2007 REGISTRATION DOCUMENT

CONSOLIDATED FINANCIAL STATEMENTS5Notes to the financial s tatements p repared in accordance with I nternational Financial Reporting S tandards as adopted by the European Union< Contents >Issuer Date of issue Currency Amount Rate and term before 1st call dateBNPP Capital Trust October 2000 USD 500 millions 9.003% 10 yearsBNPP Capital Trust III October 2001 EUR 500 millions 6.625% 10 yearsBNPP Capital Trust IV January 2002 EUR 660 millions 6.342% 10 yearsBNPP Capital Trust VI January 2003 EUR 700 millions 5.868% 10 yearsCofi noga Funding I LP March 2003 EUR 100 millions (1) 6.820% 10 yearsJanuary and MayTEC 10 (2)Cofi noga Funding II LP2004 EUR 80 millions (1) + 1.35% 10 years(1)Before application of the proportionate consolidation rate.(2)TEC 10 is the daily long-term government bond index, corresponding to the yield to maturity of a ficticious 10-year Treasury note.Rate after1st call date3-month Libor+ 3.26%3-month Euribor+ 2.6%3-month Euribor+ 2.33%3-month Euribor+ 2.48%3-month Euribor+ 3.75%TEC 10 (2)+ 1.35%123The proceeds of these issues are recorded under “Minority interests”in the balance sheet, and the dividends are reported under “Minorityinterests” in the profit and loss account.Undated Super Subordinated Notes (preferredshare equivalents) issued by BNP Paribas SAIn June 2005, BNP Paribas SA carried out an issue of Undated SuperSubordinated Notes representing USD 1,350 million. The notes pay asemi-annual fixed rate coupon. They are redeemable at the end of a10-year period and thereafter at each coupon date. If the notes are notredeemed in 2015, they will pay a quarterly Libor-indexed coupon.In October 2005, BNP Paribas SA carried out two issues of Undated SuperSubordinated Notes representing EUR 1,000 million and USD 400 millionrespectively. The notes in both issues pay an annual fixed rate coupon.They are redeemable at the end of a 6-year period and thereafter ateach coupon date. If the notes are not redeemed in October 2011, theywill continue to pay the fixed-rate coupon.In April 2006, BNP Paribas SA carried out two issues of Undated SuperSubordinated Notes representing EUR 750 million and GBP 450 millionrespectively. The notes in both issues pay an annual fixed rate coupon.They are redeemable at the end of a 10-year period and thereafter ateach coupon date. If the notes are not redeemed in 2016, they will paya quarterly Euribor-indexed coupon in the case of the first issue, and aLibor-indexed coupon in the case of the second issue.In July 2006, BNP Paribas SA carried out two issues of UndatedSuper Subordinated Notes. The notes in the first issue – representingEUR 150 million – pay an annual fixed rate coupon. These eurodenominatednotes are redeemable at the end of a 20-year period andthereafter at each coupon date. If the notes are not redeemed in 2026,they will pay a quarterly Euribor-indexed coupon. The notes in the secondissue – representing GBP 325 million – pay an annual fixed rate coupon.These sterling-denominated notes are redeemable at the end of a 10-yearperiod and thereafter at each coupon date. If the notes are not redeemedin 2016, they will pay a quarterly Libor-indexed coupon.In April 2007, BNP Paribas SA carried out an issue of Undated SuperSubordinated Notes representing EUR 750 million. The notes pay anannual fixed rate coupon. They are redeemable at the end of a 10-yearperiod and thereafter at each coupon date. If the notes are not redeemedin 2017, they will pay a quarterly Euribor-indexed coupon.In June 2007, BNP Paribas SA carried out two issues of Undated SuperSubordinated Notes. The notes in the first issue – representing USD600 million – pay a quarterly fixed rate coupon and are redeemable atthe end of a 5-year period. The notes in the second issue - representingUSD 1,100 million – pay a semi-annual fixed rate coupon. They areredeemable at the end of a 30-year period and thereafter at each coupondate. If the notes are not redeemed in 2037, they will pay a quarterlyLibor-indexed coupon.In October 2007, BNP Paribas SA carried out an issue of Undated SuperSubordinated Notes representing GBP 200 million. The notes pay anannual fixed rate coupon. They are redeemable at the end of a 10-yearperiod and thereafter at each coupon date. If the notes are not redeemedin 2017, they will pay a quarterly Libor-indexed coupon.BNP Paribas has the option of not paying interest due on these UndatedSuper Subordinated Notes if no dividends were paid on BNP Paribas SAordinary shares or on preferred shares in the previous year. Unpaidinterest is not carried forward.The contracts relating to these Undated Super Subordinated Notescontain a loss absorption clause. Under the terms of this clause, in theevent of insufficient regulatory capital – which is not fully offset by acapital increase or any other equivalent measure – the nominal valueof the notes may be reduced in order to serve as a new basis for thecalculation of the related coupons until the capital deficiency is made upand the nominal value of the notes is increased to its original amount.However, in the event of the liquidation of BNP Paribas, the amount dueto the holders of these notes will represent their original nominal valueirrespective of whether or not their nominal value has been reduced.45678910112007 Registration document - BNP PARIBAS 179