Obligation Air Liquide Finance S.A 2.875% ( FR001400CND2 ) en EUR

Air Liquide Finance S.A

100 % ⇌

France

FR001400CND2 ( en EUR )

2.875% par an ( paiement annuel )

16/09/2032 - Obligation échue

Prospectus brochure de l'obligation Air Liquide Finance S.A FR001400CND2 en EUR 2.875%, échue

100 000 EUR

600 000 000 EUR

Air Liquide Finance S.A. est la filiale financière d'Air Liquide, gérant les activités de financement et de trésorerie du groupe.

L'Obligation émise par Air Liquide Finance S.A ( France ) , en EUR, avec le code ISIN FR001400CND2, paye un coupon de 2.875% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 16/09/2032

MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ELIGIBLE
COUNTERPARTIES ONLY TARGET MARKET Solely for the purposes of each manufacturer's
product approval process, the target market assessment in respect of the Notes has led to the conclusion that:
(i) the target market for the Notes is eligible counterparties and professional clients only, each as defined in
Directive 2014/65/EU, as amended ("MiFID II"); and (ii) all channels for distribution of the Notes to
eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or
recommending the Notes (a "distributor") should take into consideration the manufacturers' target market
assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market
assessment in respect of the Notes (by either adopting or refining the manufacturers' target market
assessment) and determining appropriate distribution channels.
UK MIFIR PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ELIGIBLE
COUNTERPARTIES ONLY TARGET MARKET Solely for the purposes of each manufacturer's
product approval process, the target market assessment in respect of the Notes has led to the conclusion that:
(i) the target market for the Notes is eligible counterparties, as defined in the FCA Handbook Conduct of
Business Sourcebook ("COBS"), and professional clients, as defined in Regulation (EU) No 600/2014 as it
forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR"); and
(ii) all channels for distribution of the Notes to eligible counterparties and professional clients are
appropriate. Any person subsequently offering, selling or recommending the Notes (a distributor) should
take into consideration the manufacturers' target market assessment; however, a distributor subject to the
FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK MiFIR Product
Governance Rules") is responsible for undertaking its own target market assessment in respect of the Notes
(by either adopting or refining the manufacturers' target market assessment) and determining appropriate
distribution channels.
PROHIBITION OF SALES TO EUROPEAN ECONOMIC AREA RETAIL INVESTORS The Notes
are not intended to be offered, sold or otherwise made available to and should not be offered, sold or
otherwise made available to any retail investor in the European Economic Area ("EEA"). For these
purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11)
of Article 4(1) of MiFID II; or (ii) a customer within the meaning of Directive 2016/97/EU, as amended,
where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of
MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129, as amended
(the "Prospectus Regulation"). Consequently, no key information document required by Regulation (EU)
No 1286/2014 (the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them
available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or
otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs
Regulation.
PROHIBITION OF SALES TO UNITED KINGDOM RETAIL INVESTORS The Notes are not
intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise
made available to any retail investor in the United Kingdom (the "UK"). For these purposes, a retail investor
means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation
(EU) No 2017/565 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ("EUWA"); or (ii) a customer within the meaning of the provisions of the Financial Services and
Markets Act 2000, as amended ("FSMA") and any rules or regulations made under the FSMA to implement
Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point
(8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of UK domestic law by virtue of the
EUWA; or (iii) not a qualified investor as defined in the Prospectus Regulation as it forms part of UK
domestic law by virtue of the EUWA. Consequently, no key information document required by Regulation

(EU) No 1286/2014 as it forms part of UK domestic law by virtue of the EUWA (the "UK PRIIPs
Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the
UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any
retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
PROHIBITION OF SALES TO CONSUMERS IN BELGIUM Notes issued under the Programme are
not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise
made available to, "consumers" (consument/consommateur) within the meaning of the Belgian Code of
Economic Law (Wetboek van economisch recht/Code de droit économique), as amended.

Final Terms dated 14 September 2022
Euro 12,000,000,000 Euro Medium Term Note Programme
unconditionally and irrevocably guaranteed by L'Air Liquide S.A. in respect of Notes
issued by Air Liquide Finance
Issue of Euro 600,000,000 2.875 per cent. Notes due 16 September 2032 (the "Notes")
by Air Liquide Finance (the "Issuer")
unconditionally and irrevocably guaranteed by
L'Air Liquide S.A. (the "Guarantor")
SERIES NO: 41
TRANCHE NO: 1
BARCLAYS
BNP PARIBAS
COMMERZBANK
GOLDMAN SACHS BANK EUROPE SE
IMI INTESA SANPAOLO
MUFG
(the "Joint Lead Managers")

PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions of the
Notes (the "Conditions") set forth in the Debt Issuance Programme Prospectus dated 11 May 2022 and the
first supplement dated 8 September 2022 which together constitute a Debt Issuance Programme Prospectus
for the purposes of Article 8 of the Regulation (EU) 2017/1129, as amended (the "Prospectus Regulation").
This document constitutes the Final Terms of the Notes described herein for the purposes of Article 8 of the
Prospectus Regulation and must be read in conjunction with such Debt Issuance Programme Prospectus as
so supplemented in order to obtain all the relevant information. The Debt Issuance Programme Prospectus,
the first supplement thereto and the Final Terms are available for viewing at the specified office of the Fiscal
Agent or the Paying Agent and on the websites of (a) the Luxembourg Stock Exchange (www.bourse.lu) and
(b) the Issuer (www.airliquide.com) and copies may be obtained from the Guarantor, 75, quai d'Orsay,
75007 Paris, France and the Issuer, 6, rue Cognacq-Jay, 75007 Paris, France.
1
(i)
Series Number:
41
(ii) Tranche Number:
1
2
Specified Currency:
Euro ("EUR")
3
Aggregate Nominal Amount:
(i)
Series:
EUR 600,000,000
(ii) Tranche:
EUR 600,000,000
4
Issue Price:
99.086 per cent. of the Aggregate Nominal
Amount
5
Specified Denomination:
EUR 100,000
6
(i)
Issue Date:
16 September 2022
(ii) Interest Commencement Date:
16 September 2022
7
Maturity Date:
16 September 2032
8
Interest Basis:
2.875 per cent. Fixed Rate
(further particulars specified below)
9
Change of Interest Basis:
Not Applicable
10
Put/Call Options:
Change of Control Put Option
Make-Whole Redemption by the Issuer
Residual Maturity Call Option
Clean-Up Call Option
(further particulars specified below)
11
(i)
Status of the Guarantee:
Unsubordinated
(ii) Dates of the corporate authorisations for
Decision of the Board of Directors of Air
issuance of the Notes:
Liquide Finance dated 8 April 2022.
A4905379413 Sep 2022
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PROVISIONS RELATING TO INTEREST PAYABLE
12
Fixed Rate Note Provisions:
Applicable
(i)
Rate of Interest:
2.875 per cent. per annum payable
annually in arrear on each Interest
Payment Date
(ii) Interest Payment Dates:
16 September in each year commencing on
16 September 2023 and ending on the
Maturity Date
(iii) Fixed Coupon Amount:
EUR 2,875 per Note of EUR 100,000
Specified Denomination
(iv) Broken Amount:
Not Applicable
(v)
Day Count Fraction (Condition 6(a)):
Actual/Actual-ICMA
(vi) Interest
Determination
Dates
(Condition 6(a)):
16 September in each year
13
Floating Rate Note Provisions:
Not Applicable
14
Zero Coupon Note Provisions:
Not Applicable
PROVISIONS RELATING TO REDEMPTION
15
Call Option:
Not Applicable
16
Make-Whole Redemption by the Issuer
(Condition 7(b)):
Applicable
(i)
Notice period:
As per Condition 7(b)
(ii)
Reference Security:
DBR 1.700 per cent. Federal Government
Bond of the Bundesrepublik Deutschland
due
15 August 2032,
with
ISIN
DE0001102606
(iii)
Reference Dealers:
As per Condition 7(b)
(iv)
Similar Security:
Reference bond or reference bonds issued
by the German Federal Government
having an actual or interpolated maturity
comparable with the remaining term of the
Notes that would be utilised, at the time of
selection
and
in
accordance
with
customary financial practice, in pricing
new issues of corporate debt securities of
comparable maturity to the remaining term
of the Notes.
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(v)
Party responsible for calculating the
Optional Redemption Amount (if not the
Calculation Agent):
Aether Financial Services
(vi)
Redemption Margin:
+0.200 per cent. per annum
17
Residual Maturity Call Option
(Condition 7(d)):
Applicable
(i)
Call Option Date:
16 June 2032
(ii)
Notice period:
As per Condition 7(d)
18
Clean-Up Call Option (Condition 7(e))
Applicable
Clean-Up Redemption Amount:
Final Redemption Amount
19
Put Option:
Not Applicable
20
Change of Control Put Option:
Applicable
21
Final Redemption Amount of each Note:
Redemption at par
22
Early Redemption Amount:
(i)
Early Redemption Amount(s) of each Note
payable on redemption for taxation reasons
(Condition
7(g)),
for
illegality
(Condition 7(k)) or an event of default
(Condition 10):
EUR 100,000 per Note of EUR 100,000
Specified Denomination
(ii) Redemption for taxation reasons permitted
on days others than Interest Payment Dates
(Condition 7(g)):
Yes
(iii) Unmatured Coupons to become void upon
early redemption (Materialised Bearer
Notes only) (Condition 8(f)):
Not Applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
23
Form of Notes:
Dematerialised Notes
(i)
Form of Dematerialised Notes:
Bearer dematerialised form (au porteur)
(ii) Registration Agent:
Not Applicable
(iii) Temporary Global Certificate:
Not Applicable
(iv) Applicable TEFRA exemption:
Not Applicable
24
Possibility to request identification of the
Noteholders as provided by Condition 1(a)(i):
Applicable
25
Payments on Non-Business Days
(Condition 8(h))
(i)
Financial Centre(s):
Not Applicable
A4905379413 Sep 2022
5

(ii) Business Day Convention:
Following
26
Talons for future Coupons to be attached to
Definitive Notes (and dates on which such
Talons mature):
Not Applicable
27
Redenomination:
Not Applicable
28
Possibility of resale of purchased Notes in
accordance
with
applicable
laws
and
regulations:
Applicable
Signed on behalf of the Issuer:
By: ________________________
Jacques Molgo, Deputy Chief Executive Officer
Duly authorised
Signed on behalf of the Guarantor:
By: ________________________
Jérôme Pelletan, Chief Financial Officer
Duly authorised
A4905379413 Sep 2022
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PART B OTHER INFORMATION
1
ADMISSION TO TRADING
(i)
Admission to trading:
Application has been made for the Notes to be
admitted to trading on the Regulated Market of
the Luxembourg Stock Exchange and to be
listed on the Official List of the Luxembourg
Stock Exchange with effect from 16 September
2022.
(ii) Estimate of total expenses related to admission to
trading:
EUR 6,800
(iii) Regulated markets or equivalent markets on which,
to the knowledge of the Issuer, securities of the same
class of the securities to be offered or admitted to
trading are already admitted to trading:
Not Applicable
2
RATINGS
Ratings:
The Notes to be issued are expected to be rated:
S&P Global Ratings Europe Limited ("S&P"): A
Moody's Deutschland GmbH ("Moody's"): A2
Each of S&P and Moody's is established in the
European Union, is registered under Regulation
(EC) No 1060/2009, as amended (the "CRA
Regulation") and is included in the list of credit
rating agencies registered in accordance with the
CRA Regulation published on the European
Securities and Markets Authority's website
(www.esma.europa.eu/supervision/credit-rating-
agencies/risk).
3
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
So far as the Issuer is aware and save for the underwriting fees payable to the Joint Lead Managers and potential
conflicts of interests referred to under the heading "Potential conflicts of interest" in the section General
Information of the Debt Issuance Programme Prospectus, no person involved in the offer of the Notes has an
interest material to the offer. The Joint Lead Managers and their affiliates have engaged, and may in the future
engage, in lending, investment banking and/or commercial banking transactions with, and may perform other
services for, the Issuer and its affiliates in the ordinary course of business.
4
YIELD
Indication of yield:
2.982 per cent. per annum
The yield is calculated at the Issue Date on the
basis of the Issue Price. It is not an indication of
future yield.
A4905379413 Sep 2022
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5
OPERATIONAL INFORMATION
ISIN:
FR001400CND2
Common Code:
253478390
Depositaries:
(i)
Euroclear France to act as Central Depositary:
Yes
(ii) Common Depositary for Euroclear and Clearstream:
No
Any clearing system(s) other than Euroclear and
Clearstream and the relevant identification number(s):
Not Applicable
Delivery:
Delivery against payment
Names and addresses of additional Paying Agent(s) (if
any):
Not Applicable
6
GENERAL
The aggregate principal amount of Notes issued has been
translated into Euro at the rate of [] producing a sum of:
Not Applicable
Use of proceeds:
The net proceeds will be used for the Air Liquide
Group's general corporate purposes.
Estimated net proceeds:
EUR 593,316,000
7
DISTRIBUTION
(i)
Method of distribution:
Syndicated
(ii)
If syndicated:
(A)
Names of the Joint Lead Managers:

Barclays Bank Ireland PLC
BNP Paribas
Commerzbank Aktiengesellschaft
Goldman Sachs Bank Europe SE
Intesa Sanpaolo S.p.A.
MUFG Securities (Europe) N.V.
(B)
Stabilisation Manager if any:
BNP Paribas
(iii)
If non-syndicated, name of Dealer:
Not Applicable
(iv)
US Selling Restrictions (Categories of potential
investors to which the Notes are offered):
Reg. S Compliance Category 2 applies to the
Notes; TEFRA not applicable
(v)
Prohibition of Sales to EEA Retail Investors:
Applicable
(vi) Prohibition of Sales to UK Retail Investors:
Applicable
(vii) Additional information in respect of the Canadian
selling restriction:
Not Applicable
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