1 / 17
FINAL VERSION APPROVED BY THE ISSUER
FINAL TERMS FOR NOTES
The Issuer accepts responsibility for this unsigned document in PDF format dated on the date mentioned below that is the final version of the Final Terms relating to the Securities described herein
FINAL TERMS DATED AS OF 6 JULY 2026
BNP Paribas Issuance B.V.
(incorporated in The Netherlands)
(as Issuer)
Legal entity identifier (LEI): 7245009UXRIGIRYOBR48
BNP Paribas
(incorporated in France)
(as Guarantor)
Legal entity identifier (LEI): R0MUWSFPU8MPRO8K5P83 Issue of EUR 30,000,000 "Index Linked Securities" due 2 October 2036
ISIN Code: FR0014019JJ6
under the Note, Warrant and Certificate Programme of BNP Paribas Issuance B.V., BNP Paribas and BNP Paribas Fortis Funding The Base Prospectus received approval no. 26 -151 on 21 May 2026
BNP Paribas Financial Markets S.N.C.
(as Manager)
Any person making or intending to make an offer of Notes may only do so in circumstances in which no obligation arises for the Issuer, the Guarantor or any Manager to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or to supplement a prospectus pursuant to Article 23 of the Prospectus Regulation, in each case, in relation to such offer.
None of the Issuer, the Guarantor or any Manager has authorised, nor do they authorise, the making of any offer of Securities in any other circumstances.
2 / 17
PART A – CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 21 May 2026, each Supplement to the Base Prospectus published and approved on or before the date of these Final Terms and any other Supplement to the Base Prospectus which may have been published and approved before the issue of any additional amount of Securities (the " Supplements ") (provided that to the extent any such Supplement (i) is published and approved after the date of these Final Terms and (ii) provides for any change to the Conditions of the Securities such changes shall have no effect with respect to the Conditions of the Securities to which these Final Terms relate) which togeth er constitute a base prospectus for the purposes of Regulation (EU) 2017/1129, as amended (the " Prospectus Regulation ") (the " Base Prospectus "). This document constitutes the Final Terms of the Securities described herein for the purposes of the Prospectus Regulation and must be read in conjunc tion with the Base Prospectus to obtain all the relevant information. A summary of the Securities is annexed to these Final Terms. The Base Prospectus and, any Supplement(s) to the Base Prospectus and these Final Terms are available for viewing at 1, Rue Laffitte, 75009, Paris, France and https://rates -
globalmarkets.bnpparibas.com/documents/legaldocs/resourceindex.htm .
References herein to numbered Conditions are to the terms and conditions of the relevant series of Securities and words and expressions defined in such terms and conditions shall bear the same meaning in these Final Terms in so far as they relate to such s eries of Securities, save as where otherwise expressly provided.
1. Issuer:
BNP Paribas Issuance B.V.
2. Guarantor:
BNP Paribas.
3. Trade Date, Series Number and
Tranche Number:
(a) Trade Date:
22 June 2026 (b) Series Number:
EI3814AEL
(c) Tranche Number:
1 4. Issue Date, Interest Commencement Date and Maturity Date:
(a) Issue Date:
6 July 2026 (b) Maturity Date:
2 October 2036
Business Day Convention for Maturity Date: Following 5. Aggregate Nominal Amount and
Issue Price:
(a) Aggregate Nominal Amount – Series:
EUR 30,000,000
(b) Aggregate Nominal Amount – Tranche:
EUR 30,000,000
(c) Issue Price of Tranche:
100 per cent. of the Aggregate Nominal Amount of the applicable Tranche.
6. Type of Securities:
(a) Notes
(b) Redemption/Payment Basis:
Index Linked Redemption
(c) Interest Basis:
Non-interest bearing
(d) The provisions of Annex 2 (Additional Terms and Conditions for Index Securities) shall apply.
Tax Gross -up: Condition 6.3 ( No Gross -up) applicable
3 / 17 7. Form of Securities:
Dematerialised bearer form ( au porteur ).
Talons for future Coupons or Receipts to be attached to definitive Notes (and dates on which such Talons mature):
No.
Identification information of Holders as provided by Condition 1 in relation to French Law Securities: Applicable.
8. Business Days/Payment Days:
(a) Additional Business
Centre(s) (Condition
3.12):
The applicable Additional Business Centre for the purposes of the definition of "Business Day" in Condition 3.12 is T2.
(b) Financial Centre(s) or other special provisions relating to Payment Days for the purposes of
Condition 4(a):
T2.
9. Settlement:
Settlement will be by way of cash payment (Cash Settled Securities).
10. Specified Denomination and
Calculation Amount:
(a) Specified
Denomination(s):
EUR 1,000
(b) Calculation Amount:
EUR 1,000
11. Variation of Settlement:
Not applicable.
12. Final and Early Redemption
Amount:
(a) Final Redemption
Amount:
Final Payout.
(b) Final Payout:
SPS Payouts:
Auto -Callable Products
Autocall Standard Securities:
Calculation Amount multiplied by:
(A) if FR Barrier Value is greater than or equal to the Final Redemption Condition Level, 100% + FR Exit Rate; or
(B) if FR Barrier Value is less than the Final Redemption Condition Level and no Knock -in Event has occurred, 100% + Coupon Airbag Percentage; or
(C) if FR Barrier Value is less than the Final Redemption Condition Level and a Knock -in Event has occurred, Min (100%, Final Redemption Value).
Strike Price Minimum Value: Applicable.
Where:
Coupon Airbag Percentage means 0.00 per cent.
4 / 17 Final Redemption Condition Level means 90 per cent.
Final Redemption Value means the Underlying Reference Value.
FR Barrier Value means, in respect of a SPS FR Barrier Valuation Date, the Underlying Reference Value.
FR Exit Rate means the FR Rate.
FR Rate means 120 per cent.
SPS FR Barrier Valuation Date means the Valuation Date.
SPS Redemption Valuation Date means the Valuation Date.
SPS Valuation Date means the SPS Redemption Valuation Date, the SPS FR Barrier Valuation Date or the relevant Strike Day, as applicable.
Strike Days has the meaning given in the below table:
t Strike Days t 1 22 June 2026 2 18 September 2026
Strike Period means the period from and including 22 June 2026 to and including 18 September 2026.
Underlying Reference has the meaning given to such term in item 25(a).
Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Closing Level in respect of such day.
Underlying Reference Strike Price means, in respect of an Underlying Reference, the lowest Underlying Reference Closing Price Value for such Underlying Reference for all the Strike Days in the Strike Period.
Underlying Reference Value means, in respect of an Underlying Reference and a SPS Valuation Date, (i) the Underlying Reference Closing Price Value for such Underlying Reference in respect of such SPS Valuation Date (ii) divided by the Underlying Reference Strike Price.
Valuation Date means the Redemption Valuation Date.
(c) Early Redemption
Amount:
Market Value less Costs.
13. Relevant Asset(s):
Not applicable.
14. Entitlement:
Not applicable.
15. Exchange Rates:
(a) Exchange Rate:
Not applicable.
(b) Specified Exchange
Rate/Settlement
Currency Exchange
Rate:
Specified Exchange Rate: Not applicable.
Settlement Currency Exchange Rate: Not applicable.
5 / 17 16. Specified Currency and Settlement
Currency:
(a) Specified Currency:
EUR as defined in the definition of "Relevant Currency" in Condition 13 (Definitions).
(b) Settlement Currency:
EUR as defined in the definition of "Relevant Currency" in Condition 13 (Definitions).
17. Syndication:
The Securities will be distributed on a non -syndicated basis.
18. Minimum Trading Size:
EUR 1,000
19. Principal Security Agent:
BNP Paribas Financial Markets S.N.C.
20. Registrar:
Not applicable.
21. Calculation Agent:
BNP Paribas Financial Markets S.N.C.
Address (for the purpose of the Noteholder Account Information Notice):
20 boulevard des Italiens 75009 Paris, France 22. Governing law:
French Law
23. Masse provisions (Condition 18):
Full Masse shall apply
Name and address of the Representative:
SELARL MCM AVOCAT
10 Boulevard Malesherbes, 75008 Paris, France Tel: +33 1 53 43 36 00 Fax: +33 1 53 43 36 01 E-mail: rmo@avocat -mcm.com
Name and address of the alternate Representative:
Maître Philippe MAISONNEUVE
Avocat
10 Boulevard Malesherbes, 75008 Paris, France Tel: +33 1 53 43 36 00 Fax: +33 1 53 43 36 01
The nomination of the Representative shall not be effective where there is only one Holder of the Securities. If the Securities are held by more than one Holder at any time prior to redemption, then the role of the Representative becomes effective from suc h time and remuneration of EUR 275 per year shall become payable.
PRODUCT SPECIFIC PROVISIONS FOR REDEMPTION
24. Hybrid Linked Redemption Notes:
Not applicable.
25. Index Linked Redemption Notes:
Applicable.
(a) Index/Basket of
Indices/Index
Sponsor(s):
Solactive North America Gold Miners Top 20 Index 50 Decrement (the "Index" or "Underlying Reference" ).
The relevant Index Sponsor is .
Screen Page: Bloomberg Code: GOLDM50 Index.
The Solactive North America Gold Miners Top 20 Index 50 Decrement is a Multi -Exchange Index.
(b) Index Currency:
EUR
(c) Exchange(s):
The relevant Exchange is as set out in the Conditions.
6 / 17 (d) Related Exchange(s):
All Exchanges
(e) Exchange Business Day:
Single Index Basis
Exchange/ Related Exchange: Applicable (f) Scheduled Trading Day:
Single Index Basis
Exchange/ Related Exchange: Applicable
(g) Weighting:
Not applicable
(h) Settlement Price:
Official closing level (i) Specified Maximum Days
of Disruption:
Eight (8) Scheduled Trading Days.
(j) Valuation Time:
As per the Conditions (k) Redemption Valuation
Date:
18 September 2036 (l) Redemption on Occurrence of an Index
Adjustment Event:
Delayed Redemption on Occurrence of an Index Adjustment Event: Not
applicable
(m) Index Correction Period:
As per Conditions (n) Additional provisions applicable to Custom
Indices:
Not applicable
(o) Additional provisions applicable to Futures
Price Valuation:
Not applicable
26. Share Linked Redemption Notes/ETI Share Linked Redemption Notes:
Not Applicable.
27. ETI Linked Redemption Notes:
Not applicable.
28. Debt Linked Redemption Notes:
Not applicable.
29. Commodity Linked Redemption
Notes:
Not applicable.
30. Inflation Index Linked Redemption
Notes:
Not applicable.
31. Currency Linked Redemption Notes:
Not applicable.
32. Fund Linked Redemption Notes:
Not applicable.
33. Futures Linked Redemption Notes:
Not applicable.
34. Credit Securities:
Not applicable.
35. Underlying Interest Rate Linked
Redemption Notes:
Not applicable.
36. Partly Paid Notes:
The Securities are not Partly Paid Notes.
37. Instalment Notes:
Not applicable.
38. Illegality (Condition 10.1) and Force Majeure (Condition 10.2):
Illegality: redemption in accordance with Security Condition 10.1(d).
Force Majeure: redemption in accordance with Security Condition 10.2(b).
39. Additional, Optional Additional and CNY Payment Disruption Events:
(a) Additional Disruption Events and Optional (a) Additional Disruption Events: Applicable.
7 / 17
Additional Disruption
Events:
(b) The following Optional Additional Disruption Events apply to the
Securities:
Administrator/Benchmark Event
(c) Redemption:
Delayed Redemption on Occurrence of an Additional Disruption Event and/or Optional Additional Disruption Event: Not applicable.
(b) CNY Payment Disruption
Event:
Not applicable.
40. Knock -in Event:
Applicable.
"less than".
(a) SPS Knock -in Valuation:
Applicable.
Strike Price Minimum Value: Applicable.
Where:
Knock -in Value means the Underlying Reference Value.
SPS Valuation Date means the Knock -in Determination Day.
Strike Day has the meaning given at item 12(b).
Strike Period has the meaning given at item 12(b).
Underlying Reference has the meaning given to such term in item 25(a) above.
Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Closing Level in respect of such day.
Underlying Reference Strike Price means, in respect of an Underlying Reference, the lowest Underlying Reference Closing Price Value for such Underlying Reference for all the Strike Days in the Strike Period.
Underlying Reference Value means, in respect of an Underlying Reference and a SPS Valuation Date, (i) the Underlying Reference Closing Price Value for such Underlying Reference in respect of such SPS Valuation Date (ii) divided by the Underlying Reference Strike Price.
(b) Level:
Not applicable.
(c) Knock -in Level/Knock -in Range Level/Knock -in Bottom Level/Knock -in
Top Level/Individual
Underlying Reference
Knock -in Level:
Knock -in Level: 40 per cent.
(d) Knock -in Period
Beginning Date:
Not applicable.
(e) Knock -in Period Beginning Date Day
Convention:
Not applicable.
(f) Knock -in Determination
Period:
Not applicable.
8 / 17 (g) Knock -in Determination
Day(s):
Redemption Valuation Date.
(h) Knock -in Period Ending
Date:
Not applicable.
(i) Knock -in Period Ending Date Day Convention:
Not applicable.
(j) Knock -in Valuation Time:
Valuation Time.
(k) Knock -in Observation
Price Source:
Not applicable.
(l) Disruption
Consequences:
Applicable.
41. Knock -out Event:
Not applicable.
ISSUER CALL OPTION, NOTEHOLDER PUT OPTION AND AUTOMATIC EARLY REDEMPTION
42. Issuer Call Option:
Not applicable.
43. Noteholder Put Option:
Not applicable.
44. Automatic Early Redemption:
Applicable.
(a) Automatic Early
Redemption Event:
Standard Automatic Early Redemption – Automatic Early Redemption
Event 1:
"greater than or equal to".
(b) Automatic Early
Redemption Payout:
SPS Automatic Early Redemption Payout:
NA x (AER Redemption Percentage + AER Exit Rate)
Where:
AER Exit Rate means, in respect of a SPS ER Valuation Date, the AER Rate.
AER Redemption Percentage means 111 per cent .
NA means the Calculation Amount.
Settlement Price Date means the Valuation Date.
SPS ER Valuation Date means the Settlement Price Date.
Valuation Date means the relevant Automatic Early Redemption Valuation Date.
(c) Automatic Early
Redemption Date(s):
Each date in the column headed " Automatic Early Redemption Date n" in the table in item 44(h) below.
(d) Automatic Early Redemption Level 1:
90 per cent.
(e) Automatic Early
Redemption Percentage:
Not applicable.
(f) AER Rate:
n x 1 per cent.
Where:
9 / 17
n means, in respect of the related Automatic Early Redemption Valuation Date n and the related Automatic Early Redemption Date n, the number in the column headed "n" in the table below.
(g) AER Exit Rate:
The AER Rate as set out in item 44(f) above.
(h) Automatic Early
Redemption Valuation
Date(s)/Period(s):
Each date in the column headed " Automatic Early Redemption Valuation Date n" in the table below.
n Automatic Early
Redemption Valuation
Date n Automatic Early Redemption Date n 1 20 September 2027 4 October 2027 2 18 October 2027 1 November 2027 3 18 November 2027 2 December 2027 4 20 December 2027 3 January 2028 5 18 January 2028 1 February 2028 6 18 February 2028 3 March 2028 7 20 March 2028 3 April 2028 8 18 April 2028 3 May 2028 9 18 May 2028 1 June 2028 10 20 June 2028 4 July 2028 11 18 July 2028 1 August 2028 12 18 August 2028 1 September 2028 13 18 September 2028 2 October 2028 14 18 October 2028 1 November 2028 15 20 November 2028 4 December 2028 16 18 December 2028 4 January 2029 17 18 January 2029 1 February 2029 18 20 February 2029 6 March 2029 19 19 March 2029 4 April 2029 20 18 April 2029 3 May 2029 21 18 May 2029 1 June 2029 22 18 June 2029 2 July 2029 23 18 July 2029 1 August 2029 24 20 August 2029 3 September 2029 25 18 September 2029 2 October 2029 26 18 October 2029 1 November 2029 27 19 November 2029 3 December 2029 28 18 December 2029 4 January 2030 29 18 January 2030 1 February 2030 30 19 February 2030 5 March 2030 31 18 March 2030 1 April 2030 32 18 April 2030 7 May 2030 33 21 May 2030 4 June 2030 34 18 June 2030 2 July 2030 35 18 July 2030 1 August 2030 36 19 August 2030 2 September 2030 37 18 September 2030 2 October 2030 38 18 October 2030 1 November 2030 39 18 November 2030 2 December 2030 40 18 December 2030 6 January 2031 41 21 January 2031 4 February 2031 42 18 February 2031 4 March 2031 43 18 March 2031 1 April 2031 44 18 April 2031 5 May 2031
10 / 17 45 20 May 2031 3 June 2031 46 18 June 2031 2 July 2031 47 18 July 2031 1 August 2031 48 18 August 2031 1 September 2031 49 18 September 2031 2 October 2031 50 20 October 2031 3 November 2031 51 18 November 2031 2 December 2031 52 18 December 2031 6 January 2032 53 20 January 2032 3 February 2032 54 18 February 2032 3 March 2032 55 18 March 2032 5 April 2032 56 19 April 2032 3 May 2032 57 18 May 2032 1 June 2032 58 21 June 2032 5 July 2032 59 19 July 2032 2 August 2032 60 18 August 2032 1 September 2032 61 20 September 2032 4 October 2032 62 18 October 2032 1 November 2032 63 18 November 2032 2 December 2032 64 20 December 2032 3 January 2033 65 18 January 2033 1 February 2033 66 18 February 2033 4 March 2033 67 18 March 2033 1 April 2033 68 18 April 2033 2 May 2033 69 18 May 2033 1 June 2033 70 21 June 2033 5 July 2033 71 18 July 2033 1 August 2033 72 18 August 2033 1 September 2033 73 19 September 2033 3 October 2033 74 18 October 2033 1 November 2033 75 18 November 2033 2 December 2033 76 19 December 2033 3 January 2034 77 18 January 2034 1 February 2034 78 21 February 2034 7 March 2034 79 20 March 2034 3 April 2034 80 18 April 2034 3 May 2034 81 18 May 2034 1 June 2034 82 20 June 2034 4 July 2034 83 18 July 2034 1 August 2034 84 18 August 2034 1 September 2034 85 18 September 2034 2 October 2034 86 18 October 2034 1 November 2034 87 20 November 2034 4 December 2034 88 18 December 2034 4 January 2035 89 18 January 2035 1 February 2035 90 20 February 2035 6 March 2035 91 19 March 2035 4 April 2035 92 18 April 2035 3 May 2035 93 18 May 2035 1 June 2035 94 18 June 2035 2 July 2035 95 18 July 2035 1 August 2035 96 20 August 2035 3 September 2035 97 18 September 2035 2 October 2035 98 18 October 2035 1 November 2035 99 19 November 2035 3 December 2035
11 / 17 100 18 December 2035 4 January 2036 101 18 January 2036 1 February 2036 102 19 February 2036 4 March 2036 103 18 March 2036 1 April 2036 104 18 April 2036 5 May 2036 105 20 May 2036 3 June 2036 106 18 June 2036 2 July 2036 107 18 July 2036 1 August 2036 108 18 August 2036 1 September 2036
(i) Automatic Early
Redemption Valuation
Time:
Not applicable.
(j) Observation Price
Source:
Index Sponsor as specified in item 25(a).
(k) Underlying Reference
Level 1:
Official close.
(l) Underlying Reference
Level 2:
Not applicable.
(m) SPS AER Valuation:
Applicable:
SPS AER Value 1: Underlying Reference Value.
Strike Price Minimum Value: Applicable.
Where:
Automatic Early Redemption Valuation Date means each date specified as an Automatic Early Redemption Valuation Date n in the table in item 44(h).
SPS Valuation Date means each Automatic Early Redemption Valuation Date.
Strike Days has the meaning given at item 12(b).
Strike Period has the meaning given at item 12(b).
Underlying Reference has the meaning given to such term in item 25(a).
Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Closing Level in respect of such day.
Underlying Reference Strike Price means, in respect of an Underlying Reference, the lowest Underlying Reference Closing Price Value for such Underlying Reference for all the Strike Days in the Strike Period.
Underlying Reference Value means, in respect of an Underlying Reference and a SPS Valuation Date, (i) the Underlying Reference Closing Price Value for such Underlying Reference in respect of such SPS Valuation Date (ii) divided by the Underlying Reference Strike Price.
(n) AER Event 1
Underlying(s):
As set out in item 25(a) above.
(o) AER Event 2
Underlying(s):
Not applicable.
(p) AER Event 1 Basket:
Not applicable.
12 / 17 (q) AER Event 2 Basket:
Not applicable.
(r) Target Automatic Early
Redemption Percentage:
Not applicable.
GENERAL PROVISIONS FOR VALUATION(S)
45. Strike Date, Strike Price, Averaging Date(s), Observation Period and
Observation Date(s):
(a) Strike Days:
As set out in item 12(b).
Strike Price: Not applicable.
(b) Averaging:
Averaging does not apply to the Securities.
(c) Observation Dates:
Not applicable.
(d) Observation Period:
Not applicable.
46. PROVISIONS RELATING TO
INTEREST (IF ANY) PAYABLE
(a) Interest:
Not applicable.
(b) Fixed Rate Provisions:
Not applicable.
(c) Floating Rate Provisions:
Not applicable.
(d) Zero Coupon Provisions:
Not applicable.
PRODUCT SPECIFIC PROVISIONS FOR LINKED INTEREST (IF APPLICABLE)
47. Linked Interest Notes:
Not applicable.
DISTRIBUTION
48. U.S. Selling Restrictions:
Reg. S Compliance Category 2; TEFRA not applicable.
49. Additional U.S. Federal income tax
considerations:
The Securities are not Specified Securities for the purpose of Section 871(m) of the U.S. Internal Revenue Code of 1986.
50. Non-exempt Offer:
Not applicable.
51. Prohibition of Sales:
Not applicable.
(i) Prohibition of Sales to EEA Retail Investors:
Not applicable.
(ii) Prohibition of Sales to UK Retail Investors:
Not applicable.
(iii) Prohibition of Sales to EEA Non Natural
Persons (where
Securities are held in a
retail account):
Not applicable.
(iv) Prohibition of Sales to UK Non Natural Persons (where Securities are held in a retail account):
Not applicable.
PROVISIONS RELATING TO COLLATERAL AND SECURITY
13 / 17 52. Secured Securities other than Nominal Value Repack Securities:
Not applicable.
53. Nominal Value Repack Securities:
Not applicable.
54. Actively Managed Securities:
Not applicable.
Responsibility
The Issuer accepts responsibility for the information contained in these Final Terms. To the best of the knowledge of the Iss uer (who has taken all reasonable care to ensure that such is the case), the information contained herein is in accordance with the facts and does not omit anything likely to affect the import of such information.
14 / 17
PART B - OTHER INFORMATION
1. LISTING AND ADMISSION TO TRADING
Application has been made to list the Securities on the Official List of the Luxembourg Stock Exchange and to admit the Securities for trading on the Luxembourg Stock Exchange's regulated market.
Estimate of total expenses related to admission to trading: EUR 4,950.00.
2. RATINGS
Ratings:
The Notes have not been rated.
3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE OFFER
Save as discussed in the " Potential Conflicts of Interest " paragraph in the " Risks" section in the Base Prospectus, so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer.
4. REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES
(i) Reasons for the offer:
See "Use of Proceeds" in the Base Prospectus.
(ii) Estimated net proceeds:
EUR 30,000,000.00
(iii) Estimated total expenses:
See item 1 of this Part B above.
5. PERFORMANCE OF INDEX AND OTHER INFORMATION CONCERNING THE UNDERLYING REFERENCE OR
REFERENCE RATE
(i). Index source:
Index Website Bloomberg
Screen Page
Solactive North America Gold Miners Top 20 Index 50 Decrement www.solactive.com GOLDM50
Index
(i). Index disclaimer:
Neither the Issuer nor the Guarantor shall have any liability for any act or failure to act by an Index Sponsor in connection with the calculation, adjustment or maintenance of an Index. Except as disclosed prior to the Issue Date, neither the Issuer, the Guarantor nor their affiliates has any affiliation with or control over an Index or Index Sponsor or any control over the computation, composition or dissemination of an Index. Although the Calculation Agent will obtain information concerning an Index from publicly available sources it believes reliable, it will not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by the Issuer, the Guarantor, their affiliates or the Calculation Agent as to the accuracy, completeness and timeliness of information concerning an Index.
The issue of the Securities is not sponsored, endorsed, sold, or promoted by any index to which the return on the Securities is linked (an "Index", including any successor index) or any index sponsor of an Index to which the return on the Securities is lin ked (an "Index Sponsor") and no Index Sponsor makes any representation whatsoever, whether express or implied, either as to the results to be obtained from the use of an Index and/or the levels at which an Index stands at any particular time on any particu lar date or otherwise. No Index or Index Sponsor shall be liable (whether in negligence or otherwise) to any person for any error in an Index and an Index Sponsor is under no obligation to advise any person of any error therein. No Index Sponsor is making any representation whatsoever, whether express or implied, as to the advisability of purchasing or assuming any risk in connection with the Securities. Neither the Issuer nor the Guarantor shall have any liability for any act or failure to act by an Index Sponsor in connection with the calculation, adjustment or maintenance of an Index. Except as disclosed prior to the Issue Date, neither the Issuer, the Guarantor nor their affiliates has any affiliation with
15 / 17 or control over an Index or Index Sponsor or any control over the computation, composition or dissemination of an Index. Although the Calculation Agent will obtain information concerning an Index from publicly available sources it believes reliable, it wil l not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by the Issuer, the Guarantor, their affiliates or the Calculation Agent as to the accuracy, completeness and timeliness of information concerning an Index.
(i). OPERATIONAL INFORMATION
(i) ISIN:
FR0014019JJ6
(ii) Common Code:
342740626
(iii) Valoren:
157427025
(iv) CFI:
DEMVRM
(v) FISN:
BNPPIBV/VARI NT NKG 20361002 IDX
(vi) Any clearing system(s) other than Euroclear and
Clearstream, Luxembourg
and Euroclear France approved by the Issuer and the Principal Paying Agent and the relevant identification
number(s):
Not applicable.
(vii) Delivery:
Delivery against payment.
(viii) Additional Paying Agent(s) (if
any):
Not applicable.
(ix) Intended to be held in a manner which would allow
Eurosystem eligibility:
No. Whilst the designation is specified as "no" at the date of these Final Terms, should the Eurosystem eligibility criteria be amended in the future such that the Securities are capable of meeting them the Securities may then be deposited with one of the ICSDs as common safekeeper. Note that this does not necessarily mean that the Securities will then be recognised as eligible collateral for Eurosystem monetary policy and intra -
day credit operations by the Eurosystem at any time during their life. Such recognition will depend upon the ECB being satisfied that Eurosystem eligibility criteria have been met.
(i). EU BENCHMARKS REGULATION
16 / 17 EU Benchmarks Regulation: Article 29(2) statement on benchmarks: Applicable: Amounts payable under the Securities are calculated by reference to the relevant Benchmark which is provided by the relevant Administrator, as specified in the table below.
As at the date of these Final Terms, the relevant Administrator is included, as the case may be, in the register of Administrators and Benchmarks (the “EU BMR Register ”) established and maintained by the European Securities and Markets Authority (“ ESMA ”) pursuant to article 36 of the Benchmarks Regulation (Regulation (EU) 2016/1011, as amended) (the “EU Benchmarks Regulation ”), as specified in the table below.
As far as the Issuer is aware, the transitional provisions in the EU Benchmarks Regulation apply, such that the relevant Administrator is not currently required to obtain authorisation/registration, provided that it has submitted an application for authori sation, registration, recognition or endorsement (as applicable) and unless and until such application has failed or been refused, as specified in the table below.
Benchmark Administrator Register Solactive North America Gold Miners Top 20 Index 50 Decrement www.solactive.com Included
17 / 17
ANNEX - ISSUE SPECIFIC SUMMARY
Summary
Section A - Introduction and Warnings
Warnings
This summary should be read as an introduction to the Base Prospectus and the applicable Final Terms.
Any decision to invest in any Securities should be based on a consideration of the Base Prospectus as a whole, including any documents incorporated by reference and the applicable Final Terms.
Investors may be exposed to a partial or total loss of their investment.
Where a claim relating to information contained in the Base Prospectus and the applicable Final Terms is brought before a cou rt in a Member State of the European Economic Area, the plaintiff may, under the national legislation of the Member State where the claim is brought, be required to bear the costs of translating the Base Prospectus and the applicable Final Terms before the legal proceedings are initiated.
Civil liability in any such Member State attaches to the Issuer or the Guarantor solely on the basis of this summary, includi ng any translation hereof, but only if it is misleading, inaccurate or inconsistent when read together with the other parts of the Base Prospectus and the applicable Final Terms or it does not provide, when read together with the other parts of the Base Prospectus and the applicable Final Terms, key information in order to aid investor s when considering whether to invest in the Securi ties.
You are about to purchase a product that is not simple and may be difficult to understand.
Name and international securities identification number (ISIN) of the securities
EUR "AVENIR GOLD 2026" Notes linked to Solactive North America Gold Miners Top 20 Index 50 Decrement Index - The securities are Notes. International Securities Identification Number (" ISIN"): FR0014019JJ6.
Identity and contact details of the issuer
BNP Paribas Issuance B.V. (the " Issuer "), Parnassusweg 789, 1082 LZ Amsterdam, the Netherlands (telephone number: +31(0)88 738 0000). The legal entity identifier of the Issuer is 7245009UXRIGIRYOBR48.
Identity and contact details of the offeror and / or person asking for admission to trading
Person asking for admission to trading : BNP Paribas Issuance B.V. (the “Issuer”), Parnassusweg 789, 1082 LZ Amsterdam, the N etherlands (telephone number:
+31(0)88 738 0000).
Identity and contact details of the competent authority approving the prospectus
Autorité des Marchés Financiers (" AMF "), 17, place de la Bourse, 75082 Paris Cedex 02, France - +33(0)1 53 45 60 00 - www.amf -france.org
Date of approval of the prospectus
The Base Prospectus has been approved on 21 May 2026 under the approval number 26 -151 by the AMF, as supplemented from time to time.
Section B - Key information on the issuer
Who is the issuer of the securities?
Domicile / legal form / LEI / law under which the issuer operates / country of incorporation
BNPP B.V. was incorporated in the Netherlands as a private company with limited liability under Dutch law having its register ed office at Parnassusweg 789, 1082 LZ Amsterdam, the Netherlands. Legal entity identifier (LEI): 7245009UXRIGIRYOBR48.
BNPP B.V.'s long term credit rating is A+ with a stable outlook (S&P Global Ratings Europe Limited) and BNPP B.V.'s short ter m credit rating is A -1 (S&P Global Ratings Europe Limited).
Principal activities
The principal activity of the Issuer is to issue and/or acquire financial instruments of any nature and to enter into related agreements for the account of various entities within the BNPP Group.
The assets of BNPP B.V. consist of the obligations of other BNPP Group entities. Holders of securities issued by BNPP B.V. wi ll, subject to the provisions of the Guarantee issued by BNPP, be exposed to the ability of BNPP Group entities to perform their ob ligations towards BNPP B.V.
Major shareholders
BNP Paribas holds 100 per cent. of the share capital of BNPP B.V.
Identity of the issuer's key managing directors
The Managing Directors of BNP Paribas Issuance B.V. are Edwin Herskovic/Cyril Le Merrer/Folkert van Asma/Hugo Peek/Matthew Ya ndle.
Identity of the issuer's statutory auditors
Deloitte Accountants B.V. are the auditors of the Issuer. Deloitte Accountants B.V. is an independent registered audit firm i n the Netherlands. The relevant auditors of Deloitte Accountants B.V. who have signed the independent auditor’s reports incorporate d by reference into the Base Prospectus are members of the Royal Netherlands Institute of Chartered Accountants ( Koninklijke Nederlandse Beroepsorganisatie van Accountants ).
What is the key financial information regarding the issuer?
Key financial information
Income statement
Year Year -1 In € 31/12/2025 31/12/2024 Operating profit/loss 224,204 167,327
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Balance sheet
Year Year -1 In € 31/12/2025 31/12/2024 Net financial debt (long term debt plus short term debt minus cash) 164,334,371,318 124,241,216,005 Current ratio (current assets/current liabilities) 1 1 Debt to equity ratio (total liabilities/total shareholder equity) 29,275 22,860 Interest cover ratio (operating income/interest expense) n.a n.a Cash flow statement Year Year -1 In € 31/12/2025 31/12/2024 Net Cash flows from operating activities -2,184,469 -471,573 Net Cash flows from financing activities 0 4,500,000 Net Cash flows from investing activities 0 0
Qualifications in the audit report
Not applicable, there are no qualifications in any audit report on the historical financial information included in the Base Prospectus.
What are the key risks that are specific to the issuer?
Not applicable. BNPP B.V. is an operating company. The creditworthiness of BNPP B.V. depends on the creditworthiness of BNPP.
Section C - Key Information on the securities
What are the main features of the securities?
Type, class and ISIN
EUR "AVENIR GOLD 2026" Notes linked to Solactive North America Gold Miners Top 20 Index 50 Decrement Index - The securities are Notes. International Securities Identification Number (" ISIN"): FR0014019JJ6.
Currency / denomination / par value / number of securities issued / term of the securities
The currency of the Securities is Euro ("EUR"). The Securities have a par value of EUR 1,000. 30,000 Securities will be issue d. The Securities will be redeemed on 2 October 2036.
Rights attached to the securities
Negative pledge - The terms of the Securities will not contain a negative pledge provision.
Events of Default - The terms of the Securities will contain events of default including non -payment, non -performance or non -observance of the Issuer's or Guarantor's obligations in respect of the Securities; the insolvency or winding up of the Issuer or Guarantor.
Governing law - The Securities are governed by French law.
The objective of this product is to provide you with a return based on the performance of an underlying index.
Unless the product has been redeemed early, the following provisions would apply.
On the Redemption Date you will receive in respect of each note:
1. If the Final Reference Price is greater than or equal to 90% of the Initial Reference Price: a payment in cash equal to 22 0% of the Notional Amount.
2. If the Final Reference Price is less than 90% of the Initial Reference Price:
a. If a Barrier Event has not occurred: a payment in cash equal to the Notional Amount.
b. If a Barrier Event has occurred: a payment in cash equal to the Notional Amount decreased by the Performance of the Underl ying. In this case you will suffer a partial or total loss of the Notional Amount.
Automatic Early Redemption: If, on any Autocall Valuation Date, the closing price of the Underlying is greater than or equal to 90% of the Initial Refere nce Price, the product will be redeemed on the corresponding Early Redemption Date. You will receive for each note a payment in ca sh equal to the Notional Amount plus a premium based on the relevant Exit Rate
Where:
A Barrier Event shall be deemed to occur if the Final Reference Price is below the Barrier.
The Performance of an Underlying is the difference between its Final Reference Price and its Initial Reference Price, divided by its Initial Reference Price, expressed in absolute value.
The Initial Reference Price is the lowest closing price of the Underlying on the Initial Lookback Dates.
The Final Reference Price is the closing price of the Underlying on the Redemption Valuation Date.
Strike Date 22 June 2026 Issue Price 100% Issue Date 06 July 2026 Product Currency EUR Redemption Valuation Date 18 September 2036 Notional Amount (per note) EUR 1,000 Redemption Date (maturity) 02 October 2036
Barrier 40% of the Initial Reference Price Autocall Valuation Date(s) See Annex Early Redemption Date(s) See Annex Exit Rate(s) See Annex Initial Lookback Date(s) 22 June 2026 and 18 September 2026
Underlying Bloomberg Code Solactive North America Gold Miners Top 20 Index 50 Decrement GOLDM50
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ANNEX
Automatic Early Redemption
4 / 7 Autocall Valuation Date(s) Early Redemption Date(s) Exit Rate(s) 20 September 2027 04 October 2027 12% of the Notional Amount 18 October 2027 01 November 2027 13% of the Notional Amount 18 November 2027 02 December 2027 14% of the Notional Amount 20 December 2027 03 January 2028 15% of the Notional Amount 18 January 2028 01 February 2028 16% of the Notional Amount 18 February 2028 03 March 2028 17% of the Notional Amount 20 March 2028 03 April 2028 18% of the Notional Amount 18 April 2028 03 May 2028 19% of the Notional Amount 18 May 2028 01 June 2028 20% of the Notional Amount 20 June 2028 04 July 2028 21% of the Notional Amount 18 July 2028 01 August 2028 22% of the Notional Amount 18 August 2028 01 September 2028 23% of the Notional Amount 18 September 2028 02 October 2028 24% of the Notional Amount 18 October 2028 01 November 2028 25% of the Notional Amount 20 November 2028 04 December 2028 26% of the Notional Amount 18 December 2028 04 January 2029 27% of the Notional Amount 18 January 2029 01 February 2029 28% of the Notional Amount 20 February 2029 06 March 2029 29% of the Notional Amount 19 March 2029 04 April 2029 30% of the Notional Amount 18 April 2029 03 May 2029 31% of the Notional Amount 18 May 2029 01 June 2029 32% of the Notional Amount 18 June 2029 02 July 2029 33% of the Notional Amount 18 July 2029 01 August 2029 34% of the Notional Amount 20 August 2029 03 September 2029 35% of the Notional Amount 18 September 2029 02 October 2029 36% of the Notional Amount 18 October 2029 01 November 2029 37% of the Notional Amount 19 November 2029 03 December 2029 38% of the Notional Amount 18 December 2029 04 January 2030 39% of the Notional Amount 18 January 2030 01 February 2030 40% of the Notional Amount 19 February 2030 05 March 2030 41% of the Notional Amount 18 March 2030 01 April 2030 42% of the Notional Amount 18 April 2030 07 May 2030 43% of the Notional Amount 21 May 2030 04 June 2030 44% of the Notional Amount 18 June 2030 02 July 2030 45% of the Notional Amount 18 July 2030 01 August 2030 46% of the Notional Amount 19 August 2030 02 September 2030 47% of the Notional Amount 18 September 2030 02 October 2030 48% of the Notional Amount 18 October 2030 01 November 2030 49% of the Notional Amount 18 November 2030 02 December 2030 50% of the Notional Amount 18 December 2030 06 January 2031 51% of the Notional Amount 21 January 2031 04 February 2031 52% of the Notional Amount 18 February 2031 04 March 2031 53% of the Notional Amount 18 March 2031 01 April 2031 54% of the Notional Amount 18 April 2031 05 May 2031 55% of the Notional Amount 20 May 2031 03 June 2031 56% of the Notional Amount 18 June 2031 02 July 2031 57% of the Notional Amount 18 July 2031 01 August 2031 58% of the Notional Amount 18 August 2031 01 September 2031 59% of the Notional Amount 18 September 2031 02 October 2031 60% of the Notional Amount 20 October 2031 03 November 2031 61% of the Notional Amount 18 November 2031 02 December 2031 62% of the Notional Amount 18 December 2031 06 January 2032 63% of the Notional Amount 20 January 2032 03 February 2032 64% of the Notional Amount 18 February 2032 03 March 2032 65% of the Notional Amount 18 March 2032 05 April 2032 66% of the Notional Amount 19 April 2032 03 May 2032 67% of the Notional Amount 18 May 2032 01 June 2032 68% of the Notional Amount 21 June 2032 05 July 2032 69% of the Notional Amount 19 July 2032 02 August 2032 70% of the Notional Amount 18 August 2032 01 September 2032 71% of the Notional Amount 20 September 2032 04 October 2032 72% of the Notional Amount 18 October 2032 01 November 2032 73% of the Notional Amount 18 November 2032 02 December 2032 74% of the Notional Amount 20 December 2032 03 January 2033 75% of the Notional Amount 18 January 2033 01 February 2033 76% of the Notional Amount 18 February 2033 04 March 2033 77% of the Notional Amount 18 March 2033 01 April 2033 78% of the Notional Amount 18 April 2033 02 May 2033 79% of the Notional Amount 18 May 2033 01 June 2033 80% of the Notional Amount
5 / 7 21 June 2033 05 July 2033 81% of the Notional Amount 18 July 2033 01 August 2033 82% of the Notional Amount 18 August 2033 01 September 2033 83% of the Notional Amount 19 September 2033 03 October 2033 84% of the Notional Amount 18 October 2033 01 November 2033 85% of the Notional Amount 18 November 2033 02 December 2033 86% of the Notional Amount 19 December 2033 03 January 2034 87% of the Notional Amount 18 January 2034 01 February 2034 88% of the Notional Amount 21 February 2034 07 March 2034 89% of the Notional Amount 20 March 2034 03 April 2034 90% of the Notional Amount 18 April 2034 03 May 2034 91% of the Notional Amount 18 May 2034 01 June 2034 92% of the Notional Amount 20 June 2034 04 July 2034 93% of the Notional Amount 18 July 2034 01 August 2034 94% of the Notional Amount 18 August 2034 01 September 2034 95% of the Notional Amount 18 September 2034 02 October 2034 96% of the Notional Amount 18 October 2034 01 November 2034 97% of the Notional Amount 20 November 2034 04 December 2034 98% of the Notional Amount 18 December 2034 04 January 2035 99% of the Notional Amount 18 January 2035 01 February 2035 100% of the Notional Amount 20 February 2035 06 March 2035 101% of the Notional Amount 19 March 2035 04 April 2035 102% of the Notional Amount 18 April 2035 03 May 2035 103% of the Notional Amount 18 May 2035 01 June 2035 104% of the Notional Amount 18 June 2035 02 July 2035 105% of the Notional Amount 18 July 2035 01 August 2035 106% of the Notional Amount 20 August 2035 03 September 2035 107% of the Notional Amount 18 September 2035 02 October 2035 108% of the Notional Amount 18 October 2035 01 November 2035 109% of the Notional Amount 19 November 2035 03 December 2035 110% of the Notional Amount 18 December 2035 04 January 2036 111% of the Notional Amount 18 January 2036 01 February 2036 112% of the Notional Amount 19 February 2036 04 March 2036 113% of the Notional Amount 18 March 2036 01 April 2036 114% of the Notional Amount 18 April 2036 05 May 2036 115% of the Notional Amount 20 May 2036 03 June 2036 116% of the Notional Amount 18 June 2036 02 July 2036 117% of the Notional Amount 18 July 2036 01 August 2036 118% of the Notional Amount 18 August 2036 01 September 2036 119% of the Notional Amount
Meetings - The terms of the Securities will contain provisions for calling meetings of holders of such Securities to consider matters af fecting their interests generally.
These provisions permit defined majorities to bind all holders, including holders who did not attend and vote at the relevant meeting and holders who voted in a manner contrary to the majority.
Representative of holders - The Holders will, in respect of all Tranches in any Series, be grouped automatically for the defence of their common interest s in a masse (the "Masse"). The Masse will act in part through a representative (the "Representative") and in part through a ge neral meeting of the Holders (the "General Meeting") or decisions taken by written resolution (a "Written Resolution").
The names and addresses of the initial Representative of the Masse and its alternate are:
Name and address of the Representative: SELARL MCM AVOCAT - 10 Boulevard Malesherbes, 75008 Paris, France - Tel: +33 1 53 43 36 00 - Fax: +33 1 53 43 36 01
- Contact : rmo@avocat -mcm.com Name and address of the alternate Representative: Maître Philippe MAISONNEUVE, Avocat - 10 Boulevard Malesherbes, 75008 Paris, France
Seniority of the securities
The Securities are unsubordinated and unsecured obligations of the Issuer and rank pari passu among themselves.
Restrictions on the free transferability of the securities
There are no restrictions on the free transferability of the Securities.
Dividend or payout policy
Not Applicable
Where will the securities be traded?
Admission to trading
Application will be made by the Issuer (or on its behalf) for the Securities to be admitted to trading on the Luxembourg Stoc k Exchange (Regulated Market).
Is there a guarantee attached to the securities?
Nature and scope of the guarantee
The obligations under the guarantee are senior preferred obligations (within the meaning of Article L.613 -30-3-I-3° of the French Code monétaire et financier) and unsecured obligations of BNPP and will rank pari passu with all its other present and future senior preferred and unsecured obligations subject to such exceptions as may from time to time be mandatory under French law.
In the event of a bail -in of BNPP but not BNPP B.V., the obligations and/or amounts owed by BNPP under the guarantee shall be reduced to reflect any such modification or reduction applied to liabilities of BNPP resulting from the application of a bail -in of BNPP by any relevant regulator (including in a situation where the Guarantee itself is not the subject of such bail -in).
6 / 7 The Guarantor unconditionally and irrevocably guarantees to each Holder that, if for any reason BNPP B.V. does not pay any su m payable by it or perform any other obligation in respect of any Securities on the date specified for such payment or performance the Guarantor will, in accordance with the Conditions pay that sum in the currency in which such payment is due in immediately available funds or, as the case may be, perform or procure the performan ce of the relevant obligation on the due date for such pe rformance.
Description of the guarantor
The Securities will be unconditionally and irrevocably guaranteed by BNP Paribas ("BNPP" or the "Guarantor") pursuant to a Fr ench law deed of guarantee executed by BNPP 21 May 2026 (the "Guarantee").
The Guarantor was incorporated in France as a société anonyme under French law and licensed as a bank having its head office at 16, boulevard des Italiens - 75009 Paris, France. Legal entity identifier (LEI): R0MUWSFPU8MPRO8K5P83.
BNPP's long -term credit ratings are A+ with a stable outlook (S&P Global Ratings Europe Limited), A1 with a stable outlook (Moody's Deuts chland GmbH) and AA - with a stable outlook (Fitch Ratings Ireland Limited) (which is the long -term rating assigned to BNPP’s senior preferred debt by Fitch) and BNPP's short -term credit ratings are A -1 (S&P Global Ratings Europe Limited), P -1 (Moody's Deutschland GmbH) and F1+ (Fitch Ratings Ireland Limited).
BNP Paribas SA is the parent company of the BNP Paribas Group (together the " BNPP Group ").
BNP Paribas’ organisation is based on three operating divisions: Corporate & Institutional Banking (CIB), Commercial, Personal Ba nking & Services (CPBS) and Investment & Protection Services (IPS).
Corporate and Institutional Banking (CIB) : Global Banking, Global Markets and Securities Services.
Commercial, Personal Banking & Services (CPBS):
- Commercial & Personal banking in the Euro -zone : Commercial & Personal Banking in France (CPBF), BNL banca commerciale (BNL bc), Commercial & Personal Banking in Italy, Commercial & Personal Banking in Belgium (CPBB) and Commercial & Personal Banking in Luxembourg (CPBL).
- Commercial & Personal Banking outside the Euro -zone, organised around : Europe -Mediterranean, covering Commercial & Personal Banking outside the Euro -zone, in particular in Central and Eastern Europe, Türkiye and Africa.
- Specialised Businesses : BNP Paribas Personal Finance, Arval and BNP Paribas Leasing Solutions, new digital businesses (in particular Nickel, Floa, Lyf) and BNP Paribas Personal Investors.
Investment & Protection Services (IPS): Insurance (BNP Paribas Cardif), BNP Paribas Wealth Management, BNP Paribas Asset Management (strengthened in 2025 by the integration of AXA Investment Managers), BNP Paribas Real Estate and IPS Investments (management of the BNP Paribas Group ’s portfolio of unlisted and listed industrial and commercial investments).
As at 31 December 2025, the main shareholders were Société Fédérale de Participations et d'Investissement ("SFPI") a public -interest société anonyme (public limited company) acting on behalf of the Belgian government state holding 5.7% of the share capital , BlackRock Inc. holding 7.1% of the share capital and Grand Duchy of Luxembourg holding 1.2% of the share capital.
Key financial information for the purpose of assessing the guarantor's ability to fulfil its commitments under the guarantee
Since 1 January 2023, BNP Paribas Group’s insurance entities have applied IFRS 17 « Insurance Contracts » and IFRS 9 « Financ ial Instruments », deferred for these entities until IFRS 17 comes into force.
Income statement
Year Year -1 Interim Comparative interim from same period in prior year In millions of € 31/12/2025 31/12/2024 31/03/2026 31/03/2025 Revenues 51,223 48,831 14,056 12,960 Cost of risk -3,350 -2,999 -922 -766 Costs of legal risks on financial instruments -203 -202 -245 -15 Operating Income 16,296 15,437 4,179 3,922 Net income attributable to equity holders 12,225 11,688 3,217 2,951 Earnings per share (in euros) 10.29 9.57 2.73 2.44
Balance sheet
Year Year -1 Interim Comparative interim from same period in prior year In millions of € 31/12/2025 31/12/2024 31/03/2026 31/03/2025 Total assets 2,792,981 2,704,908 2,931,529 2,802,044 Debt securities 302,391 302,237 311,766 313,163 Of which mid long term Senior Preferred 137,649* 119,370* n.a n.a Subordinated debt 35,289 32,615 33,988 32,546 Loans and receivables from customers (net) 897,358 900,141 915,780 894,201 Deposits from customers 1,075,564 1,034,857 1,093,160 1,027,112 Shareholders' equity (Group share) 125,513 128,137 129,979 130,115 Doubtful loans/ gross outstandings** 1.6% 1.6% 1.6% 1.6% Common Equity Tier 1 capital (CET1) ratio 12.6% 12.9% 12.8%
(CRR3) 12.4%
Total Capital Ratio 17% 17.1% 17.3%
(CRR3) 16.7% (CRR3)
Leverage Ratio 4.5% 4.6% 4.4% 4.4% (*) Regulatory scope (**) Impaired loans (stage 3) to customers and credit institutions, not netted of guarantees, including on -balance sheet and off -balance sheet and including debt securities measured at amortised costs or at fair value through shareholders' equity reported (exc luding insurance) and on gross outstanding loans to customers and credit institutions, on -balance sheet and off -balance sheet and including debt securities measured at amortised costs or at fair value through shareholders' equity (exclud ing insurance) and including the effects of IFRS 5 standard application in relation to Non current assets held for sale.
Most material risk factors pertaining to the guarantor
1. A substantial increase in new provisions or a shortfall in the level of previously recorded provisions exposed to credit risk and counterparty risk could adversely affect the BNP Paribas Group’s results of operations and financial condition 2. The BNP Paribas Group’s risk management policies, procedures and methods may leave it exposed to unidentified or unanticipate d risks, which could lead to material
losses
3. The BNP Paribas Group may incur significant losses on its trading and investment activities due to market fluctuations and vo latility
7 / 7 4. The BNP Paribas Group’s access to and cost of funding could be adversely affected by a resurgence of financial crises, worsen ing economic conditions, rating downgrades, increases in sovereign credit spreads or other factors 5. Adverse economic and financial conditions have in the past and may in the future significantly affect the BNP Paribas Group a nd the markets in which it operates 6. Laws and regulations in force, as well as current and future legislative and regulatory developments, may significantly impac t the BNP Paribas Group and the financial and economic environment in which it operates.
7. Should the BNP Paribas Group fail to implement its strategic objectives or to achieve its published financial objectives, or should its results not follow stated expected trends, the trading price of its securities could be adversely affected.
What are the key risks that are specific to the securities?
Most material risk factors specific to the securities
There are also risks associated with the Securities, including:
1. Risks related to the structure of the securities:
The return on the Securities depends on the performance of the Underlying Reference(s) and whether knock -in or knock out features apply. Auto -callable Products include automatic early redemption mechanisms. Depending on the applicable formula, if an automa tic early redemption event occurs investors may be exposed to a partial loss of their investment. Investors may be exposed to a partial or total loss of their investment.
2. Risks related to the underlying and its disruption and adjustments:
Index Securities are linked to the performance of an underlying index (an "Index"), which may reference various asset classes such as, equities, bonds, currency exchange rates or property price data, or could reference a mixture of asset classes. Investors in Index Securities face the risk of a broader set of circumstances that mean that the assets underlying the Index do not perform as expected compared to an investment in conventional debt securitie s. Accordingly, the return on an investment in Index Secu rities is more likely to be adversely affected than an investment in conventional debt securities.
Exposure to indices, adjustment events and market disruption or failure to open of an exchange may have an adverse effect on the value and liquidity of the Securities.
3. Risks related to the trading markets of the securities:
The trading price of the Securities may be affected by a number of factors including, but not limited to, the relevant price, value or level of the Underlying Reference(s), the time remaining until the scheduled redemption date of the Securities, the actua l or implied volatility associated with the Underlying Reference(s) and the correlation risk of the relevant Underlying Reference(s). The possibility that the value and trading price of the Securities will fluctua te (either positively or negatively) depend s on a number of factors, which investors should consider carefully before purchasing or selling Securities.
4. Legal risks:
The terms of the Securities will contain provisions for calling meetings of holders of such Securities to consider matters af fecting their interests generally. These provisions permit defined majorities to bind all holders, including holders who did not at tend and vote at the relevant meeting and holders who voted in a manner contrary to the majority.
Section D - Key Information on the offer of securities to the public and/or admission to trading on a regulated market
Under which conditions and timetable can I invest in this security?
General terms, conditions and expected timetable of the offer
Application will be made by the Issuer (or on its behalf) for the Securities to be admitted to trading on the Luxembourg Stoc k Exchange (Regulated Market).
Estimate of the total expenses of the issue and/or offer, including estimated expenses charged to the investor by the issuer or the offeror
No expenses will be charged to the investors by the issuer.
Who is the offeror and/or the person asking for admission to trading?
Description of the offeror and / or person asking for admission to trading
Person asking for admission to trading : BNP Paribas Issuance B.V. (the “Issuer”), Parnassusweg 789, 1082 LZ Amsterdam, the N etherlands (telephone number:
+31(0)88 738 0000).
Why is this prospectus being produced?
Use and estimated net amount of the proceeds
The net proceeds from the issue of the Securities will become part of the general funds of the Issuer. Such proceeds may be u sed to maintain positions in options or futures contracts or other hedging instruments.
Estimated net proceeds: EUR 30,000,000
Underwriting agreement
No underwriting commitment is undertaken by the Offeror
Most material conflicts of interest pertaining to the offer or the admission to trading
The Manager and its affiliates may also have engaged, and may in the future engage, in investment banking and/or commercial b anking transactions with, and may perform other services for, the Issuer and the Guarantor and their respective affiliates in the o rdinary course of business.
Various entities within the BNPP Group (including the Issuer and Guarantor) and Affiliates undertake different roles in conne ction with the Securities, including Issuer of the Securities and Calculation Agent of the Securities and may also engage in tradin g activities (including hedging activities) relating to the Underlying and other instruments or derivative products based on or relating to the Underlying which may give rise to potential conflicts of inter est.
BNP Paribas Financial Markets SNC, which acts as Manager and Calculation Agent is an Affiliate of the Issuer and the Guaranto r and potential conflicts of interest may exist between it and holders of the Securities, including with respect to certain determi nations and judgments that the Calculation Agent must make. The economic interests of the Issuer and of BNP Paribas Financial Markets SNC as Manager and Calculation Agent are potentially adverse to Holders interests as an investor in the Securities.
Other than as mentioned above, so far as the Issuer is aware, no person involved in the issue of the Securities has an intere st material to the offer, including conflicting interests.