures or systems, human error or external events;
Structural interest and exchange rate risk: risk of loss or of write-downs in
the Group’s assets arising from variations in interest or exchange rates.
Liquidity risk: risk of the Group not being able to meet its cash or collateral
requirements as they arise and at a reasonable cost.
The Guarantee constitutes a general and unsecured contractual obligation of
the Guarantor and no other person, any payments on the Notes are also
dependent on the creditworthiness of the Guarantor.
Prospective investors in Notes benefiting from the Guarantee should note that
in case of payment default of an Issuer the entitlement of the Noteholder will
be limited to the sums obtained by making a claim under the Guarantee, and
the relevant provisions of the Guarantee and they shall have no right to
institute any proceeding, judicial or otherwise, or otherwise assert a claim
against the Issuer and, in relation to Secured Notes only, from the sums
obtained following enforcement of the relevant Pledge Agreement.
The Guarantee is a payment guarantee only and not a guarantee of the
performance by the relevant Issuer or any of its other obligations under the
Notes benefiting from the Guarantee.
The Guarantee may cover only part of the relevant Issuer's payment
obligations under the relevant Series of Notes. In such a case, Noteholders
may retain the risk that payments under the Guarantee are less than the
amounts due by the Issuer under the Notes.
Société Générale will act as issuer under the Programme, as the Guarantor of
the Notes issued by the Issuer and also as provider of hedging instruments to
the Issuer. As a result, investors will be exposed not only to the credit risk of
the Guarantor but also operational risks arising from the lack of independence
of the Guarantor, in assuming its duties and obligations as the Guarantor and
provider of the hedging instruments.
The potential conflicts of interests and operational risks arising from such lack
of independence are in part intended to be mitigated by the fact that different
divisions within the Guarantor will be responsible for implementing the
Guarantee and providing the hedging instruments and that each division is run
as a separate operational unit, segregated by Chinese walls (information
barriers) and run by different management teams.
The Issuer and the Guarantor and any of their subsidiaries and/or their
affiliates, in connection with their other business activities, may possess or
acquire material information about the underlying assets. Such activities and
information may cause consequences adverse to Noteholders.
The Issuer and the Guarantor and any of their subsidiaries and/or their
- 30 T-KFRLOFCABWCBCSPS001
Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
affiliates may act in other capacities with regard to the Notes, such as market
maker, calculation agent or agent. Therefore, a potential conflict of interests
may arise.
In connection with the offering of the Notes, the Issuer and the Guarantor
and/or their affiliates may enter into one or more hedging transaction(s) with
respect to a reference asset(s) or related derivatives, which may affect the
market price, liquidity or value of the Notes.
D.6
Key information on
the key risks that
are specific to the
securities and risk
warning to the
effect that
investors may lose
the value of their
entire investment
or part of it
The Notes may provide for an automatic early redemption linked to a specific
event. Therefore, this may prevent the Noteholders from benefitting from the
performance of the underlying instrument(s) over the whole period initially
envisaged.
The terms and conditions of the Notes may include provisions under which
upon the occurrence of certain market disruptions delays in the settlement of
the Notes may be incurred or certain modifications be made. Moreover, in
case of occurrence of events affecting the underlying instrument(s), the terms
and conditions of the Notes allow the Issuer to substitute the underlying
instrument(s) by new underlying instrument(s), cease the exposure to the
underlying asset(s) and apply a reference rate to the proceeds so obtained
until the maturity date of the Notes, postpone the maturity date of the Notes,
early redeem the Notes on the basis of the market value of these Notes, or
deduct from any due amount the increase cost of hedging, and in each case
without the consent of the Noteholders.
Payments (whether in respect of principal and/or interest and whether at
maturity or otherwise) on the Notes are calculated by reference to certain
underlying(s), the return of the Notes is based on changes in the value of the
underlying(s), which may fluctuate. Potential investors should be aware that
these Notes may be volatile and that they may receive no interest and may
lose all or a substantial portion of their principal.
Investment in Notes including fixed interest rate involves risks linked to the
fluctuation of the market rates which could have negative effect on the value of
these Notes.
During the lifetime of the Notes, the market value of these Notes may be lower
than the invested capital. Furthermore, an insolvency of the Issuer and/or the
Guarantor may cause a total loss of the invested capital.
The attention of the investors is drawn to the fact that they could sustain
an entire or a partial loss of their investment.
Section E – Offer
E.2.b
Reasons for the
offer and use of
proceeds
The net proceeds from each issue of Notes will be applied for the general
financing purposes of the Société Générale Group, which include making a
profit.
E.3
Description of the
terms and
conditions of the
offer
Public Offer Jurisdiction(s): Norway
Offer Period: from 31/08/2015 to 02/10/2015
Offer Price: The Notes will be offered at the Issue Price increased by fees, if
any, as mentioned below.
Conditions to which the offer is subject: Offers of the Notes are conditional
on their issue and, on any additional conditions set out in the standard terms of
business of the financial intermediaries, notified to investors by such relevant
financial intermediaries.
- 31 T-KFRLOFCABWCBCSPS001
Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
The Issuer reserves the right to close the Offer Period prior to its stated expiry
for any reason.
The Issuer reserves the right to withdraw the offer and cancel the issuance of
the Notes for any reason at any time on or prior to the Issue Date. For the
avoidance of doubt, if any application has been made by a potential investor
and the Issuer exercises such right, no potential investor shall be entitled to
subscribe or otherwise acquire the Notes.
In each case, a notice to the investors on the early termination or the
withdrawal, as applicable, will be published on the website of the Issuer
(http://prospectus.socgen.com).
E.4
Description of any
interest that is
material to the
issue/offer
including
conflicting
interests
Save for any fees payable to the dealer, so far as the Issuer is aware, no
person involved in the issue of the Notes has an interest material to the offer.
E.7
Estimated
expenses charged
to the investor by
the Issuer or the
offeror
The expenses charged to the investor will be up to 3% of Issue Price per Note,
paid by the purchaser to Garantum Fondkommission AB or an agent appointed
by Garantum Fondkommission AB.
- 32 T-KFRLOFCABWCBCSPS001
Supprimé: 2
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
SAMMENDRAG FOR UTSTEDELSEN
Avsnitt A – Introduksjon og advarsel
A.1
Advarsel
Dette sammendraget må leses som en introduksjon til Grunnprospektet
(EN: Base Prospectus).
Enhver beslutning om å invester i Notene (EN: Notes) må baseres på en
vurdering av Grunnprospektet.
Rettstvist knyttet til informasjon som gis i Grunnprospektet kan, etter intern
lovgivning i Medlemstatene (EN: Member States), medføre at saksøkende
investor må bære alle kostnader knyttet til oversettelse av Grunnprospektet
forut for behandling av rettslig behandling av tvisten.
Erstatningsansvar kan kun fremsettes mot den som har utgitt dette
sammendraget, herunder enhver oversettelse av det, men kun dersom
sammendraget sett i sammenheng med øvrige deler av Grunnprospektet er
misvisende, ukorrekt eller inkonsistent, eller dersom sammendraget, lest i
sammenheng med øvrige deler av Grunnprospektet, mangler
nøkkelinformasjon som investorer har nytte av når de skal vurdere om de
skal investere i Notene.
A.2
Samtykke til bruk
av
Grunnprospektet
Under de vilkårene som følger nedenfor, samtykker Utstederen (EN: the
Issuer) til bruk av dette Grunnprospektet i forbindelse med plassering eller
videresalg av Notene i tilfeller der offentliggjøring av prospekt er påkrevd
etter EUs Prospektforordning (et Ikke Fritatt Tilbud) (EN: a Non-exempt
offer):
- dette samtykket er kun gyldig i tilbudsperioden fra 31/08/2015 til
02/10/2015 (Tilbudsperioden) (EN: the Offer Period);
- Utsteders samtykke til bruk av Grunnprospketet for å fremsette et Ikke
Fritatt Tilbud er et individuelt samtykke (et Individuelt Samtykke) (EN: an
Individual Consent) gitt utelukkende til Garantum Fondkommission AB,
Norrmalmstorg 16, 111 46 Stockholm Sverige (den Opprinnelige
Autoriserte Tilbyder) (EN: the Initial Authorised Offeror). Dersom Utsteder
utnevner andre finansielle mellommenn etter 27/08/2015, og offentliggjør
deres detaljer på Utsteders internettside, http://.prospectus.socgen.com, og
hvor detaljene for hver finansielle mellommann er offentliggjort på Utsteders
internettside (hver enkelt en Ytterligere Autorisert Tilbyder) (EN:
Additional Authorised Offeror); og et generelt samtykke (et Generelt
Samtykke) (EN: a General Consent) med hensyn til enhver finansiell
mellommann som har bekjentgjort på sin internettside at det vil fremsette et
Ikke Fritatt Tilbud av Notene på grunnlag av et Generelt Samtykke gitt av
Utsteder og ved slik bekjentgjøring, forplikter enhver finansiell mellommann
seg til å (en Generelt Autorisert Tilbyder) (EN: General Authorised
Offeror) overholde følgende vilkår:
(a) å opptre i samsvar med all gjeldende lovgivning, regler, forskrifter
og retningslinjer (herunder retningslinjer utgitt av ethvert
tilsynsorgan) som gjelder for et Ikke Fritatt Tilbud av Noter i
Offentlig Utstedelse Jurisdiksjonen (EN: Public Offer Jurisdiksjon), i
særdeleshet loven som implementerer Verdipapirmarkedsdirektivet
(MiFID, Direktiv 2004/39/EC) (EN: Markets in Financial Instruments
Directive) slik det til enhver tid lyder (heretter Reglene) (EN: the
Rules), og samtidig sørge for at (i) ethvert råd gitt om å investere
Notene er passende, (ii) at informasjon gitt til enhver potensiell
investor inkluderer informasjon knyttet til enhver kostnad (og
enhver kommisjon eller andre fordeler av noe slag) mottatt eller
betalt av Generelt Autorisert Tilbyder ved tilbud av Notene;
(b) å opptre i samsvar med de restriksjoner som angitt i avsnittet med
overskrift
Subscription, Sale and Transfer Restrictions i
Grunnprospektet i tilknytning til Offentlig Utstedelse Jurisdiksjonen,
og som Generelt Autorisert Tilbyder ville ha vært underlagt dersom
- 33 T-KFRLOFCABWCBCSPS001
Supprimé: FINAL VERSION
APPROVED BY THE ISSUER
APPLICABLE FINAL TERMS
AMENDED AND RESTATED
det opptrådte som Forhandler (EN: Dealer) i Offentlig Utstedelse
Jurisdiksjonen.
(c) å opptre i samsvar med Reglene med hensyn til hvitvaskings-,
antikorrupsjons- og “kjenn din kunde”-reglene; lagrer opplysninger
om investoren for minst en periode som tilsvarer
minimumsperioden som er påkrevd i henhold til gjeldende Regler,
og ved forespørsel utlevere slike opplysninger til den aktuelle
Utstederen og/eller den aktuelle Forhandleren eller direkte til
myndighetene med jurisdiksjon over den aktuelle Utstederen
og/eller den aktuelle Forhandleren når det er påkrevd for å
etterkomme hvitvaskings-, antikorrupsjons- og “ kjenn din kunde”reglene som gjelder for den aktuelle Utstederen og/eller aktuelle
Forhandleren;
(d) å ikke, verken direkte eller indirekte, være skyld i at Utstederen
eller den aktuelle Forhandleren handler i strid med Reglene eller
noe annet krav om å innhente eller lagre, fullmakt eller samtykke i
enhver jurisdiksjon;
(e) å forplikte seg til å holde den aktuelle Utstederen, Garantisten (EN:
the Guranator) (hvis aktuelt), den aktuelle Forhandleren, Société
Générale og ethvert selskap tilknyttet Société Générale skadesløs
for enhver(t) påført skade, tap, kostnad, krav, forespørsel eller tap
og honorar/salær (herunder rimelige advokatsalær) på grunn av
eller i tilknytning til Generelt Autorisert Tilbyders brudd på noen av
de ovennevnte vilkår;
(f)
å være kjent med at forpliktelsen til å overholde de ovennevnte
vilkårene er underlagt engelsk rett, og samtykker til at enhver tvist
knyttet til disse vilkårene skal bringes frem for engelske domstoler.
Enhver Generelt Autorisert Tilbyder som ønsker, under den aktuelle
Tilbudsperioden, å bruke Grunnprospektet for et Ikke Fritatt Tilbud av
Noter i samsvar med et Generelt Samtykke og øvrige relevante vilkår,
plikter å informere om at bruk av Grunnprospektet for det aktuelle Ikke
Fritatte Tilbudet skjer i samsvar med det Generelle Samtykket og
øvrige relevante vilkår på sin internettside.
- samtykket for bruk av dette Grunnprospektet i tilknytning til å gi Ikke
Fritatte Tilbud av Noter gjelder kun i Norge.
Informasjonen tilknyttet til vilkårene for det Ikke Fritatte Tilbudet skal
gjøre tilgjengelig for investorene av enhver Opprinnelig Autorisert
Tilbyder og enhver Generelt Autorisert Tilbyder på samme sted som
tilbudet fremsettes.
Avsnitt B – Utsteder og Garantist
B.1
Utsteders juridisk og
kommersielle navn
SG Issuer (eller Utstederen) (EN: the Issuer)
B.2
Forretningsadresse,
selskapsform,
lovgivning og
stiftelsesland
Forretningsadresse: 33, boulevard Prince Henri, L-1724 Luxembourg,
Luxembourg.
Kjente trender som
påvirker utstederen og
markedet utstederen
operer i
Utstederen forventer å fortsette sin aktivitet i samsvar med konsernets
målsetninger for 2015.
B.4b
Selskapsform: Luxembourgsk Allmennaksjeselskap (société anonyme).
Lovgivningen Utstederen er underlagt: Luxembourg rett.
Utsteders stiftelsesland: Luxembourg.
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B.5
Beskrivelse av
Utstederens
konserngruppe og
utstederens posisjon i
konserngruppen
Konsernet (EN: the Group) tilbyr et bredt spekter av rådgivningstjenester og
skreddersydde finansielle løsninger til enkeltkunder, store selskaper og
institusjonelle investorer. Konsernet baserer seg på tre komplementære
kjernevirksomheter:
• Banktjenester rettet mot personmarkedet i Frankrike;
• Internasjonale banktjenester rettet mot personmarkedet, finansielle
tjenester og forsikring
• Bedrifts- og investeringsbankvirksomhet, private banking, kapital- og
formuesforvaltning og verdipapirtjenester.
Utstederen er et datterselskap av Société Générale-konsernet, og har ingen
datterselskap.
B.9
Antatte
Ikke aktuelt. Utstederen lager ikke lønnsomhetsprognoser eller estimater.
lønnsomhetsprognoser
eller utstederens
estimater
B.10
Eventuelle forbehold i
revisjonsberetninger
for historisk finansiell
informasjon
B.12
Utvalgt historisk
finansiell
nøkkelinformasjon
angående utstederen
Ikke aktuelt. Revisjonsberetningene inneholder ingen slike forbehold.
(i K€)
Desember 31, Desember 31,
2014
2013
(revidert)
(revidert)
Driftsinntekter
110 027
109 588
Driftsresultat
209
482
Resultat fra løpende
virksomhet
209
482
23 567 256
21 349 619
Totale aktiva
Ingen vesentlige
negative endringer i
utsteders
framtidsutsikter etter
siste offentliggjorte
reviderte regnskap
Det har ikke funnet sted noen vesentlige negative endringer i Utsteders
framtidsutsikter etter 31. desember 2014.
Vesentlige endringer i
den finansielle stilling
eller markedsposisjon
etter perioden som
omfattes av den
historiske finansielle
informasjonen
Ikke aktuelt. Det har ikke vært noen vesentlige endringer i Utstederens
finansielle stilling eller markedsstilling etter 31. desember 2014.
B.13
Hendelser av nyere
dato som er vesentlig
for vurdering av
Utsteders soliditet
Ikke aktuelt. Ingen nyere hendelser av betydning for vurderingen av
Utstederens solvens har inntruffet.
B.14
Beskrivelse av
Utstederens eventuelle
avhengighet av andre
selskaper i konsernet
Se Post (EN: Element) B.5 ovenfor for redegjørelse av Utstederens posisjon
i Konsernet.
Beskrivelse av
SG Issuers primære virksomhet er å skaffe finansiering ved å utstede
B.15
SG Issuer er avhengig av Société Générale Bank & Trust i konsernet.
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Utstederens primære
virksomhet
gjeldsinstrumenter til profesjonelle og ikke-profesjonelle kunder gjennom
distributører knyttet til Société Générale. Finansieringen som er skaffet
gjennom utstedelse av gjeldsinstrumentene blir deretter gitt som lån til
Société Générale og andre selskaper tilknyttet Konsernet.
B.16
Utsteders kunnskap
SG Issuer er et 100 prosent eiet datterselskap av Société Générale Bank &
om Utstederen er
Trust S.A. som igjen er et 100 prosent eiet datterselskap av Société
direkte eller indirekte
Générale. SG Issuer er et konsolidert selskap i Konsernet.
eiet eller kontrollert, og
angivelse av eieren(e)
og eierskapets
karakter
B.18
Garantiens art og
omfang
Notene er ubetinget og ugjenkallelig garantert av Société Général
(Garantisten) (EN: the Guarantor) i henhold til Garantien (EN: the
Guarantee) datert 28. Oktober 2014.
Garantien utgjør en direkte, ubetinget, usikret og generell plikt for
Garantisten og er likestilt med og vil likestilles med alle de øvrige
eksisterende og fremtidige direkte, ubetingede og usikrede generelle
forpliktelser Garantisten har og vil få i fremtiden, inkludert
innskuddsgarantier.
B.19
Informasjon om
garantisten som om
garantisten var
utsteder av same type
verdipapir som er
gjenstand for garantien
Informasjonen om Société Générale som om Société Générale var
Utstederen av samme type Noter som er gjenstand for Garantien, er gitt
nedenfor i samsvar med henholdsvis avsnitt B.19 / B.1, B.19 / B.2, B.19 /
B.4b, B.19 / B.5, B.19 / B.9, B.19 / B.10, B.19 / B.12, B.19 / B.13, B.19 /
B.14, B.19 / B.15, B.19 / B.16:
B.19/ B.1: Société Générale
B.19/ B.2: Forretningsadresse: 29, boulevard Haussmann, 75009 Paris,
Frankrike. Selskapsform: Fransk Allmennaksjeselskap (société anonyme).
Lovgivningen som Utstederen er underlagt: Fransk rett. Stiftelsesland:
Frankrike.
B.19/ B.4b:
2014 var nok et økonomisk utfordrende år, med en moderat vekst som
varierte for ulike regioner. Det er forventet at denne trenden vil fortsette i
2015, som tilsynelatende ser ut til å bli et år med lavere global økonomisk
vekst enn forventet og med utallige usikkerheter både med hensyn til
geopolitiske forhold, råvaremarkedet og valutamarkedet.
Eurosonen sliter med å vende tilbake til en mer dynamisk vekst, hvilket
avdemper statenes arbeid med reduksjon av statlig underskudd. Renten bør
forbli på rekordlave nivåer, mens deflasjonsrisikoen holdes under kontroll
gjennom tiltak fra ESB, som har annonsert at den vil implementere en mer
tilpasningsdyktig pengepolitikk og bruke sin balanse for å bidra til økonomisk
vekst. Svekkelsen av euroen og fallende oljepriser bør bidra til økt eksport
og stimulere den innenlandske etterspørselen. Det forventes at den
amerikanske økonomien holder seg på et positivt spor og det er forventet at
den amerikanske sentralbanken (EN: Fed) strammer inn pengepolitikken
etter andre kvartal. Fremvoksende økonomier har påbegynt en fase med
mer moderat vekst, noe som særlig gjelder Kina. Russlands økonomi sliter
med konsekvensene av den ukrainske krisen kombinert med fall i råvare
prisene.
Fra et regulatorisk ståsted, så man gjennomføringen av Bankunionen (EN:
Banking Union) i 2014. Den europeiske sentralbanken implementerte en
Felles Tilsynsmekanisme (EN: Single Supervisory Mechanism), og fører
dermed tilsyn med rundt 130 banker i eurosonen, med siktemål om å styrke
banksystemet, gjenopprette tillit til økonomiske aktører, harmonisere reglene
for banktilsyn og redusere koblingen mellom bankene og deres nasjonale
myndigheter.
Konsernet kan allerede nå møte kravene til de regulatoriske forholdstall.
B.19/ B.5:
Konsernet tilbyr et bredt spekter av rådgivningstjenester og skreddersydde
finansielle løsninger til enkeltkunder, store selskaper og institusjonelle
investorer. Konsernet baserer seg på tre komplementære
kjernevirksomheter:
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• Banktjenester rettet mot personmarkedet i Frankrike;
• Internasjonale banktjenester rettet mot personmarkedet, finansielle
tjenester og forsikring
• Bedrifts- og investeringsbankvirksomhet, private banking, kapital- og
formuesforvaltning og verdipapirtjenester.
B.19/ B.9:
Ikke aktuelt. Utstederen lager ikke lønnsomhetsprognoser eller estimater.
B.19/B.10:
Ikke aktuelt. Revisjonsberetningene inneholder ingen slike forbehold.
B.19/B.12:
Kvartal 2 Årsslutt Kvartal 2 Årsslutt
– 2015
2014
– 2014
2013
(ikke
(revidert,
(ikke
(revidert)
revidert)
med
revidert)
(1)
unntak
hvor annet
fremgår (*))
Resultater (i EUR M)
Netto
Bankvirksomhet
inntekt
13,222
11,556
22,433
2,232 (*)
2,336
1,404 (*)
2,394
1,248 (*)
2,044
639 (*)
1,196
(9) (*)
983
1, 909 (*) 1, 031 (*)
1,206
23, 561
Driftsinntekter
3,319
4, 557 (*)
Netto inntekter før ikkekontrollert virksomhet
2,421
Netto inntekter
2,219
2, 978 (*)
2, 679 (*)
Banktjenester rettet mot
personmarkedet
i
Frankrike
692
Internasjonale
banktjenester rettet mot
personmarkedet
og
finansielle tjenester
451
Global
Banking
Investorløsninger
Konsernsenteret
og
1, 204 (*)
370 (*)
1,213
(137)
Netto risikokostnad
(804) (*)
(1,337)
(413) (*)
(1,341)
(1419) (*)
(4,050)
66.2% (*)
67.0%
(2, 967)
Utgifter/inntekter
forholdstall (2)
64.8%
68% (*)
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Egenkapitalavkastning
[EN ROE] etter skatt (3)
Tier 1 forholdstall
9.1%
5.3%
5.1% (*)
4.1%
12.7%
12.6%
12.5%
11.8%
1,359.5
1,308.2
1, 322.6
1,214.2
Kundelån
370.2
344.4
336.2
332.7
Kundeinnskudd
377.2
349.7
341.8
334.2
Aktivitet (i EUR mrd.)
Totale
aktiva
forpliktelser
og
Egenkapital (i milliarder
euro)
Aksjeeieres
(Konsern)
egenkapital
56.1
55.2
53.3
50.9
Total
egenkapital
konsolidert
59.6
58.8
55.9
54.0
22,255
(10,183)
(13,148)
(981)
Kontantstrømoppstilling
(i milliarder euro)
Netto
innbetaling
(utbetaling) i kontanter og
kontantekvivalenter
(1) Poster knyttet til resultatene for 2013 er omarbeidet som følge av
implementeringen av IFRS 10 og 11.
(2) ekskludert reevaluering av egne økonomiske forpliktelser og verdijustert
gjeld, PEL/CEL og 50 % IFRIC 21.
(3) Konsernets rentabilitet på egenkapitalen beregnet uten hensyn til ikkeøkonomiske poster, kollektiv avsetning for søksmål, PEL/CEL og justert for
effekten av IFRIC 21. Korrigeringer knyttet til IFRIC 21 justerer for hvert
kvartal for 25 % av pålagt skatt i H1 med hensyn til hele regnskapsåret.
Rentabilitet på egenkapitalen i absolutte termer i H1 14:5.1 % i 2. kvartal 14:
9.3 %.
(*) Merk at data for regnskapsåret 2014 er omarbeidet grunnet
implementering av IFRIC 21-standarden den 1. januar 2015, hvilket
resulterte i offentliggjøring av tilpasset data for forrige regnskapsår.
Det har ikke vært noen vesentlige negative endringer i Utstederens
framtidsutsikter etter 31. desember 2014.
Ikke aktuelt. Det har ikke vært noen vesentlige endringer i Utstederens
finansielle stilling eller markedsstilling etter 31. juni 2015.
B.19/B.13:
Ikke aktuelt. Ingen nyere hendelser av betydning for vurderingen av
Utstederens solvens har inntruffet.
B.19/ B.14:
For Utstederens posisjon i konsernet, se Post B.5 ovenfor.
Société Générale er konsernspissen i konsernet. Société Générale driver
imidlertid sin egen virksomhet; Société Générale opptrer ikke kun som
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holding selskap vis-à-vis sine datterselskap.
B.19/ B.15:
Se Post B.19/B.5 ovenfor
B.19/ B.16:
Ikke aktuelt. Société Générale er ikke kjent med at Société Générale er,
direkte eller indirekte (i henhold til fransk rett), eiet eller kontrollert av et
annet foretak.
Avsnitt C – Verdipapirene
C.1
Type og klasse for verdipapirene Notene er derivatinstrumenter indeksert etter aksjer.
som tilbys og/eller opptas til
notering, inkludert
ISIN : XS1236447352
sikkerhetsidentifikasjonsnummer Common Code: 123644735
C.2
Valuta for utstedt verdipapir
NOK
C.5
Beskrivelse av eventuelle
begrensinger i omsetning av
verdipapirene
Med forbehold om salg og overføringsbegrensinger som kan gjelde i
enkelte jurisdiksjoner, er det ingen begrensninger for omsetning av
Notene.
C.8
Rettigheter knyttet til
verdipapirene, herunder
rangering sammenhold med
andre verdipapirer, og
begrensninger knyttet til disse
rettighetene og prosedyre for
utøvelse av disse rettighetene
Rettigheter knyttet til verdipapirene:
Med mindre Notene tidligere er innløst, gjør Notene enhver
Noteinnehaver (en Noteinnehaver) (EN: Noteholder) berettiget til å
motta et innløsningsbeløp som kan være lavere enn, tilsvarende
eller høyere enn beløpet som opprinnelig ble investert (se Post
C.18)
En Noteinnehaver har rett til å umiddelbart kreve ethvert
tilgodehavende beløp i dersom:
- Utstederen ikke betaler eller ikke overholder sine øvrige
forpliktelser etter Notene
- Garantisten ikke overholder sine Garantiforpliktelser eller dersom
Société Générales garanti ikke lenger er gyldig;
- grunnet insolvens eller konkursbehandling som påvirker
Utstederen.
I henhold til bestemmelsene i agentavtalen, som på
Noteinnehaverens forespørsel til Utstederen skal gjøres tilgjengelig
for Noteinnehaveren, skal Noteinnehaverens samtykke innhentes for
å kunne endre Notenes kontraktsvilkår.
- Utstederen godtar den eksklusive domsmyndigheten til engelske
domstoler til fordel for Noteinnehaverne knyttet til enhver tvist
Noteinnehaverne har med Utstederen, men Utstederen godtar også
at Noteinnehaverne bringer sine søksmål for enhver annen
kompetent domstol.
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Ranking:
Notene vil være direkte, ubetingede, usikrede og ikke-etterstående
forpliktelser for Utstederen, og vil likestilles med Utstederens øvrige
nåværende og fremtidige utestående direkte, ubetingede, usikrede
og ikke-etterstående forpliktelser.
Begrensninger i rettigheter knyttet til verdipapirene:
- i tilfelle justeringer som påvirker de(t) underliggende
instrumentet(er) kan Utstederen endre vilkårene og betingelsene,
eller dersom de(t) underliggende instrumentet(er) påvirkes av
forekomsten av ekstraordinære hendelser, kan Utstederen erstatte
de(t) underliggende instrumentet(er) med nye underliggende
instrument(er), realisere hele eller deler av forfalte beløp til Notenes
forfallsdato inntreffer, utsette Notenes forfallsdato, førtidig innløse
Notene på basis av Notenes markedsverdi, eller gjøre fradrag for
økte sikringskostnader i ethvert forfalt beløp, og under enhver
omstendighet, uten Noteinnehavernes samtykke;
- kan Utstederen, av skattemessige eller regulatoriske årsaker,
førtidig innløse Notene basert på Notenes markedsverdi dersom
forholdstallet mellom utestående Noter og opprinnelig antall utstedte
Noter er lavere enn 10 %;
- rett til utbetaling av hovedstolen og renter vil blir foreskrevet innen
ti år for utbetaling av hovedstolen og innen fem år for utbetaling av
renter, fra og med den dato disse utbetalingene forfalt for første
gang uten å bli utbetalt.
- Dersom Utstederen er i betalingsmislighold, har ikke
Noteinnehaverne rett til å fremme krav om avvikling, underleggelse
av administrasjon eller oppløsning (eller noen andre tilsvarende
krav) av Utstederen. Noteinnehaverne kan imidlertid fremme krav
mot Garantisten for ethvert utestående krav.
Skatt
Alle utbetalinger knyttet til Notene, Kvitteringer (EN: Receipts) og
Kuponger (EN: Coupons) eller under Garantien skal utbetales fri for,
og uten tilbakeholdelse eller fradrag for, nåværende eller fremtidig
skatt, avgifter, beskatning eller myndighets pålagte gebyrer av
enhver art som er pålagt, oppkrevd, innsamlet, tilbakeholdt eller
beskattetav eller på vegne av ethvert Skattejurisdiksjon (EN: Tax
Jurisdiction) med mindre slik tilbakeholdelse eller fradrag er
lovpålagt.
I tilfelle det er lovpålagt å foreta fradrag av eller tilbakeholde et beløp
for, eller på vegne av en Skattejurisdiksjon, skal den aktuelle
Utstederen eller Garantisten, om så er tilfelle, i den utstrekning det
er tillatt etter gjeldende lov, betale det nødvendige tilleggsbeløp slik
at hver enkelt Noteinnehaver, Kvitteringsinnehavar (EN:
Receiptholder) eller Kuponginnehaver (EN: Couponholder), etter
fradraget eller tilbakeholdelsen av skatt, avgifter, beskatninger eller
myndighetspålagte gebyrer, mottar det hele og fulle beløpet som er
forfalt.
Lovvalg
Notene og enhver ikke-kontraktuell forpliktelse som oppstår i
forbindelse med eller i tilknytning til Notene er underlagt, og skal
tolkes i samsvar med, engelsk rett.
C.11 Om de tilbudte verdipapirene er
eller vil bli gjenstand for søknad
om opptak til notering, med
henblikk til distribusjon av
verdipapirene i et regulert
marked eller andre tilsvarende
markeder og angivelse av de
aktuelle markedene
Det vil bli innlevert søknad hvor det søkes om notering for handel på
Luxembourg Stock Exchange.
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C.15 Beskrivelse av hvordan verdien
av investeringen påvirkes av
verdien til underliggende
instrument(er)
Notenes verdi, utbetaling av en automatisk førtidig innløsningsbeløp
for en aktuell automatisk førtidig innløsningsdato og utbetaling av et
innløsningsbeløp på forfallsdatoen til Noteinnehaveren vil avhenge
av resultatene til de(t) underliggende aktivum(a) på den aktuelle
verdsettelsesdatoen(e).
Verdien av Notene avhenger av den positive eller negative
utviklingen til en av eller flere underliggende instrument(er) i
aktivagruppen. Utbetalingsbeløpene fastsettes på basis av vilkåret
som er innfridd (eller ikke innfridd) dersom utviklingen av en eller
flere underliggende instrument(er) i aktivagruppen har en høyere
eller lik utvikling som en forhåndsdefinert resultatbarriere.
C.16 Forfallsdato og siste
avstemningsdag
Notenes forfallsdato er 25/10/2020, og den siste avstemningsdatoen
er den siste verdivurderingsdato.
I henhold til Post C.8 ovenfor og Post C.18 nedenfor kan forfallsdato
endres.
C.17 Oppgjørsmetode for derivat
verdipapirene
Kontant utbetaling
C.18 Hvordan avkastning på derivat
verdipapirene finner sted
Med mindre tidligere innløst, vil avkastningen på finansielle derivater
foregå på følgende måte:
Spesifisert Pålydende (EN: Specified Denomination): NOK 10 000
Rente(r) (EN:Rate(s) of
Interest):
Spesifiserte Periode(r) (EN:
Specified Period(s ))/ Rente
Utbetalingsdato(r) (EN:
Interest Payment Date(s)):
(DD/MM/ÅÅÅÅ)
Indikativ utbetaling 0,8 % på
etterskudd med et minimum på
0,6 %. Endelig Rente(r)
bekreftes senest på
Verdivurderingsdato(0) (EN:
Valuation Date(0)).
I
Rente
Utbetalingsdato
(i)
1
25/11/2015
2
25/12/2015
3
25/01/2016
4
25/02/2016
5
25/03/2016
6
25/04/2016
7
25/05/2016
8
25/06/2016
9
25/07/2016
10
25/08/2016
11
25/09/2016
12
25/10/2016
13
25/11/2016
14
25/12/2016
15
25/01/2017
16
25/02/2017
17
25/03/2017
18
25/04/2017
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19
25/05/2017
20
25/06/2017
21
25/07/2017
22
25/08/2017
23
25/09/2017
24
25/10/2017
25
25/11/2017
26
25/12/2017
27
25/01/2018
28
25/02/2018
29
25/03/2018
30
25/04/2018
31
25/05/2018
32
25/06/2018
33
25/07/2018
34
25/08/2018
35
25/09/2018
36
25/10/2018
37
25/11/2018
38
25/12/2018
39
25/01/2019
40
25/02/2019
41
25/03/2019
42
25/04/2019
43
25/05/2019
44
25/06/2019
45
25/07/2019
46
25/08/2019
47
25/09/2019
48
25/10/2019
49
25/11/2019
50
25/12/2019
51
25/01/2020
52
25/02/2020
53
25/03/2020
54
25/04/2020
55
25/05/2020
56
25/06/2020
57
25/07/2020
58
25/08/2020
59
25/09/2020
60
25/10/2020
Fast Kupong Beløp (EN: Fixed Med mindre tidligere innløst, skal
Coupon Amount):
Utstederen,
på
hver
Renteutbetalingsdato utbetale til
Noteinnehaverne et beløp for
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hver Note som fastsettes av
Beregningsagenten
(EN:
Calculation Agent) på følgende
måte:
Rente x Spesifisert Pålydende
Automatisk Førtidig
Innløsningsbeløp (EN:
Automatic Early Redemption
Amount(s)):
Automatisk Førtidig
Innløsningsdatoen(e):
(DD/MM/ÅÅÅÅ)
Hvis en Automatisk Førtidig
Innløsningshendelse
(EN:
Automatic Early Redemption
Event)
har
inntruffet,
skal
Utstederen, med mindre tidligere
innløst, og med hensyn til hver
enkelt Note, på den Automatisk
Førtidig Innløsningsdatoen (i)
(EN:
Automatic
Early
Redemption Date (i)) (i fra 12 til
59) førtidig innløse Notene i
samsvar med følgende formel:
Automatisk
Førtidig
Innløsningsbeløp(i) = Spesifisert
Pålydende x 100 %
I
Automatisk
Førtidig
Innløsningsdato
(i)
12
25/10/2016
13
25/11/2016
14
25/12/2016
15
25/01/2017
16
25/02/2017
17
25/03/2017
18
25/04/2017
19
25/05/2017
20
25/06/2017
21
25/07/2017
22
25/08/2017
23
25/09/2017
24
25/10/2017
25
25/11/2017
26
25/12/2017
27
25/01/2018
28
25/02/2018
29
25/03/2018
30
25/04/2018
31
25/05/2018
32
25/06/2018
33
25/07/2018
34
25/08/2018
35
25/09/2018
36
25/10/2018
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37
25/11/2018
38
25/12/2018
39
25/01/2019
40
25/02/2019
41
25/03/2019
42
25/04/2019
43
25/05/2019
44
25/06/2019
45
25/07/2019
46
25/08/2019
47
25/09/2019
48
25/10/2019
49
25/11/2019
50
25/12/2019
51
25/01/2020
52
25/02/2020
53
25/03/2020
54
25/04/2020
55
25/05/2020
56
25/06/2020
57
25/07/2020
58
25/08/2020
59
25/09/2020
Endelig Innløsningsbeløp (EN: Med mindre tidligere innløst, skal
Final Redemption Amount):
Utstederen, med hensyn til hver
enkelt Note, innløse Notene på
Forfallsdato (EN: Maturity Date) i
samsvar med følgende
bestemmelser:
Scenario 1:
Hvis WorstPerformance(60) (EN:
WorstPerformance(60)) er
høyere enn eller lik -50 % på
Verdivurderingsdatoen(60), så:
Endelig Innløsningsbeløp=
Spesifisert Pålydende x 100 %
Scenario 2:
Hvis WorstPerfomance(60) er
lavere enn -50 % på
Verdivurderingsdatoen(60), så:
Endelig Innløsningsbeløp=
Spesifisert Pålydende x [100 % +
WorstPerformance(60)]
Definisjoner knyttet til dato(er):
Verdivurderingsdato(0):
(DD/MM/ÅÅÅÅ)
09/10/2015
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Verdivurderingsdato (i);
(i fra 1 til 60)
(DD/MM/ÅÅÅÅ)
i
Verdivurderingsdato
(i)
1
09/11/2015
2
09/12/2015
3
09/01/2016
4
09/02/2016
5
09/03/2016
6
09/04/2016
7
09/05/2016
8
09/06/2016
9
09/07/2016
10
09/08/2016
11
09/09/2016
12
09/10/2016
13
09/11/2016
14
09/12/2016
15
09/01/2017
16
09/02/2017
17
09/03/2017
18
09/04/2017
19
09/05/2017
20
09/06/2017
21
09/07/2017
22
09/08/2017
23
09/09/2017
24
09/10/2017
25
09/11/2017
26
09/12/2017
27
09/01/2018
28
09/02/2018
29
09/03/2018
30
09/04/2018
31
09/05/2018
32
09/06/2018
33
09/07/2018
34
09/08/2018
35
09/09/2018
36
09/10/2018
37
09/11/2018
38
09/12/2018
39
09/01/2019
40
09/02/2019
41
09/03/2019
42
09/04/2019
43
09/05/2019
44
09/06/2019
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C.19 Underliggendes endelige
referansepris
45
09/07/2019
46
09/08/2019
47
09/09/2019
48
09/10/2019
49
09/11/2019
50
09/12/2019
51
09/01/2020
52
09/02/2020
53
09/03/2020
54
09/04/2020
55
09/05/2020
56
09/06/2020
57
09/07/2020
58
09/08/2020
59
09/09/2020
60
09/10/2020
Definisjoner relatert til
Produktet (EN: the Product):
Gjeldende, med forbehold for
bestemmelsene i Tilleggsvilkår
og Betingelser knyttet til Formel
(EN: Additional Terms and
Conditions relating to Formulae)
i Grunnprospektet
WorstPerformance(i)
(i fra 12 til 60)
betyr Minimumet (EN: the
Minimum), for k fra 1 til 4, av
Resultatet(i, k) (EN:
Performance(i, k)), som definert i
vilkår 4.6 i Tilleggsvilkår og
Betingelser knyttet til Formel.
Resultat(i,k)
(i fra 12 til 60)
(k fra 1 til 4)
betyr (S(i, k) / S(0, k)) – 100 %,
som definert i vilkår 4.1 i
Tilleggsvilkår og Betingelser
knyttet til Formel.
S(i,k)
(i fra 12 til 60 eller i=0)
(k fra 1 til 4)
betyr med hensyn til
Verdivurderingsdatoen(i) (EN:
Valuation Date(i)) Sluttkursen
(EN: Closing Price) på
Underliggende(k) (EN:
Underlying(k)) slik som definert i
vilkår 4.0 i Tilleggsvilkår og
Betingelser knyttet til Formel.
Automatisk Førtidig
Innløsningshendelse
Anses å ha inntruffet, slik som
bestemt av Beregningsagenten,
hvis på en Verdivurderingsdato(i)
(i fra 12 til 59),
WorstPerformance(i) er høyere
enn eller lik 0 %.
Se Post C.18 ovenfor.
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Endelig
referansepris:
verdien
av
de(t)
underliggende
instrumentet(er) på den aktuelle verdivurderingsdatoen(e) for
innløsning, med forbehold om forekomsten av bestemte
ekstraordinære hendelser og justeringer som påvirker det
underliggende instrumentet(r).
C.20 Underliggendes art, og hvor
informasjon om underliggende
kan finnes
Underliggendes art er: aksje.
Informasjon om underliggende er tilgjengelig på følgende nettside(r),
og ved forespørsel rettet direkte til Société Général.
k
Selskap
Bloomberg Børs
Ticker
Nettside
1
Staples
Inc
SPLS UW NASDAQ
STOCK
EXCHANGE
www.staples.com
2
Apple Inc AAPL UW NASDAQ
www.apple.com
GLOBAL
SELECT
TEMP_MARKET
3
Tesla
Motors
Inc
4
American AAL UW
Airlines
Group
Inc
TSLA UW NASDAQ
www.teslamotors.com
GLOBAL
SELECT
TEMP_MARKET
NASDAQ
www.aa.com
GLOBAL
SELECT
TEMP_MARKET
Avsnitt D – Risikofaktorer
D.2
Nøkkelinformasjon
om de viktigste
risikofaktorene
som er relatert til
utstederen og
garantisten
Konsernet er eksponer for risikofaktorer som er knyttet til dets
kjernevirksomhet.
Konsernets risikostyringsgruppe har fokus på følgende hovedkategorier av
risiko, der hver av disse hovedkategoriene kan påvirke Konsernets
forretningsvirksomhet, driftsresultater og økonomiske stilling i vesentlig
negative retning:
Kreditt- og motpartsrisiko (inkludert statsrisiko): knytter seg til Konsernets
kunder, utstedere eller andre motparters manglende evne til å innfri sine
økonomiske forpliktelser. Kredittrisiko inkluderer motpartsrisiko i forbindelse
med markedsmessige transaksjoner (erstatningsrisiko) samt aktiviteter knyttet
til verdipapirutstedelse for kunder.
Markedsrisiko: risiko for verditap på finansielle instrumenter forårsaket av
endringer i markedsparametere, markedsparameternes volatilitet og
sammenhenger mellom dem.
Operasjonell risiko: risiko for tap eller sanksjoner som følge av utilstrekkelige
eller sviktende interne prosedyrer eller systemer, menneskelige feil eller
eksterne hendelser;
Strukturell rente- og valutarisiko: risiko for tap eller nedskrivninger i
Konsernets aktiva grunnet rente- og valutasvingninger.
Likviditetsrisiko: risiko for at Konsernet ikke er i stand til å innfri sine kontantog kausjonsforpliktelser til en rimelig pris.
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Garantien stifter en generell og usikret kontraktuell forpliktelse som kun gjelder
for Garantisten og ingen andre, enhver utbetaling knyttet til Notene er også
avhengig av Garantistens kredittverdighet.
Potensielle Note investorer som nyter godt av Garantien må merke seg at i
tilfelle en Utsteder er i betalingsmislighold er Noteinnehaverens rett begrenset
til de krav Noteinnehaveren kan kreve under Garantien og av de aktuelle
Garantivilkårene. Noteinnehaverne har ikke rett til å igangsette noen prosess,
verken juridiske eller andre prosessformer, eller fremsette krav mot
Utstederen, og kun i tilknytning til Sikrede Noter (EN: Secured Notes)
begrenset til de summer som er oppnådd ved tvangsfullbyrdelse av relevante
Panteavtaler (EN: Pledge Agreement).
Garantien er kun en betalingsgaranti og ikke en garanti for den aktuelle
Utstederens ytelse. Garantien er heller ikke en garanti for Utstederens
etterlevelse av noen av de øvrige forpliktelser som følger av Notene som
Garantien er utstedt til fordel for.
I noen tilfeller dekker Garantien kun deler av den aktuelle Utstederens
betalingsforpliktelser som følger av den aktuelle Noteserien (EN: Series of
Notes). Ved et slikt tilfelle har Noteinnehaverne risikoen for at utbetaling under
Garantien er mindre enn det beløp som Utstederen etter Noten plikter å betale.
Société Générale vil opptre som utsteder under Programmet (EN:
Programme), som Garantist for Notene utstedt av Utstederen og som
leverandør av sikringsinstrumenter til Utstederen. Følgelig vil investorene ikke
kun være utsatt for Garantistens kredittrisiko, men også for operasjonell risiko
som oppstår som følge av Garantistens manglende uavhengighet når
Garantisten innfrir sitt ansvar og sine forpliktelser som både Garantist og
leverandør av sikringsinstrumenter.
De potensielle interessekonflikter og operasjonelle risikoer som oppstår som
følge av manglende uavhengighet er delvis forsøkt avhjulpet ved at ulike
avdelinger hos Garantisten vil være ansvarlig for å etterleve Garantien og for
levering av sikringsinstrumenter, og hver avdeling drives som en separat
operasjonell enhet som er adskilt av Chinese Walls (informasjonssperrer), og
ledes av ulike ledergrupper.
Utstederen og Garantisten og deres datterselskaper og/eller tilknyttede
selskaper kan i forbindelse med sin øvrige forretningsvirksomhet, være i
besittelse av eller tilegne seg vesentlig informasjon om de underliggende
aktiva. Slike aktiviteter og informasjon kan føre til uheldige konsekvenser for
Noteinnehaverne.
Utstederen, Garantisten og hvilket som helst av deres datterselskaper og/eller
tilknyttede selskaper kan opptre i andre roller med hensyn til Notene, slik som
markedspleier, beregningsagent eller agent. Følgelig er det mulighet for at
interessekonflikter oppstår.
I forbindelse med Notetilbudet kan Utstederen og Garantisten og/eller deres
tilknyttede selskaper inngå en eller flere sikringstransaksjoner med hensyn til
et referanseaktivum (aktiva) eller tilknyttede derivater, som kan påvirke
markedsprisen, likviditeten og/eller verdien av Notene.
D.6
Nøkkelinformasjon
om sentrale
risikofaktorer for
verdipapiret samt
advarsel om risiko
for å tape hele eller
deler av
investeringen
Notene kan lede til en automatisk førtidig innløsning knyttet til en bestemt
hendelse. Dette kan forhindre Noteinnehaveren fra å dra fordel av resultatene
til underliggende instrument(er) gjennom hele den opprinnelige forutsatte
perioden.
Notenes vilkår og betingelser kan inneholde bestemmelser som, ved
forekomsten av nærmere bestemte markedsforstyrrelser, forsinker
Noteoppgjøret, eller som tilsier at enkelte endringer kan gjøres. Videre, ved
inntrufne hendelser som påvirker det underliggende instrumentet(er) tillater
Notenes vilkår og betingelser Utstederen å erstatte det underliggende
instrumentet(er) med nye underliggende instrument(er), la eksponeringen til
det underliggende instrumentet(er) opphøre og anvende en referansesats for
innhentede inntekter frem til Notenes forfallsdato, utsette Notenes forfallsdato,
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førtidig innløse Notene på basis av Notenes markedsverdi, eller gjøre fradrag
for økte sikringskostnader i ethvert forfalt beløp. Samtlige forannevnte
alternative handlinger kan utføres uten at Noteinnehaverens samtykke må
innhentes.
Noteutbetalinger (uavhengig av om det er hovedstol og/eller renter og
uavhengig av om forfall har inntruffet eller ikke) er beregnet etter referanse til
bestemte underliggende aktiva, fortjeneste på Notene er basert på endringer i
verdien av underliggende aktiva, hvilket kan svinge. Potensielle investorer bør
være oppmerksomme på at Notene kan være volatile, at de kanskje ikke
mottar noen renter og at de kan tape hele eller en vesentlig del av
hovedstolen.
Investering i Noter, inkludert fast rente, innebærer risiko knyttet til svingninger i
markedsverdien som kan ha en negativ effekt på Notenes verdi.
Under Notenes levetid, kan markedsverdien av Notene være lavere enn
investert kapital. Videre kan insolvens hos Utstederen og/eller Garantisten føre
til tap av all investert kapital.
Investorene gjøres oppmerksom på at de kan tape hele eller deler av sin
investering.
Avsnitt E – Tilbudet
E.2.b
Bakgrunn for
utstedelsen og
bruk av
fortjenesten
Netto fortjenesten fra utstedte Noter vil bli benyttet for Société Générale
konsernets generelle finansieringsformål, hvilket inkluderer å skape profitt for
Société Générale.
E.3
Beskrivelse av
vilkår og
betingelser for
utstedelsen
Offentlig Utstedelses Jurisdiksjon(er) (EN: Public Offer Jurisdiction(s)):
Norge
Tilbudsperiode: fra 31/08/2015 til 02/10/2015
Utstedelses Pris (EN: Offer Price): Notene vil bli tilbudt til Tegningskursen
(EN: Issue Price) i tillegg til avgifter, om noen, slik som beskrevet nedenfor:
Vilkår for utstedelsen: Utstedelsen er betinget av Notenes egne betingelser,
med tillegg til de alminnelige betingelsene, om noen, til finansielle
mellommenn, som investorene er opplyst om av de aktuelle finansielle
mellommenn.
Utstederen forbeholder seg en ubetinget rett til å avslutte Tilbudsperioden før
utløpet av den nevnte Tilbudsperioden.
Utstederen forbeholder seg en ubetinget rett til å, på eller før Utstedelsesdato
(EN: Issue Date), tilbakekalle tilbudet eller kansellere utstedelse av Notene.
For ordens skyld opplyses det om at dersom en potensiell investor har tegnet
tegningsskjema og Utstederen tilbakekaller tilbudet eller kansellerer
utstedelsen på eller før Utstedelsesdatoen, mister investoren retten til å tegne
Notene eller på noen annen måte tilegne seg Notene.
Melding om tilbakekall av tilbudet eller kansellering av utstedelsen vil legges ut
på Utstederens nettside (http://prospectus.socgen.com).
E.4
Beskrivelse av
interesser som er
av vesentlig
betydning for
utstedelsen/tilbud,
Med unntak av eventuelle gebyrer som utbetales til forhandlere er ikke
Utstederen kjent med at noen av partene som er involvert i utstedelsen av
Notene har en vesentlig interesse av tilbudet.
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herunder
interessekonflikter
E.7
Estimerte
kostnader belastet
investoren av
Utstederen eller
tilbyderen
Investoren vil belastes med opp til 3 % av Tegningskursen i kostnader pr.
Note. Kostnadene skal betales til Garantum Fondkommission AB eller agent
oppnevnt av Garantum Fondkommission AB.
- 50 T-KFRLOFCABWCBCSPS001
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