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 3% per year capitalised on your personal contribution in euros
  Whatever the fluctuations in the ENGIE share price, you are guaranteed to enjoy a minimum capitalised return of 3% 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 24 times the protected average increase of the ENGIE share price².

This profit will be paid instead of the minimum return of 3% 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 in euros, a number of FCPE shares will be allocated to you based on the subscription price of a share.

• As of the date of completion of the transaction (scheduled for 7 November 2024), the ENGIE share price will be recorded once a month on the 25th calendar day of the relevant month (and if this day is not a trading day or a business day in France, on the first trading day following this date) until the end of the five-year lock-in period, i.e., 60 readings. These 60 recorded share prices 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, 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 considered to be “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 release, you will receive the greater of the following two amounts³:

  (i) your personal contribution in euros + 24 times the protected average increase x the number of shares subscribed

  and

  (ii) your personal contribution capitalised by the minimum guaranteed return of 3% 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 dividends⁴;
• the benefit of the 20 % discount: your return at the end of the investment will be calculated from the reference price and not from the subscription price (reference price minus the 20% discount). 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 the end of the investment: performance is calculated on the basis of the protected average increase of the ENGIE share price recorded during the lock-in period rather than on the basis of the share price at the end of the investment.

Your investment is locked in for five years, i.e. until 6 November 2029 inclusive, except in the event of early release.
The value of your investment will also depend on the fluctuation in the exchange rates between the euro and your currency 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 will hold shares in the “Link Multiple INT 2024” sub-fund of the LINK INTERNATIONAL FCPE. At the end of the five-year lock-in period, the “LINK MULTIPLE INT 2024” 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 be contacted no later than two (2) months before the maturity date and asked to make a choice between:

• redemption of your holdings, which will be converted into your currency based on the applicable exchange rate at that time, and;
• reinvestment of your holdings in the “LINK LIBERTY” sub-fund of the LINK INTERNATIONAL FCPE.

If you do not respond, your holdings will continue to be held in the Link Multiple Int 2024 sub-fund until its merger with the “LINK LIBERTY” sub-fund of the LINK INTERNATIONAL FCPE.

N.B.: if you reinvest your holdings in the “LINK LIBERTY” sub-fund of the LINK INTERNATIONAL FCPE, you will no longer benefit from the capital guarantee afforded by the Link Multiple option as of the date of reinvestment.

¹ Except in certain exceptional cases, as described in the Link 2024 Terms and Conditions of Participation.
²N.B.: in the event of a bonus dividend generated by the “LINK MULTIPLE INT 2024” sub-fund, you will benefit from a performance improvement at the end of the investment.

³ Before taxes and social charges.
⁴However, in the event of a bonus dividend generated by the “LINK MULTIPLE INT 2024” sub-fund, you will benefit from a performance improvement at the end of the investment in the form of the bonus dividend.