corporate · EUR
The current coupon is the rate for the current period according to available data. The benchmark and margin formula comes from issue documents; it does not confirm the current fixing or a conditional margin.
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Interest is contractually payable annually on 7 July, from 2027 until maturity. If the date is not a Payment Day, the prospectus provides for deferred payment without additional interest solely for that deferral.
(b) Interest Payment Date(s): 7 July in each year up to and including the Maturity Date
If the date for payment of any amount in respect of any Note, Receipt or Coupon is not a Payment
The key terms from the issue documents, explained in plain language.
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The currency is EUR. The minimum permitted denomination is EUR 100,000, with higher denominations increasing in integral multiples of EUR 1,000; the EUR 1,000 calculation amount is not a standalone note denomination.
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relevant place and shall not be entitled to further interest or other payment in respect of such delay.
Offering Circular dated 26 June 2026, which constitutes a base prospectus
An issuer call option is selected for 7 April 2033 at EUR 1,000 per EUR 1,000 calculation amount, with 15–30 days' notice. The separate residual call option is conditional: once the outstanding series amount falls to no more than 20% of the original issue, all remaining notes may be redeemed at par plus accrued interest, with 30–60 days' notice. The documents do not establish that either option has been exercised.
Exercise of the option and fulfilment of its conditions require separate confirmation.
18. Issuer Call: Applicable
(d) Notice periods: Minimum period: 15 days
If Issuer Residual Call is specified as being applicable in the applicable Final Terms and, at any time,
the outstanding aggregate nominal amount of the Notes is 20 per cent. or less of the aggregate nominal
Note is a Floating Rate Note), on giving not less than 30 and not more than 60 days" notice to the
Offering Circular dated 26 June 2026, which constitutes a base prospectus
Under the applicable prospectus, these are unsecured, unsubordinated obligations of the issuer, generally ranking equally with other unsecured obligations, subject to exceptions under law. The reviewed documents do not establish a separate guarantor.
The Notes and any related Receipts and Coupons are direct, unconditional, unsubordinated and
among themselves and (save for certain obligations required to be preferred by law) equally with all
(subject to the provisions of Condition 4) unsecured obligations of the Issuer and rank pari passu
Offering Circular dated 26 June 2026, which constitutes a base prospectus
These are contractual terms. They do not confirm the current coupon, completed payments or the issuer’s financial position.
6. (a) Specified Denominations: EUR 100,000 and integral multiples of EUR 1,000 in excess
3. Specified Currency or Currencies: Euro
(b) Calculation Amount (in EUR 1,000
The contractual interest rate is fixed at 3.750% per annum. This is not the current market yield or evidence of interest payment.
(a) Rate(s) of Interest: 3.750 per cent. per annum payable in arrear on each Interest
Interest is contractually payable annually on 7 July, from 2027 until maturity. If the date is not a Payment Day, the prospectus provides for deferred payment without additional interest solely for that deferral.
(b) Interest Payment Date(s): 7 July in each year up to and including the Maturity Date
If the date for payment of any amount in respect of any Note, Receipt or Coupon is not a Payment
relevant place and shall not be entitled to further interest or other payment in respect of such delay.
Offering Circular dated 26 June 2026, which constitutes a base prospectus
Contractual maturity is 7 July 2033; principal is to be repaid at 100% of nominal value unless previously redeemed or cancelled under the terms.
8. Maturity Date: 7 July 2033
10. Redemption/Payment Basis: Subject to any purchase and cancellation or early
Unless previously redeemed or purchased and cancelled as specified below, each Note will be
Offering Circular dated 26 June 2026, which constitutes a base prospectus
An issuer call option is selected for 7 April 2033 at EUR 1,000 per EUR 1,000 calculation amount, with 15–30 days' notice. The separate residual call option is conditional: once the outstanding series amount falls to no more than 20% of the original issue, all remaining notes may be redeemed at par plus accrued interest, with 30–60 days' notice. The documents do not establish that either option has been exercised.
Exercise of the option and fulfilment of its conditions require separate confirmation.
18. Issuer Call: Applicable
(d) Notice periods: Minimum period: 15 days
If Issuer Residual Call is specified as being applicable in the applicable Final Terms and, at any time,
the outstanding aggregate nominal amount of the Notes is 20 per cent. or less of the aggregate nominal
Note is a Floating Rate Note), on giving not less than 30 and not more than 60 days" notice to the
Offering Circular dated 26 June 2026, which constitutes a base prospectus
The ordinary Investor Put is marked as not applicable. A conditional Change of Control Put is selected instead: the right depends on a change of control event and rating conditions, and the price may be 101% or 100% of nominal value depending on the conditions, plus accrued interest.
Whether a qualifying change of control has occurred or which price would apply has not been established.
19. Investor Put: Not Applicable
20. Change of Control Put: Applicable
If Change of Control Put is specified as being applicable in the applicable Final Terms, upon the
Under the applicable prospectus, these are unsecured, unsubordinated obligations of the issuer, generally ranking equally with other unsecured obligations, subject to exceptions under law. The reviewed documents do not establish a separate guarantor.
The Notes and any related Receipts and Coupons are direct, unconditional, unsubordinated and
among themselves and (save for certain obligations required to be preferred by law) equally with all
(subject to the provisions of Condition 4) unsecured obligations of the Issuer and rank pari passu
The prospectus defines Events of Default, including non-payment of principal or interest after the applicable periods and other specified triggers; acceleration requires the contractual procedure to be followed.
No breach or acceleration has been established.
respect of the Notes or any of them and the default continues for a period of sevendays in the
case of principal and14 days in the case ofinterest; or
then any holder of a Note may, by written notice to the Issuer at the specified office of the Principal
The issuer of legal series E (ISIN XS3430816002) is ORLEN S.A. The Final Terms expressly incorporate the programme terms dated 26 June 2026.
1. Issuer ORLEN S.A.
2. (a) Series Number: E
(ii) ISIN: XS3430816002
The Final Terms state an intention to finance or refinance eligible green projects. The prospectus describes an intention to allocate an amount equivalent to the proceeds; it does not establish actual allocation or compliance with the external Green Finance Framework's criteria.
The external framework's detailed criteria and completed allocation have not been confirmed here.
(i) Reasons for the offer: To finance or refinance, in whole or in part, Eligible Projects
that such Notes are intended to be issued as Green Bonds, the allocation of an amount equal to the net proceeds
from such issue of Notes will be to finance and/or refinance, in whole or in part, the Eligible Projects in
Offering Circular dated 26 June 2026, which constitutes a base prospectus
The prospectus contains a negative pledge relating to specified debt and security interests, with definitions and exceptions. This answer describes a contractual term, not the issuer's current compliance.
The full scope of the exceptions is set out in Condition 4.2; current compliance has not been checked.
So long as any of the Notes remains outstanding, the Issuer will not, and will ensure that none of its
Interest equally and rateably with the Relevant Indebtedness; or
Offering Circular dated 26 June 2026, which constitutes a base prospectus
The Final Terms prohibit offering, selling or otherwise making the notes available to retail investors in the EEA and set a minimum denomination of EUR 100,000. The separate redemption for tax reasons is conditional and is not an unrestricted investor right.
Whether a tax trigger for early redemption has arisen has not been assessed.
PROHIBITION OF SALES TO EEA RETAIL INVESTORS – The Notes are not intended to be offered,
6. (a) Specified Denominations: EUR 100,000 and integral multiples of EUR 1,000 in excess
(a) on the occasion of the next payment due under the Notes, the Issuer has or will become obliged
These are contractual terms. They do not confirm the current coupon, completed payments or the issuer’s financial position.
(i) 101 per cent. of its principal amount together with (or, where purchased, together with an
(ii) their principal amount, together with interest accrued up to, but excluding, the Change of
Offering Circular dated 26 June 2026, which constitutes a base prospectus
Offering Circular dated 26 June 2026, which constitutes a base prospectus
Offering Circular dated 26 June 2026, which constitutes a base prospectus
Offering Circular dated 26 June 2026, which constitutes a base prospectus