NATIXIS_REGISTRATION_DOCUMENT_2017

5 FINANCIAL DATA

Parent company financial statements and notes

SUBORDINATED DEBT

NOTE 18

2017

2016

(in millions of euros)

Dated subordinated debt

3,036

3,576 1,236 2,340 2,014

Subordinated notes Subordinated loans

736

2,300 2,433

Undated subordinated debt

Participating loans Subordinated notes Subordinated loans

36

36

2,397

1,978

Accrued interest

38

61

5,507

5,651

Debt representing10%of the total amountof subordinateddebt:

Subordination condition (immediately senior ranking)

Rate and duration before first redemption date

Liabilities convertible into equity

Date of issuance

Amount of issuance

Frequency of coupon

Rate after first redemption date

Maturity date Currency

2017

2016

No redemption

Unsecured creditors Unsecured creditors

06.27.2014

06.27.2026

EUR

900,000,000

Quarterly Euribor 3M+2%

clause 900,000,000.00 900,000,000.00 Non-convertible

Euribor 3M+230bp

No redemption

07.29.2015

07.29.2027

EUR 1,000,000,000

Quarterly

clause 1,000,000,000.00 1,000,000,000.00 Non-convertible

Perpetual deeply subordinated notes Natixis issued Perpetual deeply subordinatednotes which offer unit-holdersfixed rate or variable rate income and which may be redeemed at the end of a set period and then at each coupon anniversary date. In the event of non-redemptionat the end of this period, for some of these issues, a variable coupon indexed to the EURIBORor LIBORwill be paid. Interestnormallydue on deeply subordinatednotes is mandatory once a dividend has been paid on Natixis shares. However, for any other period, the contractual conditions of deeply subordinated notes state that the issuer may suspend the paymentof this interestas non-paidcouponsare not deferred. Due to the existence of a loss-absorption clause, the nominal value of the securitiesmay be reduced in the event of regulatory capital inadequacy to serve as a new basis for determining coupon amounts. The original nominal value may however be reconstitutedunder certainconditions. In the event of the liquidation of Natixis and regardless of any reduction to the securities’ original nominal value, unit-holders will bear their securitiesat their originalnominalvalue.

Non-voting shares The non-votingshares issued by Natixis in November 1985may only be redeemed if the company is liquidated but may be eligible for buyback under the terms set out by the law dated January 3,1983. Redeemable Subordinated Debt Redeemable subordinated debt issued by Natixis includes medium- or long-term loans or securities equivalent to ordinary subordinateddebt. They are redeemable before the contractual maturity date in the event of liquidation of the issuer, and rank after other creditorsbut beforeholdersof the super subordinated notes. Following approval by the banking supervisory authority and at the initiative of the issuing company, redeemable subordinated debt may be subject to early redemption through repurchasing on the stock market, or over the counter in the case of private debt, as of a date set in the issue notice or purchaseagreement or in the event of changes to current tax and regulatoryrules. In all cases, these redemptionsare subject to the approval of the bankingsupervisoryauthorities.

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Natixis Registration Document 2017