Link Multiple

In brief

Advantages

• A guarantee of your personal contribution in euros
  You are guaranteed¹ that at maturity or in the event of early release you will recover 100% of your personal contribution in euros.
• A guaranteed minimum return of 2 % per year on your personal contribution in euros
  Regardless of any fluctuations in the ENGIE share price, you are guaranteed to benefit from a minimum return of 2% per year on your personal contribution in euros.
• Or a return higher than the minimum guaranteed return if changes in the ENGIE share price are favourable
  If changes in the ENGIE share price against the reference price are favourable, you will receive a profit equal to 15 times the protected average increase of the ENGIE share price².

This profit will be paid instead of the minimum return of 2% per year if it turns out to be higher. 

How does it work?

•  At the start of the transaction, depending on the amount of your personal contribution and the bank supplement multiplying the personal contribution by 10, a number of FCPE units will be allocated to you based on the subscription price.

• As from the date of completion of the transaction (22 December 2022), the ENGIE share price will be recorded once a month on the 15th day of the relevant month (and if this day is not a trading day, on the first trading day preceding this date) until the end of the five-year lock-in period, i.e. 60 readings. These 60 readings are used to determine an average ENGIE share price over the five-year period.

• If some of these 60 readings are below the reference price, then these readings will not be taken into account and will be replaced by the reference price for calculation of the average. This average is therefore called “protected”.

• This average will then be compared to the reference price to obtain the protected average increase over the period.

• At the end of the 5-year lock-in period or in the event of early redemption, you will receive the greater of the following two amounts:

  (i) your personal contribution in euros + the protected average increase  x 16 x the number of units subscribed

  and

  (ii) your personal contribution in euros capitalised on the guaranteed minimum return of 2 % per year.

Do some investment simulations on the simulator

What does Link Multiple entail?

In return for the guarantee and the multiple, you waive:

• any potential dividends;
• the benefit of the 20% discount: in practice, the FCPE acquires ENGIE shares at a discounted price but your return on expiry of the lock-in period will be calculated from the reference price and not from the subscription price. You will not therefore benefit from the discount in the calculation of the potential performance of the share;
• the right to a portion of any potential increase in the ENGIE share price at maturity: performance is calculated on the basis of the protected average increase of the ENGIE share price recorded during the lock-in period and not on the share price at maturity.

Your investment is locked in for five years, i.e. until 22/12/2027, except in the event of early release.

If you are located in a country outside the eurozone, the value of your investment also depends on the fluctuation of the foreign currency exchange rates and may go up or down.

What happens to my investment at the end of the lock-in period?

By investing in Link Multiple, you hold units in the Link Multiple Int 2022 sub-fund of the Link International FCPE. At the end of the five-year lock-in period, you will no longer benefit from the guarantee as described above. You will be contacted no later than two (2) months before the maturity date and asked to make a choice between:

• redemption of your holdings;
• reinvestment of your holdings in the Link Liberty sub-fund of the Link International FCPE. Your reinvested holdings will no longer benefit from the Link Multiple guarantee.

If you do not respond, the Link Multiple 2022 sub-fund will be merged with the Link Liberty sub-fund of the Link International FCPE subject to the prior approval of the Supervisory Board. You will then no longer benefit from the capital guarantee afforded by the Link Multiple option.

¹ Except in certain exceptional cases as described in the Link 2022 Terms and Conditions of Participation.
² In the event of an exceptional dividend or bonus dividend , employees can benefit from the bonus dividend through the performance improvement.