AXA announced the final results of its offer to exchange four series of Euro- and GBP-denominated undated deeply subordinated notes into two new series of Euro- and GBP-denominated undated deeply subordinated notes

November 6, 2014

The following documents do not constitute an offer to subscribe to AXA securities in any jurisdiction. These securities may not be offered or sold in the United States, Canada, Japan and Australia. No securities may be offered or sold in the United States absent registration with the Securities and Exchange Commission under the U.S. Securities Act of 1933 as amended, or by virtue of an exemption from registration. AXA has no intention to register the transaction in the United States or to make an offering of its securities in the United States.

Prospectus

AXA_Prospectus_Euros_20141106.pdf

Prospectus of the Euro-denominated notes

AXA_Prospectus_GBP_20141106.pdf

Prospectus of the GBP-denominated notes

Press release

AXA_PRrestricted_20141106.pdf

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AXA announced the final results of its offer to exchange four series of Euro- and GBP

Disclaimer - Financial operations - November 6, 2014

AXA announced today the final results of its offer to exchange any and all of the notes of the following series:

€1,000,000,000 Fixed to Floating Rate Undated Deeply Subordinated Notes (first call date in 2016);

€750,000,000 Fixed to Floating Rate Undated Deeply Subordinated Notes (first call date in 2017);

£500,000,000 Fixed to Floating Rate Undated Deeply Subordinated Notes (first call date in 2016);

£700,000,000 Fixed to Floating Rate Undated Deeply Subordinated Notes (first call date in 2019). 

On October 29th, AXA offered to eligible holders the possibility to exchange their existing notes for new undated deeply subordinated notes. This transaction is part of AXA's active management of its refinancing program aiming to ensure adequate visibility and optimum terms for the renewal of its outstanding debt maturing in the coming years.

The exchange offer has now been successfully completed resulting in the issuance of:

€984,025,000 undated deeply subordinated resettable notes with an initial spread over mid-swap of 290 basis points, initial coupon set at 3.941% per annum until the first call date in 2024 and thereafter reset every 10 years with a 100 basis points step-up; and

£723,925,000 undated deeply subordinated resettable notes with an initial spread over mid-swap of 300 basis points, initial coupon set at 5.453% per annum until the first call date in 2026 and thereafter reset every 12 years with a 100 basis points step-up. 

Settlement of each series of new notes is expected to occur on November 7, 2014.

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