2012 Registration document and annual financial report - BNP Paribas

6INFORMATIONON THE PARENT COMPANY FINANCIAL STATEMENTSNotes to the parent company financial statementsUndated Floating-Rate Subordinated NotesThe Undated Floating-Rate Subordinated Notes (TSDIs) and other Undated Subordinated Notes issued by BNP Paribas are redeemable on liquidationof the Bank after repayment of all other debts but ahead of Undated Participating Subordinated Notes. They confer no rights over residual assets.Characteristics of Undated Floating-Rate Subordinated Notes:Issue dateCurrencyAmount(in millions)Rate and term before1st call dateRate after1st call date31 Dec.201231 Dec.2011October 1985 EUR 305 TMO -0.25% - - 254 254September 1986 USD 500 6-month Libor +0.075% - - 207 211January 2002 EUR 660 6.342% 10 years 3-month Euribor +2.33% - 660January 2003 EUR 328 5.868% 10 years 3-month Euribor +2.48% 329 329UNDATED FLOATING-RATE SUBORDINATED NOTES 790 1, 4546Payment of interest is obligatory on the TSDIs issued in October 1985(representing a nominal amount of EUR 305 million), but the Board ofDirectors may postpone interest payments if the Ordinary Shareholders’General Meeting notes that there is no income available for distributionin the twelve months preceding the interest payment date. Interest iscumulative and becomes payable in full when the bank resumes dividendpayments.Payment of interest is obligatory on the TSDIs issued in September 1986(representing a nominal amount of USD 500 million), but the Board ofDirectors may postpone interest payments if the Ordinary Shareholders’General Meeting approves a decision not to pay a dividend in the twelvemonths preceding the interest payment date. Interest is cumulative andbecomes payable in full when the bank resumes dividend payments. Thebank may resume the payment of past interest even if dividend paymentshave not resumed.The other TSDIs contain a specific call option provision, whereby theymay be redeemed at par prior to maturity at the issuer’s discretion atany time after a date specified in the issue agreements, after approvalof the banking regulators. They are not subject to any interest stepupclause. Payment of interest is obligatory, but the Board of Directorsmay postpone interest payments if the Ordinary Shareholders’ GeneralMeeting decides not to pay a dividend in the twelve months precedingthe interest payment date.Undated participating subordinated notesUndated participating subordinated notes issued by BNP ParibasSA between 1984 and 1988 in a total amount of EUR 337 million areredeemable only in the event of the liquidation of BNP Paribas SA, butmay be retired on the terms specified in the French act of 3 January 1983.On this basis, 32, 000 such notes were redeemed and cancelled in 2012.The number of remaining notes in circulation is 1, 434, 092.3562012 Registration document and annual financial report - BNP PARIBAS