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8/13/2019 Call Warrants FINAL TERMS linked to OMX30S
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FINAL TERMS
Dated 09 December 2013
SOCIT GNRALE EFFEKTEN GMBH
ISSUE OF 5,500,000 CASH SETTLED CALL WARRANTS LINKED TO THE OMX STOCKHOLM 30 INDEX
Unconditionally and irrevocably guaranteed by Socit Gnrale
under the 75,000,000,000
Warrants Issuance Programme
PART ACONTRACTUAL 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 Warrants" in the Base Prospectus dated 24 July 2013 which constitutes a base
prospectus for the purposes of the Prospectus Directive 2003/71/EC) (the Prospectus Directive) as amended
(which includes the amendments made by Directive 2010/73/EU (the 2010 PD Amending Directive) to the extentthat such amendments have been implemented in a Member State). This document constitutes the Final Terms in
respect of the Warrants described herein for the purposes of Article 5.4 of the Prospectus Directive and Article 8.4 of
the loi relative aux prospectus pour valeurs mobilires dated 10 July 2005, as amended, which implements the
Prospectus Directive and must be read in conjunction with the Base Prospectus and the supplements to such Base
Prospectus dated 20 August 2013, 20 September 2013, 16 October 2013, 12 November 2013 and 3 December 2013
and published prior to the Issue Date (the Supplements); provided, however, that to the extent any Supplement to
such Base Prospectus (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 Warrants", such change(s) shall
have no effect with respect to the Conditions of the Warrants to which these Final Terms relate. Full information on
the Issuer, the Guarantor and the offer of the Warrants is only available on the basis of the combination of these Final
Terms, the Base Prospectus and any Supplement(s).
A summary of the Warrants (which comprises 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, the specified
offices of the Paying Agents and on the website of the Issuers(www.listedproducts.societegenerale.se).
http://www.listedproducts.societegenerale.se/http://www.listedproducts.societegenerale.se/8/13/2019 Call Warrants FINAL TERMS linked to OMX30S
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1. Date on which the Warrants become fungible: Not applicable
2. (i) Settlement Currency: SEK
(ii) Currency conversion in accordance with
Condition 1:
Applicable
3. Number of Warrants: 5,500,000
4. Issue Price: SEK 50 per Warrant
5. Issue Date: 09 December 2013
6. Notional Amount per Warrant: SEK 50
7. Expiration Date (European Style Warrants: 21 January 2033
8. (i) Settlement Date: As set out in Condition 5
(ii) Scheduled Settlement Date: Not applicable
9. Type of Warrants: European
The Warrants are Call Warrants
The Warrants are Index Linked Warrants.
The Warrants are Fixed Leverage Warrants.
The provisions of the following Additional Terms
and Conditions apply:
Additional Terms and Conditions relating to One-
Delta, Fixed Leverage and Turbo Warrants
Additional Terms and Conditions for Index Linked
Warrants
Such Additional Terms and Conditions contain,
amongst others, the provisions for determining any
amount where calculation is impossible or
impracticable
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10. Reference of the Product: 3.2.2 Fixed Leverage Bull, as described in the
Additional Terms and Conditions relating to One-
Delta, Fixed Leverage and Turbo Warrants
PROVISIONS RELATING TO SETTLEMENT
11. Type of Settlement: The Warrants are Cash Settled Warrants
12.
13.
14.
Cash Settlement Amount:
Conversion Rate:
Substitute Conversion Rate:
As set out in Condition 5.1
Not applicable
Not applicable
15. Physical Delivery Warrant Provisions: Not applicable
16. Parity: Not applicable
17. Final Settlement Price: Final Settlement Price = Notional Amount x ProductFormula(T)
Where:
Product Formula(T) = BaseSettlementLevel_FSP +
(1 / BaseAmount) x Max(InitialValue x FX(0) x
Ratio(T) x (LSCL(T) / LSCL(0)) -C(T);0) x (1 /
FX(T+1))
18. Averaging Date(s): Not applicable
19. Optional Early Expiration at the option of the
Issuer:
Applicable
(i) Optional Early Settlement Amount: Determined in accordance with Option 3 of
Condition 5.6.
(ii) Optional Early Settlement Price: Determined in accordance with Option 3 of
Condition 5.6.
(iii) Optional Early Expiration in Part: Not applicable
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(iv) Optional Early Settlement Valuation
Date:
Means the third Valuation Date following the date on
which the Issuer has notified the Warrantholders
that the Warrants will be subject to Early Expiration
at the option of the Issuer in accordance with
Condition 5.6.
(v) Notice Period: A notice may be delivered by the Issuer pursuant toCondition 5.6 at any time prior to the Expiration Date
provided that any such notice is received at least
four (4) Valuation Dates prior to the Optional Early
Expiration Date.
(vi) Optional Early Expiration Date: Means the fourth Valuation Date following the date
on which the Issuer has notified the Warrantholders
that the Warrants will be subject to Early Expiration
at the option of the Issuer in accordance with
Condition 5.6.
(vii) Optional Early Settlement Date: 12 Business Days following the Optional Early
Expiration Date.
20. Optional Early Expiration at the option of the
Warrantholder:
Not applicable
21. Event-linked Early Expiration: Not applicable
22. Trigger early settlement at the option of the
Issuer:
Applicable as per Condition 5.8
23. Early Trigger Level Settlement Amount(s)
payable:
As per Condition 5.8
24. Structured Amount Warrants: Not applicable
PROVISIONS RELATING TO EXERCISE
25. Exercise: Automatic Exercise
(i) Exercise Price: SEK 0 per Warrant
(ii) Minimum Exercise Number: Not applicable
(iii) Maximum Exercise Number: Not applicable
(iv) Units Not applicable
26. Credit Linked Warrants Provisions Not applicable
27. Bond Linked Warrants Provisions Not applicable
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PROVISIONS APPLICABLE TO THE UNDERLYING(S) IF ANY
28. (i) Underlying(s): The following Index as defined below:
OMX Stockholm 30 Index (Reuters: .OMXS30) (Index Sponsor : OMX AB (publ)) (website :
https://indexes.nasdaqomx.com/ )
(ii) Information relating to the past and
future performances of the
Underlying(s):
Information relating to the performance of the Index
is available on the website of the Index Sponsor and
details regarding the volatility of the Index can be
obtained, upon request, at the London office of
Socit Gnrale and at the office of the Agent.
(iii) Other information relating to the
Underlying(s):
The OMX Stockholm 30 is the Stockholm Stock
Exchange's main leading share index. The index
consists of the 30 most actively traded stocks on the
Stockholm Stock Exchange. The composition of the
OMXS30 index is revised twice a year. The
OMXS30 index is a market weighted price index.
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. The Issuer
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
29. (i) Definitions relating to date(s):
Valuation Date(s)
Applicable
- Valuation Date(i) means any Scheduled Trading Day between the
Initial Valuation Date and the Final Valuation Date.
Valuation Date(0) means the Initial Valuation Date,
Valuation Date (T) means the Final Valuation Date
and for each day (i) between 1 (included) and (T-1)
(included), Valuation Date(i) is the Scheduled
Trading Day immediately following Valuation
Date(i-1).
Initial Valuation Date means 06 December 2013.
Final Valuation Date means 14 January 2033.
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(ii) Definitions relating to the Product: Applicable, subject to the provisions of the
Additional Terms and Conditions relating to One-
Delta, Fixed Leverage and Turbo Warrants.
Specific Definitions relating to the determination of the Product Formula
FX(i) means, for any Valuation Date(i), the spot exchange rateas of the FXSourceFixingTime to convert the
BaseCurrency into the LeveragedStrategyCurrency in
respect of such Valuation Date(i), as published by the
FXSource, or any successor thereto. If no such rate is
available on such Valuation Date(i), FX(i) shall be the first
available spot exchange rate as of the
FXSourceFixingTime to convert the BaseCurrency into the
LeveragedStrategyCurrency following such day, as
published by the FXSource, or any successor thereto.
Ratioor Ratio(i) means, for each Valuation Date(i), the value of Ratio(i) in
respect of each Warrant on such Valuation Date(i), which
shall be the value of Ratio(i) on the Valuation Date(i-1)
unless adjusted by the Calculation Agent in accordance
with the following provisions.
If, on any Valuation Date(i) from, but excluding, the Initial
Valuation Date to, and including, the Final Valuation Date:
C(i) / IV(i) > RatioResetThreshold
then the Calculation Agent shall adjust the value of Ratio(i)
in respect of such Valuation Date(i). The Calculation Agent
may also, on any Valuation Date(i) from, but excluding, theInitial Valuation Date to, and including, the Final Valuation
Date, elect in its sole discretion to adjust the value of
Ratio(i) in respect of such Valuation Date(i). If the
Calculation Agent adjusts the value of Ratio(i), it shall do so
in accordance with the following formula:
Ratio(i)= (Ratio(i -1) x LSCL(i) - CBEFORE(i) x (LSCL(0) /
(InitialValue x FX(0)))) / LSCL(i)
The initial value of Ratio(i) shall be equal to Ratio(0) =
RatioInitial.
LSCL(i) means, for each Valuation Date(i), the Leveraged Strategy
Closing Level as of such Valuation Date(i), as such level
may be adjusted in accordance with the provisions of
"Extraordinary Strategy Adjustment for Performance
Reasons" at Condition 3.2.2.5.4 of the Additional Terms
and Conditions relating to One Delta, Fixed Leverage and
Turbo Warrants.
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CBEFORE(i) is determined in accordance with the following formula:
CBEFORE(i) = C(i -1) + ((ACT(i -1;i) /
DayCountBasisCommission) x (%CommissionRate(i) +
%GapPremiumRate(i) + %CollatCostRate(i) +
%QuantoRate(i)) x IntrinsicValue(i))
Commission(i), Commission or
C(i)
means, in respect of each Valuation Date(i):
if (i) is the Initial Valuation Date or a day on which the value
of Ratio(i) has been adjusted in accordance with the
definition of "Ratio or Ratio(i)" herein:
0
and otherwise:
C(i) = C(i-1) + (ACT(i-1;i) / DayCountBasisCommission) x
(%CommissionRate(i) + %GapPremiumRate(i) +
%CollatCostRate(i) + %QuantoRate(i)) x IntrinsicValue(i)
Intrinsic Value or
IntrinsicValue(i)
means, in respect of each Valuation Date(i), an amount
determined by the Calculation Agent in accordance with the
following formula:
IntrinsicValue(i) = Max(InitialValue x FX(0) x Ratio(i-1) x
(LSCL(i) / LSCL(0)) - C(i-1);0)
Leveraged Strategy
Description of the Leveraged Strategy
The strategy to which the performance of the Warrant is linked is the Leveraged Strategy which
consists of leveraged exposure to the Underlying with a Leverage factor "Leverage" and a
hypothetical money market instrument.
The notional exposure of the Leveraged Strategy to the Underlying is revised on each Valuation
Date in order to take into account the Leveraged Strategy Closing Level as of the previous
Valuation Date, as further described hereinafter.
Subject to the occurrence of an Intraday Restrike Event (following which the Leveraged StrategyClosing Level will be determined in accordance with Condition 3.2.2.5.4 of the Additional Terms
and Conditions relating to One-Delta, Fixed Leverage and Turbo Warrants), for each Valuation
Date(i), the Leveraged Strategy Closing Level as of such Valuation Date(i) is calculated in
accordance with the following formulae:
on Valuation Date(0):
LSCL(0)= LSCLInitial
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on each subsequent Valuation Date(i):
LSCL(i)= Max(LSCL(i-1) x (1 + Leverage x ((Price(i) / AdjPrice(i-1)) -1) + (1-Leverage) x
Rate(i-1) x ACT(i-1,i) / DayCountBasisRate),0)
Subject to the occurrence of an Intraday Restrike Event (following which the Leveraged Strategy
Level will be determined in accordance with Condition 3.2.2.5.4 of the Additional Terms and
Conditions relating to One-Delta, Fixed Leverage and Turbo Warrants), for each Valuation
Date(i) and each Calculation Time(v), the Leveraged Strategy Level as of such Calculation
Time(v) is calculated in accordance with the following formula:
LSL(i,v)= Max(LSCL(i-1) x (1+ Leverage x ((Price(i,v) / AdjPrice(i-1)) -1) + (1-Leverage) x
Rate(i-1 ) x ACT(i-1,i) / DayCountBasisRate),0)
For the purposes of determining LSCL(i) on a Valuation Date immediately following an Intraday
Restrike Event Reference Day, references to (i-1) in the formula of LSCL(i) above shall be
deemed to be references to (i') (as defined in Condition 3.2.2.5.4 of the Additional Terms andConditions relating to One-Delta, Fixed Leverage and Turbo Warrants).
Specific Definitions relating to the Leveraged Strategy
AdjPrice(i-1) is determined, for each Valuation Date(i), according to the
following formula:
Price(i-1) -%DistRate(i) x Dist(i)
CashRateor CashRate(i) means, for each Valuation Date(i):
(1) the level of the RateOvernight for such ValuationDate(i); or
(2) the last available level displayed of
RateOvernight, if a level of RateOvernight
dated as of such Valuation Date(i)
in both cases as determined by the Calculation Agent
provided that if in the case of (2) above RateOvernight is
not displayed on the RateOvernightScreenPage (or, if
applicable, any successor service or page used by the
Calculation Agent for the purpose of ascertaining such rate)
for a period of more than 7 Valuation Dates and such rate
is, in the opinion of the Calculation Agent, reasonablyexpected to be discontinued (such rate then being the
"Discontinued Rate") then the Calculation Agent shall
determine CashRate(i) (a) by selecting a successor rate for
such Discontinued Rate which offers similar economic
characteristics to the Discontinued Rate or, if the
Calculation Agent determines that no such successor rate
exists, (b) on the basis of the cost that Socit Gnrale
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would charge or be charged to borrow cash in the
LeveragedStrategyCurrency on an overnight basis.
Leveraged Strategy Closing
Levelor LSCL(i)
means, for any Valuation Date(i), the Closing Level of the
Leveraged Strategy as of such day (i), as such level may
be adjusted in accordance with the terms of condition
3.2.2.5.4 of the Additional Terms and Conditions relating to
One-Delta, Fixed Leverage and Turbo Warrants.
Leveraged Strategy Level or
LSL(i,v)
means, for any Valuation Date(i) and any Calculation
Time(v), the latest level of the Leveraged Strategy as of
such Calculation Time(v), as such level may be adjusted in
accordance with the terms of condition 3.2.2.5.4 of the
Additional Terms and Conditions relating to One-Delta,
Fixed Leverage and Turbo Warrants.
Rateor Rate(i) means, for each Valuation Date(i), an annual rate
calculated as of such day in accordance with the followingformula:
Rate(i) = CashRate(i) + %SpreadLevel(i)
Price(i) means, in respect of each Valuation Date(i), the Reference
Price of the relevant Underlying as of such Valuation
Date(i), and subject to the adjustments and provisions of
the Additional Terms and Conditions for Index Linked
Warrants.
Price(i,v)means, in respect of each Valuation Date(i) and Calculation
Time(v), the Intraday Price of the Underlying as defined inthe Additional Terms and Conditions for Index LinkedWarrants as of such Valuation Date(i) and CalculationTime(v).
Calculation Time means with respect to the Leveraged Strategy, any time
between the scheduled opening time of the Exchange and
FixingTime provided that the relevant data is available to
enable the Calculation Agent to determine the Leveraged
Strategy Level.
Distributions and corporate actions affecting the Underlying: Specific Definitions Dist(i) means Dist(i-1, i)
Underlying Distributions, or
Dist(i1,i2)
means, for any dates (i1) and (i2), the sum of all Gross
Ordinary Distributions paid in respect of the Underlying,
which have an ex date between (i1) (excluded) and (i2)
(included).
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If such Gross Ordinary Distribution is not denominated in
the currency of the Underlying, this Gross Ordinary
Distribution will be converted into such currency by the
Calculation Agent using the latest available spot exchange
rate as of the FXSourceFixingTime as published on the
Valuation Date immediately preceding the relevant
Valuation Date(i) by the FXSource. If no such rate is
available on the Valuation Date immediately preceding
such Valuation Date(i), such rate shall be the first available
spot exchange rate as of the FXSourceFixingTime to
convert such Gross Ordinary Distribution into the Currency
of the Underlying following such Valuation Date(i), as
published by the FXSource, or any successor service or
page used by the Calculation Agent for the purposes of
ascertaining such rate.
Extraordinary Strategy Adjustment for Performance Reasons
DescriptionIf the Calculation Agent determines that an Intraday Restrike Event has occurred at a
Calculation Time(v) during a Valuation Date(i), an adjustment (an Extraordinary Strategy
Adjustment for Performance Reasons) shall take place during such Valuation Date(i) in
accordance with the following provisions.
The real time calculation of the Leveraged Strategy shall be suspended during the Intraday
Restrike Event Observation Period and resume in accordance with Condition 3.2.2.5.4.1 of the
Additional Terms and Conditions relating to One Delta, Fixed Leverage and Turbo Warrants
within 15 minutes following the end of such Intraday Restrike Event Observation Period (the
point of such resumption being the Calculation Resume Time and the day on which suchresumption occurs being the Calculation Resume Dayor CRD). Should the end of the Intraday
Restrike Event Observation Period occur less than 15 minutes before the FixingTime on the
Intraday Restrike Event Reference Day, the Calculation Resume Time shall be the FixingTime
which immediately follows the end of the Intraday Restrike Event Observation Period.
On each Calculation Resume Day, from the Calculation Resume Time, LSCL(CRD) and
LSL(CRD,v) will be determined as follows:
For each Calculation Time(v) during such Calculation Resume Day following the end of the
Intraday Restrike Event Observation Period, the Leveraged Strategy is calculated according to
the following formula:
LSL(CRD,v) = LSL(i',VREF(v)) x (1 + Leverage x ((Price(CRD,v) / AdjPrice(i')) -
1) + (1 - Leverage) x Rate(i') x ACT(i',CRD) / DayCountBasisRate)
and at the FixingTime of such Calculation Resume Day:
LSCL(CRD) = LSL(i',VREF(v)) x (1 + Leverage x ((Price(CRD) / AdjPrice(i')) - 1)
+ (1 - Leverage) x Rate(i') x ACT(i',CRD) / DayCountBasisRate)
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Specific Definitions(i) means the Intraday Restrike Event Reference Day which
corresponds to the Intraday Restrike Event immediately
preceding the Calculation Time(v).
AdjPrice(i) is determined according to the following formula:
AdjPrice(i' ) = Price(i',VREF(v)) - %DistRate(CRD) x
Dist(i',CRD)
Intraday Reference Level means, in respect of Valuation Date(i) and a Calculation
Time(v), the Underlying level as of (1) the last Intraday
Restrike Event Reference Time preceding and excluding
such Calculation Time(v) or (2) if no Intraday Restrike
Event has occurred on such day, the closing level of the
Underlying on the immediately preceding Valuation Date.
Intraday Restrike Event means, in respect of a Valuation Date(i), the decrease at a
Calculation Time(v) of the Underlying level below
DailyRestrikePercentage of the relevant Intraday
Reference Level at such Calculation Time.
Intraday Restrike Event
Observation Period
means in respect of an Intraday Restrike Event, the period
starting on and excluding the Intraday Restrike Event Time
and finishing on and including the time falling 15 minutes
after the Intraday Restrike Event Time.
Where, during such 15 minute period, the Calculation Agentdetermines that (1) the level of the Underlying is not
disseminated by the Index Sponsor or (2) the Exchange or
the Related Exchange is not open for continuous trading,
the Intraday Restrike Event Observation Period will be
extended to the extent necessary until (1) the level of the
Underlying is calculated and disseminated by the Index
Sponsor and (2) the Exchange and the Related Exchange
are open for continuous trading for an aggregate period of
15 minutes.
If the Intraday Restrike Event Observation Period would not
end by the FixingTime: (1) such day will not be a ValuationDate for the purposes of determining any element of the
Leveraged Strategy, except (a) for the purpose of
calculating LSL(i,vREF(v)) and AdjPrice(i) (and the
constituent parts thereof) corresponding to the applicable
Intraday Restrike Event and (b) for the purpose of
calculating LSL(i,vREF(v)) and AdjPrice(i) (and the
constituent parts thereof) with respect to any previous
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Intraday Restrike Event that has occurred on such day, if
any; and (2) such Intraday Restrike Event Observation
Period shall be extended to the following Valuation Date to
the extent necessary until the Calculation Agent determines
that (a) the level of the Underlying is calculated and
disseminated by the Index Sponsor and (b) the Exchange
and the Related Exchange are open for continuous trading
for an aggregate period of 15 minutes.
For the purpose of determining the Intraday Restrike Event
Observation Period only, the Exchange shall not be
considered to be open for continuous trading during its
closing auction period (as provided under the rules of the
Exchange).
Intraday Restrike Event
Reference Day
means, in respect of an Intraday Restrike Event
Observation Period, the day on which the Intraday Restrike
Event Reference Time occurs.
Intraday Restrike Event
Reference Time
means, in respect of an Intraday Restrike Event
Observation Period, the Calculation Time on which the
Leveraged Strategy Level reaches its lowest value during
such period.
Intraday Restrike Event Time means in respect of an Intraday Restrike Event, the
Calculation Time on which such event occurs.
LSL(i,VREF(v)) is calculated in accordance with the following formulae:
(1) where, in respect of an Intraday Restrike Event, one ormore Intraday Restrike Event Times have previously
occurred with an Intraday Restrike Event Reference
Time occurring on (i), then (with the latest Intraday
Restrike Event Reference Time, immediately preceding
VREF(v), being "v1"):
LSL(i',VREF(v)) = LSL(i',v1) x (1 + Leverage x
((Price(i,VREF(v)) /Price(i',v1)) - 1))
Where LSL(i',v1) is determined in accordance with
Condition 3.2.2.5.4.2 of the Additional Terms and
Conditions relating to One Delta, Fixed Leverage andTurbo Warrants but with "VREF(v)" replaced by "v1".
(2) in circumstances other than those set out in (1):
LSL(i',VREF(v)) = LSLREF(i(REF)) x (1 + Leverage x
((Price(i',VREF(v)) / AdjPrice(i(REF))) -1) + (1-Leverage) x
Rate(i(REF)) x (ACT(i(REF),i') / DayCountBasisRate))
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i(REF) means the latest of the (1) Intraday Restrike Event
Reference Day immediately preceding (i) in which case
i(REF) is referred as (i) and the latest Intraday Restrike
Event Reference Time on such Intraday Restrike Event
Reference Day is referred as (v1) (2) the Valuation Date
which immediately precedes (i) in which case i(REF) is
referred to as (i'-1).
LSLREF(i(REF)) means, if i(REF) is an Intraday Restrike Event Reference
Day then LSL(i'',v1); or otherwise LSCL(i'-1).
AdjPrice(i(REF)) means:
(1) if i(REF) is an Intraday Restrike Event Reference
Day, then:
AdjPrice(i(REF)) = Price(i'',v1) - %DistRate(i') x Dist(i'',i')
(2) or otherwise:
AdjPrice(i(REF)) = Price(i'-1) - %DistRate(i') x Dist(i'-1,i')
VREF(v) means the latest Intraday Restrike Event Reference Timepreceding, and excluding, Calculation Time(v).
Applicable Rates
%CollatCostRate(i) means 0%
The level of %CollatCostRate is fixed at 0% in accordancewith Condition 2.5 (i) of the Additional Terms andConditions relating to One-Delta, Fixed Leveraged andTurbo Warrants.
%CommissionRate(i) means, in respect of each Valuation Date(i), the annualcommission rate as of such Valuation Date(i). The level ofthe annual commission rate will be determined by theCalculation Agent. %CommissionRate(i) is subject to aminimum of 0% and maximum of 2% and is initially equal to0.45% at the Initial Valuation Date.
The level of %CommissionRate is subject to a cap of 2%and a floor of 0% in accordance with Condition 2.5(ii) of theAdditional Terms and Conditions relating to One-Delta,
Fixed Leveraged and Turbo Warrants.
%DistRate(i) means 70%
The level of %DistRate is fixed at 70% in accordance withCondition 2.5(i) of the Additional Terms and Conditionsrelating to One-Delta, Fixed Leveraged and TurboWarrants.
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%GapPremiumRate(i) means, for each Valuation Date(i), the annual gap premiumrate as of such Valuation Date(i), as determined by theCalculation Agent as the cost that the Issuer (and/or itsaffiliates) would charge to replicate the performance of theLeveraged Strategy, which includes, inter alia, the costs ofhedging the risk of the fair value of the Warrant becomingnegative.
%QuantoRate(i) means 0%
The level of %QuantoRate is fixed at 0% in accordancewith Condition 2.5(i) of the Additional Terms and Conditionsrelating to One-Delta, Fixed Leveraged and TurboWarrants.
%SpreadLevel(i) means 0.50%
The level of %SpreadLevel is fixed at 0.50% in accordancewith Condition 2.5(i) of the Additional Terms and Conditionsrelating to One-Delta, Fixed Leveraged and TurboWarrants.
Variable Data
BaseAmount Means the Notional Amount per Warrant
BaseCurrency Means SEK
BaseSettlementLevel_FSP Means 0%
DailyRestrikePercentage Means 94.5%
DayCountBasisCommission Means 365
DayCountBasisRate Means 360
FixingTime Means the scheduled closing time of the Stockholm StockExchange
FXSource Means the WM Company
FXSourceFixingTime Means the closing fixing time of the WM Company
InitialValue Means the Issue Price
Leverage Means 15
LeveragedStrategyCurrency Means SEK
LSCLInitial Means 50.0000
RatioResetThreshold Means 20%
RateOvernight Means Stockholm Interbank Offered Rate T/N
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RateOvernightScreenPage Means STIBORTN= Reuters page
RatioInitial Means 1
Options applicable to Reference Price
Reference Price Option Closing Priceis applicable
GENERAL PROVISIONS APPLICABLE TO THE WARRANTS
30. Provisions applicable to payment date(s):
- Payment Business Day: Following Payment Business Day
- Financial Centre(s): Stockholm
31. Events of Default: Applicable
32. Minimum Trading Number: One Warrant
33. Form of the Warrants:
(i) Form: Dematerialised Uncertificated Swedish Warrants in
book entry form issued, cleared and settled through
Euroclear Sweden in accordance with the Swedish
Financial Instruments Accounts Act (SFS
1998:1479), as amended.
34. Date of corporate authorisation
obtained for the issuance ofWarrants:
Not applicable
Signed on behalf of the Issuer:
By:
Duly authorised
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PART BOTHER INFORMATION
1. LISTING AND ADMISSION TO TRADING
(i) Listing: Application has been made for the Warrants to be
listed on the Nordic Derivatives Exchange, (NDX)a part of the regulated market Nordic Growth
Market NGM AB.
(ii) Admission to trading: Application has been made for the Warrants to be
admitted to trading on the Nordic Derivatives
Exchange, (NDX) a part of the regulated market
Nordic Growth Market NGM, with effect from the
Issue Date.
There can be no assurance that the listing and
trading of the Warrants will be approved with
effect on the Issue Date or at all.
(iii) Estimate of total expenses
related to admission to
trading:
Not Applicable
2. RATINGS
The Warrants to be issued have not been rated.
3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER
Save for any fees payable to the Dealer, so far as the Issuer is aware, no person involved in the issue ofthe Warrants has an interest material to the offer.
4. ESTIMATED NET PROCEEDS AND TOTAL EXPENSES
(i) Estimated net proceeds: Not Applicable
(ii) Estimated total expenses: Not Applicable
5. PERFORMANCE OF FORMULA, EXPLANATION OF EFFECT ON VALUE OF INVESTMENT AND
ASSOCIATED RISKS
The Warrants (commercial name: Bull Certifikat) are designed to track the performance of the Leveraged
Strategy, after taking into account deduction of the Commission, and through tracking the performance of
the Leveraged Strategy, the Warrants provide a daily leveraged long exposure to the Index. The
exposure to the Index provided by the Warrants is amplified by the Leverage. Subject to taking into
account certain factors (including notably the Commission and the Underlying Distributions), the Warrants
are designed to multiply the daily performance of the Index by a factor (namely, the Leverage) (except in
limited circumstances, where an intra-day restrike of the Warrants may be triggered to offer some
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protection against an extreme rise in the value of the Index).
If, for example, on any trading day the Index moves by 1 per cent. from its closing level on the previous
trading day, the value of the Warrants, subject to certain factors (including notably the Commission and
the underlying dividends), on such trading day will move by approximately 1 per cent. multiplied by the
Leverage. The higher the performance of the Index, the higher the return on the Warrants and,
conversely, the lower the performance of the Index, the lower the return on the Warrants.
It is important to note that the exposure of the Warrants to the Index is re-set daily. This means that the
performance of the Warrants with respect to any given trading day is based on how far the Index has
risen or fallen from the level it closed at the trading day before. The next trading day, the process starts
again from the new closing level of the Index. As a result, over periods of more than one day, movements
in the Index are compounded and the performance of the Warrants will potentially deviate from fifteen
times the actual performance of the Index over such period of time depending on the day to day
performance of the Index during such period.
Further information can be obtained from the website of Socit Gnrale at
www.listedproducts.societegenerale.se
6. OPERATIONAL INFORMATION
(i) Security identification
code(s):
- ISIN code: DE000SG38584
- Local Code: BULL OMX X15 SG
(ii) Clearing System(s): Euroclear Sweden AB
(iii) Delivery: Delivery against payment
(iv) Calculation Agent: Socit Gnrale
(v) Agent(s): Nordea Bank AB
Smlandsgatan 17, A213
SE-105 71 Stockholm
Sweden
7. DISTRIBUTION
(i) Method of distribution: Non-syndicated
- Dealer(s): Socit Gnrale
(ii) Total commission and
concession:
Not Applicable
(iii) Non-exempt Offer: Not Applicable
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(iv) General Consent: Not Applicable
(v) Other conditions to consent: Not Applicable
8. PUBLIC OFFERS IN EUROPEAN ECONOMIC AREA
Not Applicable
9. ADDITIONAL INFORMATION
- Minimum investment in the
Warrants:
1 Warrant
- Minimum trading: 1 Warrant
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SUMMARY OF THE PROGRAMME
Summaries are made up of disclosure requirements known as Elements. These elements are numbered in SectionsAE (A.1E.7).This summary contains all the Elements required to be included in a summary for this type of securities and Issuer.Because some Elements are not required to be addressed, there may be gaps in the numbering sequence of the
Elements.Even though an Element may be required to be inserted in the summary because of the type of securities and Issuer,it is possible that no relevant information can be given regarding the Element. In this case a short description of theElement is included in the summary with the mention of "not applicable". References in this summary to "the Issuer"are references to SG Issuer, SGA Socit Gnrale Acceptance N.V. or Socit Gnrale Effekten GmbH, as thecase may be in the context of a particular issue of Warrants.
Section AIntroduction and warnings
Element
A.1 Warning
This summary must be read as an introduction to the Base Prospectus.Any decision to invest in the Warrants should be based on a consideration of the BaseProspectus as a whole by the investor.
Where a claim relating to the information contained in the Base Prospectus is brought before acourt, the plaintiff investor might, under the national legislation of the Member States, have to bearthe 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 anytranslation thereof, but only if the summary is misleading, inaccurate or inconsistent when readtogether with the other parts of the Base Prospectus or it does not provide, when read togetherwith the other parts of this Base Prospectus, key information in order to aid investors whenconsidering whether to invest in the Warrants.
A.2 Consent to the use of the Base Prospectus
Not ApplicableThe Issuer has not consented to the use of the Base Prospectus by any other
person to resell or place any Warrants.
Section BIssuers and Guarantor
Element
B.1 Legal and commercial name of the Issuer
Socit Gnrale Effekten GmbH
B.2 Domicile, legal form, legislation and country of incorporation
Socit Gnrale Effekten GmbH
Domicile:Neue Mainzer Strasse 46-50, 60311 Frankfurt am Main, Germany.Legal form: Limited liability company (Gesellschaft mit beschrnkter Haftung (GmbH)).Legislation under which the Issuer operates: German law.
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Country of incorporation: Germany.
B.4b Known trends affecting the Issuer and the industries in which it operates
Socit Gnrale Effekten GmbH expects business for the rest of this business year to continue as ithas done so far over the course of 2013.
B.5 Description of the Issuers group and the Issuers position within the group
Socit Gnrale Effekten GmbH is a subsidiary of the Socit Gnrale Group and has no
subsidiaries
B.9 Figure of profit forecast or estimate
Not applicable. Societe Generale Effekten GmbH does not make any figure of profit forecast orestimate.
B.10 Nature of any qualifications in the audit report on the historical financial information
Not applicable. The audit report does not include any qualification.
B.12 Selected historical key financial information regarding the Issuer
Socit Gnrale Effekten GmbH
(in EUR) June 30,2013
December 31,2012 (audited)
June 30, 2012 December 31,2011
(audited)(000) (000) (000) (000)
OperatingRevenues
55 215 52 103
Profit from
operations
0 0 0 0
Profit fromcontinuingoperations
0 0 0 0
Basic anddilutedearningsper share
0 0 0 0
TotalAssets
22,522,679 30,434,004 39,422,013 43,158,609
Dividendsdeclaredper share
0 0 0 0
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Material adverse change in the prospects of the Issuer since the date of its last publishedaudited financial statements
There has been no material adverse change in the prospects of Socit Gnrale Effekten GmbH
since the date of its last audited financial statements dated 31 December 2012.
Significant changes in the financial or trading position subsequent to the period covered by thehistorical financial information
There have been no significant changes in the financial or trading position of Socit Gnrale
Effekten GmbH since the date of its last published financial statements dated 30 June 2013.
B.13 Recent events particular to the Issuer which are to a material extent relevant to the evaluationof the Issuers solvency
There have been no recent events particular to Socit Gnrale Effekten GmbH which are to a
material extent relevant to the evaluation of the solvency of Socit Gnrale Effekten GmbH.
B.14 Statement as to whether the Issuer is dependent upon other entities within the group
See Element B.5 above for a description of the position of Societe Generale Effekten GmbH within theGroup.
Societe Generale Effekten GmbH is not dependent upon other entities within the Group.
B.15 Issuers principal activities
The business purpose of Socit Gnrale Effekten GmbH is the issue and sale of securities as well
as related activities, with the exception of those requiring a licence. It is engaged in the issue and
placement of securities, mainly warrants and certificates, as well as related activities. Banking
business as defined by the German Banking Act (Kreditwesengesetz, KWG) is not included in the
business purpose. Socit Gnrale Effekten GmbH is a financial entity as defined in Sec. 1(3)Sentence 1 No. 5 KWG.
B.16 To the extent known to the Issuer, whether the Issuer is directly or indirectly owned orcontrolled and by whom, and nature of such control
Socit Gnrale Effekten GmbH is a wholly owned subsidiary of Socit Gnrale, Paris and is afully consolidated company.
B.17 Credit ratings assigned to the Issuer or its debt securities
Societe Generale Effekten GmbH is not rated.
B.18 Nature and scope of the guaranteeThe due and punctual payment of any amounts due from Societe Generale Effekten GmbH toWarrantholders will be unconditionally and irrevocably guaranteed by the Guarantor as provided in theGuarantee; provided that the Guarantee shall not apply to any Issue of Warrants issued on or after thedate of the Guarantee by Societe Generale Effekten GmbH to the extent that, at the issue date (the
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Issue Date) of such issue of Warrants, the product of the number of Warrants issued and their issueprice (after taking account of any set-off, combination of accounts, netting or similar arrangement fromtime to time exercisable by the Issuer against any person to whom obligations are from time to timeowed), when and as due (whether at maturity, by acceleration or other) converted into euro at therelevant spot rate of exchange on such Issue Date, is equal to an amount which exceeds
75,000,000,000.
B.19 Information about the guarantor as if it were the issuer of the same type of security that issubject of the guarantee
B.19 B.1 Legal and commercial name of the Guarantor
Socit Gnrale
B.19 B.2 Domicile, legal form, legislation and country of incorporation
Socit GnraleDomicile: 29, boulevard Haussmann, 75009 Paris, France.
Legal form: Public limited company (socit anonyme).Legislation under which the Issuer operates: French law.Country of incorporation: France.
B.19 B.4b Known trends affecting the Guarantor and the industries in which it operates
Significant but uneven deterioration in the global economic environment; recommendation by the
European Banking Authority to reach a Core Tier 1 of at least 9% under Basel 2.5 starting 30 June
2012; Vickers report in the United Kingdom suggesting ringfencing retail banking activities within
universal banks (issue which the European Union will takeup in 2012); other topics being monitored by
the Financial Stability Council include harmonisation of accounting standards, compensation practices,
functioning of OTC derivative markets, among others. In the US, the Dodd-Frank Act laid the
foundation for systemic risk supervisions and oversight of certain activities of Corporate andInvestment Banks; a tax on financial transactions has been introduced in 2012 in France and in 2013
in Italy. The European Commission has published a proposal for a Directive for a common tax on
financial transactions in Belgium, Germany, Estonia, Greece, Spain, France, Italy, Austria, Portugal,
Slovenia and Slovakia.
B.19 B.5 Description of the Guarantor's group and the Guarantor's position within the group
Socit Gnrale is the parent company of the Socit Gnrale Group (theGroup).The Socit Gnrale Group offers advisory and other services to individual customers, companiesand institutions as part of three main business lines:-
Retail Banking in France under Socit Gnrale, Crdit du Nord and Boursorama brands;- International Retail Banking, which is present in Central and Eastern Europe, Russia, the
Mediterranean Basin, Sub-Saharan Africa, Asia and in the French Overseas territories; and- Corporate and Investment Banking with a broad range of expertise in investment banking, finance
and market activities.
B.19 B.9 Figure of profit forecast or estimate
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Not applicable. Socit Gnrale does not make any figure of profit forecast or estimate.
B.19 B.10 Nature of any qualifications in the audit report on the historical financial information
Not applicable. The audit report does not include any qualification.
B.19 B.12 Selected historical key financial information regarding the Guarantor
Socit Gnrale
Half year
2013
Year ended
2012 (*)
Half year
2012 (*)
Year ended
2011
Results(in EUR M)
Net Banking Income 11,321 23,110 12,583 25,636
Operating income 1,433 2,757 2,548 4,270
Net income before non controlling
interests
1,532
1,224
1,411
2,788
Net income 1,319 790 1,171 2,385
French Networks 575 1,291 686 1,428
International Retail Banking 138 (51) (186) 325
Corporate and Investment Banking 868 1,053 482 635
Specialised Financial Services and
Insurance
389
674
330
297
Private Banking, Global Investment
Management and Services
157
(293)
(48)
171
Corporate Centre (808) (1,884) (93) (471)
Activity (in EUR bn)
Total assets and liabilities1,254.1
1,250.91,246.7
1,181.4Customer loans 341.2 350.2 360.5 367.5
Customer deposits 350.0 337.2 348.5 340.2
Equity(in billions of euros)
Group shareholders' equity 49.4 49.3 48.7 47.1
Total consolidated equity 53.3 53.6 52.9 51.1
(*)Items relating to the results for 2012 have been restated due to the implementation of IAS
(International Accounting Standard) 19: the change in accounting method involves the adjustment
of data for the previous year.
Material adverse change in the prospects of the Guarantor since the date of its last publishedaudited financial statements
There has been no material adverse change in the prospects of Socit Gnrale and its consolidated
subsidiaries (taken as a whole) since the date of its last audited financial statements dated 31
December 2012.
Significant changes in the financial or trading position subsequent to the period covered by the
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historical financial information
There have been no significant changes in the financial or trading position of Socit Gnrale and its
consolidated subsidiaries (taken as a whole) since the date of its last published financial statements
dated 30 June 2013.
B.19 B.13 Recent events particular to the Guarantor which are to a material extent relevant to theevaluation of the Guarantor's solvency
There have been no recent events particular to the Guarantor which are to a material extent relevant
to the evaluation of the Guarantor's solvency.
B.19 B.14 Statement as to whether the Guarantor is dependent upon other entities within the group
See Element B.19 B.5 above for the Guarantor's position within the Group.
Socit Gnrale is the ultimate holding company of the Group. However, Socit Gnrale operatesits own business; it does not act as a simple holding company vis--vis its subsidiaries.
B.19 B.15 Guarantor's principal activities
The purpose of Socit Gnrale is, under the conditions determined by the laws and regulationsapplicable to credit institutions, to carry out with individuals and corporate entities, in France or abroad:
all banking transactions;
all transactions related to banking operations, including in particular, investment services or
allied services as listed by Articles L. 321-1 and L. 321-2 of the French Code montaire et
financier;
all acquisitions of interests in other companies.
Socit Gnrale may also, on a regular basis, as defined in the conditions set by the French
Financial and Banking Regulation Committee, engage in all transactions other than those mentionedabove, including in particular insurance brokerage.Generally, Socit Gnrale may carry out, on its own behalf, on behalf of a third-party or jointly, allfinancial, commercial, industrial, agricultural, movable property or real property transactions, directly orindirectly related to the abovementioned activities or likely to facilitate the accomplishment of suchactivities.
B.19 B.16 To the extent known to the Guarantor, whether the Guarantor is directly or indirectly owned orcontrolled and by whom, and nature of such control
Socit Gnrale is not owned or controlled by a parent company.
B.19 B.17 Credit ratings assigned to the Guarantor or its debt securities
Socit Gnrale is rated A2 by Moodys France S.A.S., A by Standard and Poors Credit Market
Services France S.A.S., A by Fitch France S.A.S and AA (low) by DBRS Ratings Limited.
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Moody's France S.A.S., Fitch France S.A.S., Standard & Poor's Credit Market Services France S.A.S.and DBRS Ratings Limited are, as at the date of the Base Prospectus, established in the EuropeanUnion and are registered under Regulation (EC) No. 1060/2009 (as amended) (theCRA Regulation)and are included in the list of registered credit rating agencies published at the website of theEuropean Securities and Markets Authority (www.esma.europa.eu).
Section CSecurities
Element
C.1 Type and the class of the securities being offered and/or admitted to trading, including anysecurity identification number
The Warrants are Index Linked Warrants.
Clearing System(s): Euroclear Sweden AB
ISIN code: DE000SG38584
C.2 Currency of the securities issue
Settlement Currency or Currencies: SEK
C.5 Any restrictions on the free transferability of the securities
There is no restriction on the free transferability of the Warrants, subject to selling and transferrestrictions which apply in certain jurisdictions (including, without limitation, the United States).
C.8 Rights attached to the securities, including ranking and limitations to those rights andprocedures for the exercise of those rights.
Ranking
Warrants will be direct, unconditional, unsecured and unsubordinated obligations of the Issuer and will
rank pari passu without any preference among themselves and (subject to such exceptions as from
time to time exist under applicable law) at least pari passu with all other outstanding direct,
unconditional, unsecured and unsubordinated obligations of the Issuer, present and future.
Governing law
The Warrants and any non-contractual obligations arising out of or in connection with the Warrants 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 totrading, with a view to their distribution in a regulated market or other equivalent markets withindication of the markets in question
Application has been made for the Warrants to be admitted to trading on the regulated market of the
Nordics Derivatives Exchange.
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C.15 How the value of the investment is affected by the value of the underlying instrument(s)
The amount (if any) payable in respect of the Warrants (and therefore the return (if any) that an investor
realises on a Warrant will be determined by reference to, and will therefore depend on, the performance
of the OMX Stockholm 30 index (the Index). A small movement of the Index may result in a
significantly larger increase (in case of upward movement in the Index) or decrease (in case ofdownward movement in the Index) of the return of the Warrants.
The Warrants are designed to track the performance of the Leveraged Strategy, after taking into
account deduction of the Commission, and through tracking the performance of the Leveraged
Strategy, the Warrants provide a daily leveraged long exposure to the Index. The exposure to the Index
provided by the Warrants is amplified by the leveraged factor (the Leverage). Subject to taking into
account certain factors (including notably the Commission and the Underlying Distributions), the
Warrants are designed to multiply the daily performance of the Index by a factor (namely, the Leverage)
(except in limited circumstances, where an intra-day restrike of the Warrants may be triggered to offer
some protection against an extreme fall in the value of the Index).
If, for example, on any trading day the Index moves by 1 per cent. from its closing level on the previous
trading day, the value of the Warrants, subject to certain factors (including notably the Commission andthe underlying dividends), on such trading day will move by approximately 1 per cent multiplied by the
Leverage. The higher the performance of the Index, the higher the return on the Warrants and,
conversely, the lower the performance of the Index, the lower the return on the Warrants.
It is important to note that the exposure of the Warrants to the Index is re-set daily. This means that the
performance of the Warrants with respect to any given trading day is based on how far the Index has
risen or fallen from the level it closed at the trading day before. The next trading day, the process starts
again from the new closing level of the Index. As a result, over periods of more than one day,
movements in the Index are compounded and the performance of the Warrants will potentially deviate
from fifteen times the actual performance of the Index over such period of time depending on the day to
day performance of the Index during such period.
See also Element C.18 below.
C.16 Expiration or maturity date of the derivative securitiesthe exercise date or final reference date
The Expiration Dateof the Warrants will be 21 January 2033
C.17 Settlement procedure of the derivative securities
Cash settlement
C.18 How the return on derivative securities takes place
The Warrants will be settled in cash (Cash Settled Warrants) in an amount equal to the Cash
Settlement Amount.
The Cash Settlement Amountis an amount equal to the excess of:
the Final Settlement Price over the Exercise Price
where
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the Final Settlement Price is determined as follows:
The Final Settlement Price of one Warrant shall be an amount calculated in accordance with the
following formulae:
Final Settlement Price = Notional Amount x Product Formula(T)
Product Formula(T) = BaseSettlementLevel_FSP + (1 / BaseAmount) x Max(InitialValue x FX(0) x
Ratio(T) x (LSCL(T) / LSCL(0)) -C(T);0) x (1 / FX(T+1))
Further information in respect of Base Amount, BaseSettlementLevel_FSP, InitialValue, FX, Ratio,
LSCL and C may be found in C.19.
The Exercise Price is SEK 0; and
Parity is Not applicable.
The Warrants may be exercised early at the option of the Issuer. Warrantholders shall be entitled in
such circumstances to the Optional Early Settlement Amount which shall be an amount determined
in the same manner as the Cash Settlement Amount save that the "Final Settlement Price" will bedeemed to have been determined as at the Optional Early Settlement Valuation Date (as opposed to
the date on which the Final Settlement Price is actually required to be determined under the Additional
Terms and Conditions relating to One-Delta, Fixed Leverage and Turbo Warrants corresponding to the
Reference of the Product).
Where the Issuer does not elect that the Warrants will be subject to early expiration at the option of the
Issuer, the Warrants shall remain subject to exercise or cancellation in accordance with Trigger early
settlement at the option of the Issuer. The Warrants will be cancelled automatically if the number of
outstanding Warrants falls below 10 per cent. of the number of Warrants outstanding on issue,
whereupon the Warrants will be settled by payment of an amount based on the market value of the
Warrants.
C.19 Exercise price or final reference price of the underlying
The Final Settlement Price of one Warrant shall be an amount calculated in accordance with the
following formulae:
Final Settlement Price = Notional Amount x Product Formula(T)
Product Formula(T) = BaseSettlementLevel_FSP + (1 / BaseAmount) x Max(InitialValue x FX(0) x
Ratio(T) x (LSCL(T) / LSCL(0)) -C(T);0) x (1 / FX(T+1))
Where :
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Main definitionsFX(i) means, for any Valuation Date(i), the spot exchange rate as
of the FXSourceFixingTime to convert the BaseCurrency into
the LeveragedStrategyCurrency in respect of such Valuation
Date(i), as published by the FXSource, or any successor
thereto. If no such rate is available on such Valuation
Date(i), FX(i) shall be the first available spot exchange rate
as of the FXSourceFixingTime to convert the BaseCurrency
into the LeveragedStrategyCurrency following such day, as
published by the FXSource, or any successor thereto.
Ratioor Ratio(i) means, for each Valuation Date(i), the value of Ratio(i) in
respect of each Warrant on such Valuation Date(i), which
shall be the value of Ratio(i) on the Valuation Date(i-1)
unless adjusted by the Calculation Agent in accordance with
the following provisions.
If, on any Valuation Date(i) from, but excluding, the InitialValuation Date to, and including, the Final Valuation Date:
C(i) / IV(i) > RatioResetThreshold
then the Calculation Agent shall adjust the value of Ratio(i)
in respect of such Valuation Date(i). The Calculation Agent
may also, on any Valuation Date(i) from, but excluding, the
Initial Valuation Date to, and including, the Final Valuation
Date, elect in its sole discretion to adjust the value of Ratio(i)
in respect of such Valuation Date(i). If the Calculation Agent
adjusts the value of Ratio(i), it shall do so in accordance with
the following formula:
Ratio(i)= (Ratio(i -1) x LSCL(i) - CBEFORE(i) x (LSCL(0) /
(InitialValue x FX(0)))) / LSCL(i)
The initial value of Ratio shall be equal to Ratio(0) =
RatioInitial
LSCL(i) means, for each Valuation Date(i), the Leveraged Strategy
Closing Level as of such Valuation Date(i), as such level
may be adjusted in accordance with the provisions of
"Extraordinary Strategy Adjustment for Performance
Reasons".
CBEFORE(i) is determined in accordance with the following formula:
CBEFORE(i) = C(i -1) + ((ACT(i -1;i) /
DayCountBasisCommission) x (%CommissionRate(i) +
%GapPremiumRate(i) + %CollatCostRate(i) +
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%QuantoRate(i)) x IntrinsicValue(i))
Commission(i), Commission or
C(i)
means, in respect of each Valuation Date(i):
if (i) is the Initial Valuation Date or a day on which the value
of Ratio(i) has been adjusted in accordance with the
definition of "Ratio or Ratio(i)" herein:
0
and otherwise:
C(i) = C(i-1) + (ACT(i-1;i) / DayCountBasisCommission) x
(%CommissionRate(i) + %GapPremiumRate(i) +
%CollatCostRate(i) + %QuantoRate(i)) x IntrinsicValue(i)
Intrinsic Value or
IntrinsicValue(i)
means, in respect of each Valuation Date(i), an amount
determined by the Calculation Agent in accordance with the
following formula:
IntrinsicValue(i) = Max(InitialValue x FX(0) x Ratio(i-1) x
(LSCL(i) / LSCL(0)) - C(i-1);0)
Valuation Date(i) means any Scheduled Trading Day between the Initial
Valuation Date and the Final Valuation Date.
Valuation Date(0) means the Initial Valuation Date,Valuation Date (T) means the Final Valuation Date and for
each day (i) between 1 (included) and (T-1) (included),
Valuation Date(i) is the Scheduled Trading Day immediately
following Valuation Date(i-1).
Initial Valuation Date means 06 December 2013.
Final Valuation Date means 14 January 2033.
Leveraged Strategy
Description of the Leveraged Strategy
The strategy to which the performance of the Warrant is linked is the Leveraged Strategy which
consists of leveraged exposure to the Underlying with a Leverage factor "Leverage" and a
hypothetical money market instrument.
The notional exposure of the Leveraged Strategy to the Underlying is revised on each Valuation
Date in order to take into account the Leveraged Strategy Closing Level as of the previous
Valuation Date, as further described hereinafter.
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Subject to the occurrence of an Intraday Restrike Event, for each Valuation Date(i), the
Leveraged Strategy Closing Levelas of such Valuation Date(i) is calculated in accordance with
the following formulae:
on Valuation Date(0):
LSCL(0)= LSCLInitial
on each subsequent Valuation Date(i):
LSCL(i)= Max(LSCL(i-1) x (1 + Leverage x ((Price(i) / AdjPrice(i-1)) -1) + (1-Leverage) x Rate(i-
1) x ACT(i-1,i) / DayCountBasisRate),0)
Subject to the occurrence of an Intraday Restrike Event, for each Valuation Date(i) and each
Calculation Time(v), the Leveraged Strategy Levelas of such Calculation Time(v) is calculated
in accordance with the following formula:
LSL(i,v)= Max(LSCL(i-1) x (1+ Leverage x ((Price(i,v) / AdjPrice(i-1)) -1) + (1-Leverage) x Rate(i-
1 ) x ACT(i-1,i) / DayCountBasisRate),0)
For the purposes of determining LSCL(i) on a Valuation Date immediately following an Intraday
Restrike Event Reference Day, references to (i-1) in the formula of LSCL(i) above shall be
deemed to be references to (i').
Specific Definitions relating to the Leveraged Strategy
AdjPrice(i-1) is determined, for each Valuation Date(i), according to the
following formula:
Price(i-1) -%DistRate(i) x Dist(i)
CashRateor CashRate(i) means, for each Valuation Date(i):
(1) the level of the RateOvernight for such Valuation
Date(i); or
(2) the last available level displayed of RateOvernight,
if a level of RateOvernight dated as of such
Valuation Date(i)
in both cases as determined by the Calculation Agent
provided that if in the case of (2) above RateOvernight isnot displayed on the RateOvernightScreenPage (or, if
applicable, any successor service or page used by the
Calculation Agent for the purpose of ascertaining such rate)
for a period of more than 7 Valuation Dates and such rate
is, in the opinion of the Calculation Agent, reasonably
expected to be discontinued (such rate then being the
"Discontinued Rate") then the Calculation Agent shall
determine CashRate(i) (a) by selecting a successor rate for
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such Discontinued Rate which offers similar economic
characteristics to the Discontinued Rate or, if the
Calculation Agent determines that no such successor rate
exists, (b) on the basis of the cost that Socit Gnrale
would charge or be charged to borrow cash in the
LeveragedStrategyCurrency on an overnight basis.
Leveraged Strategy Closing
Levelor LSCL(i)
means, for any Valuation Date(i), the Closing Level of the
Leveraged Strategy as of such day (i), as such level may be
adjusted.
Leveraged Strategy Level or
LSL(i,v)
means, for any Valuation Date(i) and any Calculation
Time(v), the latest level of the Leveraged Strategy as of
such Calculation Time(v), as such level may be adjusted.
Rateor Rate(i) means, for each Valuation Date(i), an annual rate
calculated as of such day in accordance with the following
formula:
Rate(i) = CashRate(i) +%SpreadLevel(i)
Price(i) means, in respect of each Valuation Date(i), the closing
price of the Underlying as of such Valuation Date(i), and
subject to the adjustments and provisions relating to
corporate actions and/or extraordinary events.
Price(i,v)means, in respect of each Valuation Date(i) and CalculationTime(v), the intraday price of the Underlying as of suchValuation Date(i) and Calculation Time(v).
Calculation Time means with respect to the Leveraged Strategy, any time
between the scheduled opening time of the Exchange and
FixingTime provided that the relevant data is available to
enable the Calculation Agent to determine the Leveraged
Strategy Level.
Distributions and corporate actions affecting the Underlying: Specific Definitions
Dist(i) means Dist(i-1, i)
Underlying Distributions, or
Dist(i1,i2)
means, for any dates (i1) and (i2), the sum of all Gross
Ordinary Distributions paid in respect of the Underlying,
which have an ex date between (i1) (excluded) and (i2)
(included).
If such Gross Ordinary Distribution is not denominated in
the currency of the Underlying, this Gross Ordinary
Distribution will be converted into such currency by the
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Calculation Agent using the latest available spot exchange
rate as of the FXSourceFixingTime as published on the
Valuation Date immediately preceding the relevant
Valuation Date(i) by the FXSource. If no such rate is
available on the Valuation Date immediately preceding such
Valuation Date(i), such rate shall be the first available spot
exchange rate as of the FXSourceFixingTime to convert
such Gross Ordinary Distribution into the Currency of the
Underlying following such Valuation Date(i), as published
by the FXSource, or any successor service or page used by
the Calculation Agent for the purposes of ascertaining such
rate.
Extraordinary Strategy Adjustment for Performance Reasons
DescriptionIf the Calculation Agent determines that an Intraday Restrike Event has occurred at a Calculation
Time(v) during a Valuation Date(i), an adjustment (an Extraordinary Strategy Adjustment forPerformance Reasons) shall take place during such Valuation Date(i) in accordance with the
following provisions.
The real time calculation of the Leveraged Strategy shall be suspended during the Intraday
Restrike Event Observation Period and resume within 15 minutes following the end of such
Intraday Restrike Event Observation Period (the point of such resumption being theCalculation
Resume Timeand the day on which such resumption occurs being the Calculation Resume Day
or CRD). Should the end of the Intraday Restrike Event Observation Period occur less than 15
minutes before the FixingTime on the Intraday Restrike Event Reference Day, the Calculation
Resume Time shall be the FixingTime which immediately follows the end of the Intraday Restrike
Event Observation Period.
On each Calculation Resume Day, from the Calculation Resume Time, LSCL(CRD) and
LSL(CRD,v) will be determined as follows:
For each Calculation Time(v) during such Calculation Resume Day following the end of the
Intraday Restrike Event Observation Period, the Leveraged Strategy is calculated according to the
following formula:
LSL(CRD,v) = LSL(i',VREF(v)) x (1 + Leverage x ((Price(CRD,v) / AdjPrice(i')) - 1)
+ (1 - Leverage) x Rate(i') x ACT(i',CRD) / DayCountBasisRate)
and at the FixingTime of such Calculation Resume Day:
LSCL(CRD) = LSL(i',VREF(v)) x (1 + Leverage x ((Price(CRD) / AdjPrice(i')) - 1) +
(1 - Leverage) x Rate(i') x ACT(i',CRD) / DayCountBasisRate)
Specific Definitions
(i) means the Intraday Restrike Event Reference Day which
corresponds to the Intraday Restrike Event immediately preceding
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the Calculation Time(v).
AdjPrice(i) is determined according to the following formula:
AdjPrice(i' ) = Price(i',VREF(v)) - %DistRate(CRD) x Dist(i',CRD)
Intraday Reference Level means, in respect of Valuation Date(i) and a Calculation Time(v),
the Underlying level as of (1) the last Intraday Restrike Event
Reference Time preceding and excluding such Calculation Time(v)
or (2) if no Intraday Restrike Event has occurred on such day, the
closing level of the Underlying on the immediately preceding
Valuation Date.
Intraday Restrike Event means, in respect of a Valuation Date(i), the decrease at a
Calculation Time(v) of the Underlying level below
DailyRestrikePercentage of the relevant Intraday Reference Level at
such Calculation Time.
Intraday Restrike Event
Observation Period
means in respect of an Intraday Restrike Event, the period starting
on and excluding the Intraday Restrike Event Time and finishing on
and including the time falling 15 minutes after the Intraday Restrike
Event Time.
Where, during such 15 minute period, the Calculation Agent
determines that (1) the level of the Underlying is not disseminated by
the Index Sponsor or (2) the Exchange or the Related Exchange is
not open for continuous trading, the Intraday Restrike Event
Observation Period will be extended to the extent necessary until (1)
the level of the Underlying is calculated and disseminated by the
Index Sponsor and (2) the Exchange and the Related Exchange areopen for continuous trading for an aggregate period of 15 minutes.
If the Intraday Restrike Event Observation Period would not end by
the FixingTime: (1) such day will not be a Valuation Date for the
purposes of determining any element of the Leveraged Strategy,
except (a) for the purpose of calculating LSL(i,vREF(v)) and
AdjPrice(i) (and the constituent parts thereof) corresponding to the
applicable Intraday Restrike Event and (b) for the purpose of
calculating LSL(i,vREF(v)) and AdjPrice(i) (and the constituent parts
thereof) with respect to any previous Intraday Restrike Event that
has occurred on such day, if any; and (2) such Intraday Restrike
Event Observation Period shall be extended to the followingValuation Date to the extent necessary until the Calculation Agent
determines that (a) the level of the Underlying is calculated and
disseminated by the Index Sponsor and (b) the Exchange and the
Related Exchange are open for continuous trading for an aggregate
period of 15 minutes.
For the purpose of determining the Intraday Restrike Event
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AdjPrice(i(REF)) = Price(i'',v1) - %DistRate(i') x Dist(i'',i')
(2) or otherwise:
AdjPrice(i(REF)) = Price(i'-1) - %DistRate(i') x Dist(i'-1,i')
VREF(v) means the latest Intraday Restrike Event Reference Time preceding,and excluding, Calculation Time(v).
Applicable Rates
%CollatCostRate(i) means 0%
%CommissionRate(i) means, in respect of each Valuation Date(i), the annualcommission rate as of such Valuation Date(i). The level ofthe annual commission rate will be determined by theCalculation Agent. %CommissionRate(i) is subject to aminimum of 0% and maximum of 2% and is initially equal to0.45% at the Initial Valuation Date.
%DistRate(i) means 70%
%GapPremiumRate(i) means, for each Valuation Date(i), the annual gap premiumrate as of such Valuation Date(i), as determined by theCalculation Agent as the cost that the Issuer (and/or itsaffiliates) would charge to replicate the performance of theLeveraged Strategy, which includes, inter alia, the costs ofhedging the risk of the fair value of the Warrant becomingnegative.
%QuantoRate(i) means 0%
%SpreadLevel(i) Means 0.50%
Variable Data
BaseAmount Means the Notional Amount per Warrant
BaseCurrency Means SEK
BaseSettlementLevel_FSP Means 0%
DailyRestrikePercentage Means 94.5%
DayCountBasisCommission Means 365
DayCountBasisRate Means 360
FixingTime Means the scheduled closing time of the Stockholm StockExchange
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FXSource Means the WM Company
FXSourceFixingTime Means the closing fixing time of the WM Company
InitialValue Means the Issue Price
Leverage Means 15
LeveragedStrategyCurrency Means SEK
LSCLInitial Means 50.0000
RatioResetThreshold Means 20%
RateOvernight Means Stockholm Interbank Offered Rate T/N
RateOvernightScreenPage Means STIBORTN= Reuters page
RatioInitial Means 1
C.20 Type of the underlying and where the information on the underlying can be found
Index: OMX Stockholm 30 Index (Reuters: .OMXS30)
Index Sponsor: OMX AB (publ)
Website: https://indexes.nasdaqomx.com
Section DRisks
Element
D.2 Key information on the key risks that are specific to the Issuer
There are certain factors that may affect each of the Issuers and the Guarantors ability to fulfil its
obligations with respect to Warrants issued under the Programme. These include factors which
may impact the creditworthiness and/or the credit ratings (if applicable) of the Issuer and/or the
Guarantor such as a change in the economic and/or political and/or financial environment.
Furthermore, the Issuer and the Guarantor are subject to (and hence their ability to perform their
obligations with respect to the Warrants and the Guarantee are potentially affected by): general
operational risks, potential conflicts of interest in connection with the Warrants, market risk in
connection with various financial markets, risks arising in connection with their investment
portfolios, risks arising in connection with any potential non-compliance with legal, regulatory and
tax requirements (including reputational risks), interest and exchange rate risk, liquidity risk,
strategic risk, general business risk, risk related to their insurance activities, where applicable,
risks related to their specialised finance activities and credit and counterparty risk (including
country risk), and risks associated with their hedging and trading activity (or the hedging and
trading activity of any of their affiliates), any of which could affect the value of the Warrants.
Investors should also understand that there are risks associated with the lack of independence of
the Issuer from the Guarantor.
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D.3 Key information on the key risks that are specific to the securities
Investors should be aware of the risks relating to the Warrants, which such risks depend on the
particular features of the Warrants and include: (i) Warrantholders will have no rights in respect of
or recourse to the underlying, (ii) the market value of the Warrants may be difficult to determineand/or may be volatile and (iii) Warrantholders may lose of all or part of their investment and/or
not realise any return on the Warrants due to the performance of the underlying.
D.6 Important warning to the investor
WARRANTS CAN BE VOLATILE AND/OR LEVERAGED INVESTMENTS. CERTAIN ISSUES
OF WARRANTS MAY NOT BE SUITABLE INVESTMENTS FOR ALL INVESTORS. NO
INVESTOR SHOULD PURCHASE A WARRANT UNLESS SUCH INVESTOR UNDERSTANDS,
AND IS ABLE TO BEAR THE YIELD, MARKET LIQUIDITY, STRUCTURE, CANCELLATION,
SETTLEMENT AND OTHER RISKS ASSOCIATED WITH THE WARRANT.
INVESTORS COULD SUSTAIN AN ENTIRE LOSS OF THEIR INVESTMENT AND SHOULD
THEREFORE REACH AN INVESTMENT DECISION ON THE WARRANTS ONLY AFTER
CAREFUL CONSIDERATION WITH THEIR OWN ADVISERS AS TO THE SUITABILITY OF
THE PURCHASE IN LIGHT OF THEIR PARTICULAR FINANCIAL CIRCUMSTANCES.
Section EOffer
Element
E.2b Reasons for the offer and use of proceeds when different from making profit and/orhedging certain risks
The net proceeds from the Warrants will be applied for the general financing purposes of the
Socit Gnrale group of companies, which include making a profit.
E.3 Description of the terms and conditions of the offer
Not Applicable
Public Offer Jurisdiction(s): Not Applicable
Offer Period: Not ApplicableOffer Price per Warrant: Not Applicable
Conditions to which the offer is subject: Not Applicable
Description of the application process: Not Applicable
Description of possibility to reduce
subscriptions and manner for refunding
excess amount paid by applicants:
Not Applicable
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Details of the minimum and/or maximum
amount of application:
Not Applicable
Details of the method and time limits for
paying up and delivering the Warrants:
Not Applicable
Manner and date in which results of the offerare to be made public:
Not Applicable
Procedure for exercise of any right of pre-
emption, negotiability of subscription rights
and treatment of subscription rights not
exercised:
Not Applicable
Whether Issue(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:
Not Applicable
Name(s) and address(es), to the extent
known to the Issuer, of the placers in the
various countries where the offer takes place:
Not Applicable
E.4 Description of any interest that is material to the issue/offer including conflicting interests
Save for any fees payable to the Manager, so far as the Issuer is aware, no person involved in the
issue of the Warrants has an interest material to the offer.
E.7 Estimated expenses charged to the investor by the Issuer or the offeror
Not Applicable. No expenses are charged to the investor by the Issuer or the Offeror
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SAMMANFATTNING AV PROGRAMMET
Sammanfattningar bestr av informationskrav som kallas Avsnitt. Dessa Avsnitt har numrerats i avsnitt AE (A.1E.7).Denna sammanfattning innehller alla de Avsnitt som ska tas upp i en sammanfattning avseende vrdepapperen ochEmittenten. Eftersom en del Avsnitt inte behver tas upp, kan det finnas luckor i numreringen av Avsnitten.
ven om ett Avsnitt ska infogas i sammanfattningen p grund av egenskaperna hos vrdepapperen och emittentenr det mjligt att ingen relevant information kan uppges angende Avsnittet i frga. I sdana fall finns en kortbeskrivning av Avsnittet med i sammanfattningen markerat som Ej Tillmpligt. Hnvisningar i denna
sammanfattning till Emittenten avser SG Issuer, SGA Socit Gnrale Acceptance N.V. eller Socit GnraleEffekten GmbH som fallet kan vara fr en specifik emission av Warranter.
Avsnitt AIntroduktion och varningar
Avsnitt
A.1 Varning
Denna sammanfattning ska lsas som en introduktion till Grundprospektet.
Varje beslut om att investera i Warranterna ska baseras p ett vervgande av Grundprospektet idess helhet.
Om yrkande avseende uppgifterna i Grundprospektet anfrs vid domstol, kan den investeraresom r krande i enlighet med den nationella lagstiftningen i Medlemsstaterna till det EuropeiskaEkonomiska Samarbetsomrdet (EES) bli tvungen att svara fr kostnaderna fr versttning avprospektet innan de rttsliga frfarandena inleds.
Civilrttsligt ansvar kan endast lggas de personer som lagt fram sammanfattningen, inklusiveversttningar drav, men endast om sammanfattningen r vilseledande, felaktig eller ofrenligmed de andra delarna av prospektet eller om den inte, tillsammans med andra delar avprospektet, ger nyckelinformation fr att hjlpa investerare nr de vervger att investera iWarranterna.
A.2 Samtycke till anvndning av grundprospektet
Ej tillmpligtEmittenten har inte givit sitt samtycke till att Grundprospektet anvnds av en tredje
part fr tersljning eller placering av Warranterna.
Avsnitt BEmittenter och Garantigivare
Avsnitt
B.1 Emittentens registrerade firma och handelsbeteckning
Socit Gnrale Effekten GmbH
B.2 Ste, bolagsform, lagstiftning och land i vilket bolaget bildades
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Socit Gnrale Effekten GmbH
Ste: Neue Mainzer Strasse 46-50, 60311 Frankfurt am Main, Tyskland.Bolagsform: Limited Aktiebolag liability company (Gesellschaft mit beschrnkter Haftung (GmbH)).Lagstiftning som tillmpas fr Emittentens verksamhet: tysk lag.Land i vilket bolaget bildades: Tyskland
B.4b Knda trender som pverkar Emittenten och alla branscher dr denne r verksam
Socit Gnrale Effekten GmbH. frvntar sig att verksamheten under resterande delen av
verksamhetsret kommer att fortstta p samma stt som det har gjort tidigare under r 2013.
B.5 Beskrivning av den koncern Emittenten tillhr och Emittentens stllning inom denna
Socit Gnrale Effekten GmbH r ett dotterbolag till Socit Gnrale Group och har inga
dotterbolag.
B.9 Uppgift om frvntat eller berknat resultat
Ej tillmpligt Socit Gnrale Effekten GmbH har inte lmnat ngon vinstprognos eller ngotvinstestimat.
B.10 Beskrivning av typen av eventuella anmrkningar i revisionsberttelsen avseende denhistoriska finansiella informationen
Ej tillmpligt. Revisionsberttelsen innehller inga anmrkningar.
B.12 Utvald vsentlig historisk finansiell information fr Emittenten
Socit Gnrale Effekten GmbH
(in EUR) 30 juni, 2013 31 december,2012
(reviderad)
30 juni, 2012 31 december,2011
(reviderad)(000) (000) (000) (000)
Rrelseintkter 55 215 52 103
Rrelseresultat 0 0 0 0
Resultat frnkvarvarandeverksamhet
0 0 0 0
Vinst och vinst efterutspdning per aktie
0 0 0 0
Summa tillgngar 22 522 679 30 434 004 39 422 013 43 158 609
Utdelning per aktie 0 0 0 0
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Vsentliga negativa frndringar som har gt rum i Emittentens framtidsutsikter sedan densenast offentliggjorda reviderade redovisningen
Inga vsentliga negativa frndringar har gt rum i framtidsutsikterna fr Socit Gnrale EffektenGmbH sedan den senast offentliggjorda reviderade redovisningen, daterad den 31 december 2012.
Vsentliga frndringar i Emittentens finansiella situation eller stllning p marknaden efterden period som tcks av den historiska finansiella informationen
Det inte frekommit ngra vsentliga frndringar i den finansiella situationen eller stllningen p
marknaden fr Socit Gnrale Effekten GmbH sedan de senast publicerade finansiella rapporterna
den 30 juni 2013.
B.13 Hndelser som nyligen har intrffat och som r specifika fr Emittenten i den utstrckningende har en vsentlig inverkan p bedmningen av Emittentens solvens
Det har inte frekommit ngra hndelser som nyligen har intrffat och som r specifika fr Socit
Gnrale Effekten GmbH vilka har en vsentlig inverkan p bedmningen av solvens fr Socit
Gnrale Effekten GmbH.
B.14 Uttalande om huruvida Emittenten r beroende av andra fretag inom koncernen
Se Avsnitt B.5 ovan fr en beskrivning av position inom koncernen fr Socit Gnrale EffektenGmbH.
Socit Gnrale Effekten GmbH r inte beroende av andra enheter inom Koncernen.
B.15 Emittentens huvudsakliga verksamhet
Socit Gnrale Effekten GmbH:s verksamhetsndaml r att emittera och slja vrdepapper ochdrtill relaterade aktiviteter, med undantag fr sdana som krver tillstnd. Bolaget verkar inom
emittering och placering av vrdepapper, huvudsakligen warranter och certifikat, samt drtill
relaterade aktiviteter. Bankverksamhet ssom definierat i den tyska banklagen (Kreditwesengesetz,
KWG) omfattas ej av verksamhetsndamlet. Socit Gnrale Effekten GmbH r en finansiell
entitet ssom definierat i stycke 1(3) mening 1, punkt 5 KWG.
B.16 Svitt Emittenten har knnedom, i vilken utstrckning Emittenten r direkt eller indirekt gdeller kontrollerad, vem som utvar denna kontroll och vad denna kontroll bestr i
Socit Gnrale Effekten GmbH r ett dotterbolag som till 100 % gs av Socit Gnrale, Parisoch bolaget r ett fullstndigt konsoliderat bolag.
B.17 Kreditvrderingsbetyg som tilldelats Emittenten eller Emittentens skuldebrev
Socit Gnrale Effekten GmbH har inte tilldelats ngot kreditvrdighetsbetyg.
B.18 Garantins art och tillmpningsomrde
Punktlig betalning av alla frfallna belopp av Socit Gnrale Effekten GmbH gllande nmndaWarranterna r ovillkorligen och oterkalleligen garanterade av Garantigivaren i enlighet med
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garantiavtalet, med frbehll fr att garantin inte ska glla fr ngra Warranter som utfrdas p ellerefter datumet fr Garantin av Socit Gnrale Effekten GmbH, i den omfattning, videmissionsdatumet (Emissionsdatumet) fr sdana Warranter, produkten av antalet emitteradeWarranter och deras emissionskurs (med beaktande av eventuell kvittning, sammanlggning avkonton, avrkning eller andra liknande arrangemang vilka frn tid till annan kan t illmpas avEmittenten i frhllande till sdana personer till vilka emittenten str i skuld till) nr dessa frfaller till
betalning, omvandlat till Euro enligt tillmplig avistakurs fr sdana emissionsdatum, r lika med ettbelopp som verskrider 75 000 000 000 .
B.19 Upplysningar om garantigivaren p samma stt som om garantigivaren hade varit Emittent avsamma typ av vrdepapper som utgr fremlet fr garantin
B.19 B.1 Garantigivarens registrerade firma och handelsbeteckning
Socit Gnrale
B.19 B.2 Ste, bolagsform, lagstiftning och land i vilket bolaget bildades
Socit GnraleSte: 29, boulevard Haussmann, 75009 Paris, Frankrike.Bolagsform: Publikt aktiebolag (socit anonyme).Lagstiftning som tillmpas fr Emittentens verksamhet: Fransk lagstiftning.Land i vilket bolaget bildades: Frankrike.
B.19B.4b
Knda trender som pverkar Garantigivaren och alla branscher dr denne r verksam
Avsevrd men samtidigt ojmn frsmring av den globala ekonomiska miljn, rekommendation frnEuropeiska centralbanken att uppn en Core Tier 1 p minst 9 % under Basel 2.5 frn den 30 juni2012, Vickers rapport i Storbritannien som freslr att man separerar bankernas retail-verksamhetfrn deras vriga bankverksamhet (en frga som kommer att tas upp av Europeiska Unionen underr 2012), andra omrden som ses ver av Financial Stability Board r bland annat harmonisering avbokfringsstandarder, ersttningspraxis, regler f