BNP Paribas : Communique

FINAL TERMS

PROHIBITION OF SALES TO EEA 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 (the "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 Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended, the "Insurance Distribution Directive"), 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. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, 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 UK 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 ("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");

1. a customer within the meaning of the provisions of the Financial Services and Markets Act 2000, as amended (the "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 Article 2 of Regulation (EU) 2017/1129 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.

MiFID II product governance / target market assessment - Solely for the purposes of each manufacturer's product approval process, the target market assessment in respect of the Notes, taking into account the five categories in item 18 of the Guidelines published by ESMA on 5 February 2018, has led to the conclusion that: (i) the target market for the Notes is eligible counterparties and professional clients, each as defined in MiFID II; and (ii) all channels for distribution of the Notes 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 / target market assessment - Solely for the purposes of the manufacturer's product approval process, the target market assessment in respect of the Notes, taking into account the five categories referred to in item 18 of the Guidelines published by ESMA on 5 February 2018 (in accordance with the FCA's policy statement entitled "Brexit our approach to EU non- legislative materials"), 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 domestic law by virtue of the EUWA ("UK MiFIR"); and (ii) all channels for distribution of the Notes are appropriate. Any person subsequently offering, selling or recommending the Notes (a "distributor") should take into consideration the manufacturer's 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 manufacturer's target market assessment) and determining appropriate distribution channels.

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Final Terms dated 23 May 2022

BNP PARIBAS

(incorporated in France)

(the Issuer)

Legal entity identifier (LEI): R0MUWSFPU8MPRO8K5P83

Issue of EUR 1,500,000,000 Fixed to Floating Rate Senior Non Preferred Notes due July 2028

ISIN Code: FR001400AKP6 under the €90,000,000,000

Euro Medium Term Note Programme

(the Programme)

Any person making or intending to make an offer of the Notes may only do so in circumstances in which no obligation arises for the Issuer or any Dealer to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or to supplement a prospectus pursuant to Article 23 of the Prospectus Regulation, in each case, in relation to such offer.

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PART A - CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the "Conditions") set forth under the section entitled "Terms and Conditions of the French Law Notes" in the Base Prospectus dated 2 July 2021 which received approval n° 21-273 from the Autorité des marchés financiers ("AMF") on 2 July 2021 and each supplement to the Base Prospectus published and approved on or before the date of these Final Terms (copies of which are available as described below) (the "Supplements") (provided that to the extent any such Supplement (i) is published and approved after the date of these Final Terms and (ii) provides for any change to the Conditions of the Notes such changes shall have no effect with respect to the Conditions of the Notes to which these Final Terms relate) which together constitute a base prospectus for the purposes of Regulation (EU) 2017/1129 (as amended, the "Prospectus Regulation") (the "Base Prospectus"). This document constitutes the Final Terms of the Notes described herein for the purposes of the Prospectus Regulation, and must be read in conjunction with the Base Prospectus to obtain all relevant information.

The Base Prospectus and any Supplement(s) to the Base Prospectus are available for viewing

athttps://invest.bnpparibas/en/andhttps://rates- globalmarkets.bnpparibas.com/gm/Public/LegalDocs.aspxand, with respect to these Final Terms, on the AMF website(www.amf-france.org)and copies may be obtained free of charge at the specified office of the Principal Paying Agent.

1.	Issuer:		BNP Paribas
2.	(i)	Trade Date:	18 May 2022
	(ii)	Series Number:	19775
	(iii)	Tranche Number:	1
3.	Specified Currency:	Euro ("EUR")

4. Aggregate Nominal Amount:

	(i)	Series:	EUR 1,500,000,000
	(ii)	Tranche:	EUR 1,500,000,000
5.	Issue Price of Tranche:	99.744 per cent. of the Aggregate Nominal Amount
6.	Minimum Trading Size:	Not applicable
7.	(i)	Specified Denomination:	EUR 100,000
	(ii)	Calculation Amount:	EUR 100,000
8.	(i)	Issue Date:	25 May 2022
	(ii)	Interest Commencement	Issue Date
		Date:
9.	(i)	Maturity Date:	Interest Payment Date falling on or nearest to 25 July
			2028
	(ii)	Business Day Convention	Modified Following
		for Maturity Date:
10.	Form of Notes:	Bearer
11.	Interest Basis:	2.750 per cent. per annum Fixed Rate from and
			including the Interest Commencement Date to but
			excluding the Optional Redemption Date (as defined
			below).

3 month EURIBOR + 1.37 per cent. Floating Rate from and including the Optional Redemption Date to but excluding the Maturity Date.

(further particulars specified below)

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1. Coupon Switch:
2. Redemption/Payment Basis:
3. Change of Interest Basis or Redemption/Payment Basis:
4. Put/Call Options:
5. Exchange Rate:
6. Status of the Notes:
7. Knock-inEvent:
8. Knock-outEvent:
9. Method of distribution:
10. Hybrid Notes:
11. Tax Gross-Up:

Not applicable Redemption at par

The initial Interest Basis shall be Fixed Rate until the Optional Redemption Date.

The Interest Basis subsequent to the Optional Redemption Date shall be Floating Rate.

(further particulars specified below)

Issuer Call (further particulars specified below) Not applicable

Senior Non Preferred Notes

MREL/TLAC Criteria Event: Not applicable Not applicable

Not applicable Syndicated Not applicable

Condition 6(e) (No Gross-Up) of the Terms and Conditions of the French Law Notes not applicable

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

23.

Interest:

Applicable

1. Interest Period(s):
2. Interest Period End Date(s):
3. Business Day Convention for Interest Period End Date(s):

As per Conditions

25 July in each year from and including 25 July 2022 to and including the Optional Redemption Date, then 25 October 2027, 25 January 2028, 25 April 2028 and 25 July 2028

Not applicable (with respect to the Fixed Rate Interest Period)

Modified Following (with respect to the Floating Rate Interest Period)

1. Interest Payment Date(s):
2. Business Day Convention for Interest Payment Date(s):
3. Party responsible for calculating the Rate(s) of Interest and Interest Amount(s):

25 July in each year from and including 25 July 2022 to and including the Optional Redemption Date, then 25 October 2027, 25 January 2028, 25 April 2028 and 25 July 2028

Following (with respect to the Fixed Rate Interest Period)

Modified Following (with respect to the Floating Rate Interest Period)

Calculation Agent

(vii)	Margin(s):	+ 1.37 per cent. per annum (applicable to the Floating
		Rate Interest Period)
(viii)	Minimum Interest Rate:	As per Conditions
(ix)	Maximum Interest Rate:	Not applicable

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1. 1. Day Count Fraction:
   2. Determination Dates:
   3. Accrual to Redemption:
   4. Rate of Interest:
   5. Coupon Rate:
2. Fixed Rate Provisions:
3. 1. Fixed Rate of Interest:
   2. Fixed Coupon Amount(s):
   3. Broken Amount(s):
4. Resettable Notes:
5. Floating Rate Provisions:
6. 1. Manner in which the Rate of Interest and Interest Amount is to be determined:
   2. Linear Interpolation:
7. Screen Rate Determination:
8. 1. Reference Rate:
   2. Interest Determination Date(s):
   3. Specified Time:
   4. Relevant Screen Page:
9. ISDA Determination:
10. FBF Determination:
11. Zero Coupon Provisions:
12. Index Linked Interest Provisions:
13. Share Linked/ETI Share Linked Interest Provisions:
14. Inflation Linked Interest Provisions:
15. Commodity Linked Interest Provisions:
16. Fund Linked Interest Provisions:
17. ETI Linked Interest Provisions:

Actual/Actual ICMA unadjusted (applicable to the Fixed Rate Interest Period)

Actual/360 (applicable to the Floating Rate Interest Period)

25 July in each year for the Fixed Rate Interest Period only

Applicable

Fixed Rate to Floating Rate Not applicable

Applicable from and including the Interest Commencement Date to but excluding the Optional Redemption Date (the "Fixed Rate Interest Period")

2.750 per cent. per annum payable annually in arrear on each Interest Payment Date during the Fixed Rate Interest Period

EUR 2,750.00 per Calculation Amount

EUR 459.59 per Calculation Amount, payable on the Interest Payment Date falling on 25 July 2022

Not applicable

Applicable from and including the Optional Redemption Date to but excluding the Maturity Date (the "Floating Rate Interest Period")

Screen Rate Determination

Not applicable Applicable - IBOR

3 month EURIBOR

Second TARGET2 Business Day prior to the start of each Floating Rate Interest Period

11:00 am, Brussels time Bloomberg EUR003M Not applicable

Not applicable Not applicable Not applicable Not applicable

Not applicable

Not applicable

Not applicable

Not applicable

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