Commentary & Deal Flow

Final Books €700m+ (incl €50m JLM). Peak book over €775m (incl €50m JLM)

Launched: 5yr: €500m @ MS+70bp - Books over €775m (incl €50m JLM)
IPTs: 5yr: MS+90bp area

• Issuer: Banque Cantonale de Genève (Ticker: BCG)
• LEI: 549300ZEFUWWFTP7BA50
• Issuer Ratings: AA- (S&P)
• Expected Issue Ratings: AA- (S&P)
• Format: The Bonds will be issued as uncertificated securities (Wertrechte) in accordance with article 973c of the Swiss Code of Obligations, as amended, which will be registered in the main register (Hauptregister) of SIX SIS Ltd. ("SIX SIS"). Neither the Issuer, nor any Bondholder will at any time have the right to effect or demand the conversion of the uncertificated securities into, or the delivery of, a permanent global certificate (Globalurkunde auf Dauer) or individually certificated securities (Wertpapiere).
• Status: The Bonds will constitute direct, unconditional, unsubordinated and unsecured obligations of the Issuer, as provided in the Terms of the Bonds.
• Size: €500m
• Settlement Date: 07-Jul-26 (T+5)
• Maturity Date: 07-Jul-31
• Tenor: 5-years
• Interest Payment Dates: Payable annually in arrear on 07 July of each year, commencing on 07-Jul-27
• Day Count: ACT/ACT ICMA
• Business Day Convention: Following unadjusted
• Business Days: T2, SIX SIS
• Benchmark: OB193, HR 102%
• Hedge Deadline: 13:30 Ldn / 14:30 CET
• Documentation: Standalone EUR documentation. The Prospectus will only be submitted for review to a competent Swiss Review Body pursuant to Art. 52 FinSA after the offering has been completed.
• Early Redemption: The Bonds may be redeemed early in whole, but not in part, at par, plus accrued interest, if any, if Bonds representing eighty-five (85) per cent or more of the aggregate principal amount of the Bonds have been redeemed or purchased and cancelled, as further described in the Terms of the Bonds.
• Swiss Withholding Tax: Applicable
• Use of Proceeds: General business purposes
• Product Governance: Manufacturer Target Market (EU MiFID II): professional clients and eligible counterparties only (all distribution channels). No EU PRIIPs key information document (KID) and no UK disclosure document required by DISC have been prepared as not available to retail in EEA or UK.
• Sales Restrictions: The Bonds are subject to restrictions on their offering, sale, delivery and transfer both generally and specifically in the United States and to U.S. persons, the European Economic Area, and the United Kingdom
• Lead Manager: BNP Paribas
• Co-Lead Manager: Banque Cantonale de Genève
• Listing: SIX Swiss Exchange
• Denominations: €100,000 + €100,000
• Clearing: SIX SIS Ltd
• ISIN / Swiss Security Number: CH1578978947 / 157'897'894
• Governing Law: Swiss law