Euro 6,000,000,000 Euro Medium Term Note Programme Due from ...

"IIR" being for the purpose of this Condition the ratio determined on the
fifth Business Day before the date set for redemption between (i) if the
CPI is specified as the Index applicable in the Final Terms, the CPI
Daily Inflation Reference Index on the date set for redemption and the
Base Reference specified in the relevant Final Terms, or (ii) if HICP is
specified as the Index applicable in the Final Terms, the HICP Daily
Inflation Reference Index on the date set for redemption and the Base
Reference specified in the relevant Final Terms.
If the Early Redemption Amount calculated as set out above is below
par, the Notes will be redeemed at par.
(B) If the Inflation Linked Notes (whether or not Condition 6(f)(ii) applies)
fall to be redeemed for whatever reason before the Maturity Date, the
Issuer will pay the Early Redemption Amount or the Optional
Redemption Amount, as the case may be, together with interest accrued
to the date set for redemption. Such accrued interest will be calculated by
the Calculation Agent in respect of the period from, and including the
immediately preceding Interest Payment Date or, as the case may be, the
Interest Commencement Date to, but excluding, the date set for
redemption of such Notes at a rate per annum on the basis of the
provisions of Condition 5(c)(iv) above except that, for such purposes the
relevant Interest Determination Date shall be the fifth Business Day prior
to the relevant Early Redemption Date.
(iii) Other Notes:
(A) The Early Redemption Amount payable in respect of any Note (other
than Notes described in (i) and (ii) above), upon redemption of such Note
pursuant to Condition 6(g) or 6(j) or upon it becoming due and payable
as provided in Condition 9 or 6(k) shall be the Final Redemption Amount
together with interest accrued to the date fixed for redemption (including,
where applicable, any Arrears of Interest).
(B) The Optional Redemption Amount payable in respect of any Note (other
than Notes described in (i) and (ii) above), upon redemption of such Note
pursuant to Condition 6(d)(i) or 6(e) will be determined by the
Calculation Agent on the following basis:
"Optional Redemption Amount" = Y x Specified Denomination
Where:
(g) Redemption for Taxation Reasons:
"Y" means the ratio expressed as a percentage specified in the relevant
Final Terms.
(i) If, by reason of any change in French law, or any change in the official application or
interpretation of such law, becoming effective after the Issue Date, the Issuer would on
the occasion of the next payment of principal or interest due in respect of the Notes,
not be able to make such payment without having to pay additional amounts as
specified under Conditions 8(a) and 8(b) below, the Issuer may, at its option, on any
Interest Payment Date or, if so specified in the relevant Final Terms, at any time,
subject to having given not more than 60 nor less than 30 days’ notice to the
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