SG ISSUER

AVVISO n.11360

29 Giugno 2015

MOT - DomesticMOT

Mittente del comunicato : BORSA ITALIANA

Societa' oggetto dell'Avviso

: SG ISSUER

Testo del comunicato

Oggetto : 'DomesticMOT' - Inizio negoziazioni 'SG ISSUER'

Si veda allegato.

Disposizioni della Borsa

Società emittente: SG ISSUER

Società garante: Société Générale S.A.

Titoli: "Issue of RUB 1 750 000 000 Notes due 27/04/2018" (Codice ISIN XS1202764335)

"Issue of INR 1 750 000 000 Notes due 27/04/2017" (Codice ISIN XS1202764681)

"Issue of TRY 90 000 000 Notes due 27/04/2017" (Codice ISIN XS1202763360)

Società di Rating	Long Term	Data Report
Moody's	A2	21/06/2012
Standard & Poor's	A	23/01/2012
Fitch Ratings	A	17/07/2013

Rating Emittente:

SG ISSUER

Oggetto: INIZIO DELLE NEGOZIAZIONI IN BORSA

Data inizio negoziazioni: 30/06/2015

Mercato di negoziazione: Borsa - Mercato telematico delle obbligazioni (MOT),

segmento DomesticMOT, 'classe altri titoli di debito'

EMS: - 1.050.000 relativamente al titolo "Issue of RUB 1 750 000 000 Notes due 27/04/2018" (XS1202764335);

- 2.100.000 relativamente al titolo "Issue of INR 1 750 000 000 Notes due 27/04/2017" (XS1202764681);

- 70.000 relativamente al titolo "Issue of TRY 90 000 000 Notes due 27/04/2017" (XS1202763360).

Operatore specialista: Société Générale S.A. (codice operatore IT0667)

CARATTERISTICHE SALIENTI DEI TITOLI OGGETTO DI QUOTAZIONE

"Issue of RUB 1 750 000 000 Notes due 27/04/2018"

Modalità di negoziazione: corso secco

N. obbligazioni in circolazione: 25.000

Valore nominale unitario: 70.000 RUB Valore nominale complessivo

delle obbligazioni in circolazione: 1.750.000.000 RUB

Interessi: le obbligazioni frutteranno interessi annui lordi pari al 10,50% del valore nominale del prestito, pagabili in via posticipata in conformità a quanto specificato nei Final Terms del prestito. Le cedole saranno corrisposte in EUR sulla base del fixing rilevato in base a quanto previsto nei Final Terms del prestito.

Modalità di calcolo dei ratei: ACT/ACT su base periodale

Godimento: 27/04/2015

Scadenza: 27/04/2018 (rimborso alla pari in un'unica soluzione alla scadenza. Il rimborso avverrà in EUR sulla base del fixing rilevato in base a quanto previsto nei Final Terms del prestito)

Tagli: unico da nominali 70.000 RUB

Codice ISIN: XS1202764335

Codice Instrument Id: 778529

Descrizione: SG ISSUER TF 10,5% AP18 RUB

Importo minimo di negoziazione: 70.000 RUB

Obblighi operatore specialista: - durata minima dell'impegno: fino a Scadenza

- quantitativo minimo di ciascuna proposta: 3.010.000 RUB

- quantitativo minimo giornaliero: 15.050.000 RUB

- scostamento xxxxxxx xxxxxx tra le proposte in acquisto ed in vendita: massimo 180 centesimi

"Issue of INR 1 750 000 000 Notes due 27/04/2017"

Modalità di negoziazione: corso secco

N. obbligazioni in circolazione: 25.000

Valore nominale unitario: 70.000 INR Valore nominale complessivo

delle obbligazioni in circolazione: 1.750.000.000 INR

Interessi: le obbligazioni frutteranno interessi annui lordi pari al 5,00% del valore nominale del prestito, pagabili in via posticipata in conformità a quanto specificato nei Final Terms del prestito. Le cedole saranno corrisposte in EUR sulla base del fixing rilevato in base a quanto previsto nei Final Terms del prestito.

Modalità di calcolo dei ratei: ACT/ACT su base periodale Godimento: 27/04/2015

Scadenza: 27/04/2017 (rimborso alla pari in un'unica soluzione alla scadenza. Il rimborso avverrà in EUR sulla base del fixing rilevato in base a quanto previsto nei Final Terms del prestito)

Tagli: unico da nominali 70.000 INR

Codice ISIN: XS1202764681

Codice Instrument Id: 778530

Descrizione: SG ISSUER TF 5% AP17 INR Importo minimo di negoziazione: 70.000 INR

Obblighi operatore specialista: - durata minima dell'impegno: fino a Scadenza

- quantitativo minimo di ciascuna proposta: 3.500.000 INR

- quantitativo minimo giornaliero: 17.500.000 INR

- scostamento xxxxxxx xxxxxx tra le proposte in acquisto ed in vendita: massimo 150 centesimi

"Issue of TRY 90 000 000 Notes due 27/04/2017"

Modalità di negoziazione: corso secco

N. obbligazioni in circolazione: 30.000

Valore nominale unitario: 3.000 TRY Valore nominale complessivo

delle obbligazioni in circolazione: 90.000.000 TRY

Interessi: le obbligazioni frutteranno interessi annui lordi pari all'8,50% del valore nominale del prestito, pagabili in via posticipata in conformità a quanto specificato nei Final Terms del prestito. Le cedole saranno corrisposte in EUR sulla base del fixing rilevato in base a quanto previsto nei Final Terms del prestito.

Modalità di calcolo dei ratei: ACT/ACT su base periodale Godimento: 27/04/2015

Scadenza: 27/04/2017 (rimborso alla pari in un'unica soluzione alla scadenza. Il rimborso avverrà in EUR sulla base del fixing rilevato in base a quanto previsto nei Final Terms del prestito)

Tagli: unico da nominali 3.000 TRY

Codice ISIN: XS1202763360

Codice Instrument Id: 778531

Descrizione: SG ISSUER TF 8,5% AP17 TRY Importo minimo di negoziazione: 3.000 TRY

Obblighi operatore specialista: - durata minima dell'impegno: fino a Scadenza

- quantitativo minimo di ciascuna proposta: 150.000 TRY

- quantitativo minimo giornaliero: 750.000 TRY

- scostamento xxxxxxx xxxxxx tra le proposte in acquisto ed in vendita: massimo 120 centesimi

DISPOSIZIONI DELLA BORSA ITALIANA

Dal giorno 30/06/2015 gli strumenti finanziari "Issue of RUB 1 750 000 000 Notes due 27/04/2018", "Issue of INR 1 750 000 000 Notes due 27/04/2017" e "Issue of TRY 90 000 000 Notes due 27/04/2017" verranno iscritti nel Listino Ufficiale, comparto obbligazionario (MOT).

Allegati:

- Final Terms dei prestiti obbligazionari.

Amended as of 23/06/2015 (The initial Date of these Final Terms was 23/04/2015, subsequently amended and restated on 16/06/2015)

SG Issuer

Issue of RUB 1 750 000 000 Notes due 27/04/2018 Unconditionally and irrevocably guaranteed by Société Générale under the

Debt Instruments Issuance Programme PART A – CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth under the heading "Terms and Conditions of the English Law Notes and the Uncertificated Notes" in the Base Prospectus dated 28 October 2014, which constitutes a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC) (the Prospectus Directive) as amended (which includes the amendment made by Directive 2010/73/EU (the 2010 PD Amending Directive) to the extent that such amendments have been implemented in a Member State). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and Article 8.4 of the loi luxembourgeoise relative aux prospectus pour valeurs mobilières as amended, and must be read in conjunction with the Base Prospectus and the supplement(s) to such Base Prospectus dated 06/11/2014 and 19/11/2014 and 18/12/2014 and 23/01/2015 and 26/02/2015 and 19/03/2015 and 09/06/2015 and any other supplement published prior to the Issue Date (as defined below) (the Supplement(s)); provided, however, that to the extent such Supplement (i) is published after these Final Terms have been signed or issued and (ii) provides for any change to the Conditions as set out under the heading “Terms and Conditions of the English Law Notes and the Uncertificated Notes” , such change shall have no effect with respect to the Conditions of the Notes to which these Final Terms relate. Full information on the Issuer, the Guarantor, if any, and the offer of the Notes is only available on the basis of the combination of these Final Terms, the Base Prospectus and any Supplement(s). Prior to acquiring an interest in the Notes described herein, prospective investors should read and understand the information provided in the Base Prospectus and any Supplement(s) and be aware of the restrictions applicable to the offer and sale of such Notes in the United States or to, or for the account or benefit of, U.S. Persons. In the case of Notes offered to the public or admitted to trading on a Regulated Market in the European Economic Area, a summary of the issue of the Notes (which comprises the summary in the Base Prospectus as amended to reflect the provisions of these Final Terms) is annexed to these Final Terms. Copies of the Base Prospectus, any Supplement(s) and these Final Terms are available for inspection from the head office of the Issuer, the Guarantor (if applicable), the specified offices of the Paying Agents and, in the case of Notes admitted to trading on the Regulated Market of the Luxembourg Stock Exchange, on the website of the Luxembourg Stock Exchange (xxx.xxxxxx.xx) and, in the case of Notes offered to the public or admitted to trading on a Regulated Market in the European Economic Area, on the website of the Issuer (xxxx://xxxxxxxxxx.xxxxxx.xxx).

1. (i) Series Number: 71973EN/15.4

(ii) Tranche Number: 1

(iii) Date on which the Notes

become fungible: Not Applicable

2. Specified Currency: RUB

3. Aggregate Nominal Amount:

(i) - Tranche: RUB 1 750 000 000

(ii) - Series: RUB 1 750 000 000

4. Issue Price: 100% of the Aggregate Nominal Amount

5. Specified Denomination: RUB 70 000

6. (i) Issue Date:

(DD/MM/YYYY) 27/04/2015

(ii) Interest Commencement Date:

(DD/MM/YYYY) 27/04/2015

7. Maturity Date:

(DD/MM/YYYY) 27/04/2018

8. Governing law: English law

9. (i) Status of the Notes: Unsecured

(ii) Date of corporate authorisation obtained for

the issuance of Notes: Not Applicable

(iii) Type of Structured Notes: Not Applicable

(iv) Reference of the Product: Not Applicable

10. Interest Basis: See section “PROVISIONS RELATING TO INTEREST

(IF ANY) PAYABLE” below.

11. Redemption/Payment Basis: See section “PROVISIONS RELATING TO

REDEMPTION” below.

12. Issuer’s/Noteholders’ redemption option:

See section “PROVISIONS RELATING TO REDEMPTION” below.

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

13. Fixed Rate Note Provisions: Applicable as per Condition 3.1 of the General Terms

and Conditions

(i) Rate(s) of Interest: 10.50% per annum payable annually in arrear

(ii) Specified Period(s) / Interest Payment Date(s):

(DD/MM/YYYY) 27/04/2016 ; 27/04/2017; 27/04/2018

(iii) Business Day Convention: Following Business Day Convention (unadjusted)

(iv) Fixed Coupon Amount: Unless previously redeemed, on each Interest Payment

Date, the Issuer shall pay to the Noteholders, for each Note, an amount determined by the Calculation Agent as follows:

Rate of Interest x Specified Denomination x Day Count Fraction

(v) Day Count Fraction: Actual/Actual (ICMA)

(vi) Broken Amount(s): In case of a long or short Interest Period (with regard to

paragraph 13(ii) “Specified Period(s)/Interest Payment Date(s)" above), the amount of interest will be calculated in accordance with the formula specified in paragraph 13(iv) “Fixed Coupon Amount” above.

(vii) Determination Date(s): 27 April in each year

14. Floating Rate Note

Provisions: Not Applicable

15. Structured Interest Note Not Applicable

Provisions:

16. Zero Coupon Note

Provisions: Not Applicable

PROVISIONS RELATING TO REDEMPTION

17. Redemption at the option of

the Issuer: Not Applicable

18. Redemption at the option of

the Noteholders: Not Applicable

19. Automatic Early Redemption: Not Applicable

20. Final Redemption Amount: Unless previously redeemed, the Issuer shall redeem

the Notes on the Maturity Date, in accordance with the following provisions in respect of each Note:

Final Redemption Amount = Specified Denomination x 100%

21. Physical Delivery Note

Provisions: Not Applicable

22. Credit Linked Notes

Provisions: Not Applicable

23. Bond Linked Notes Provisions: Not Applicable

24. Trigger redemption at the

option of the Issuer: Not Applicable

25. Early Redemption Amount payable on Event of Default or, at the option of the Issuer, on redemption for taxation or

regulatory reasons: 100% of Specified Denomination per Note

PROVISIONS APPLICABLE TO THE UNDERLYING(S) IF ANY

26.

(i)

Underlying(s):

Not Applicable

(ii)

Information relating to the past and future performances of the Underlying(s) and volatility:

Not Applicable

(iii)

Provisions relating, amongst others, to the Market Disruption Event(s) and/or

Extraordinary Event(s) and/or Monetisation until the Maturity

Date and/or any additional disruption event(s) as described in the relevant Additional Terms and Conditions for Structured Notes:

Not Applicable

(iv) Other information relating to the Underlying(s):

Not Applicable

DEFINITIONS APPLICABLE TO INTEREST (IF ANY), REDEMPTION AND THE UNDERLYING(S) IF ANY

27.	(i)	Definitions relating to date(s):	Not Applicable
	(ii)	Definitions relating to the Product:	Not Applicable

PROVISIONS RELATING TO SECURED NOTES

28. Secured Notes Provisions: Not Applicable

GENERAL PROVISIONS APPLICABLE TO THE NOTES

29.		Provisions applicable to payment date(s): - Payment Business Day:	Following Payment Business Day
		- Financial Centre(s):	TARGET2
30.		Form of the Notes:
	(i)	Form:	Non-US Registered Global Note registered in the name of a nominee for a common depositary for Euroclear and Clearstream, Luxembourg
	(ii)	New Global Note (NGN – bearer notes) / New Safekeeping Structure (NSS – registered notes):	No
31.		Redenomination:	Not Applicable
32.		Consolidation:	Applicable as per Condition 14.2 of the General Terms and Conditions
33.		Partly Paid Notes Provisions:	Not Applicable
34.		Instalment Notes Provisions:	Not Applicable
35.		Masse:	Not Applicable
36.		Dual Currency Note Provisions:	Applicable as per Condition 4.14 of General Terms and Conditions
	(i)	Settlement Currency	EUR
	(ii)	Dual Currency Exchange Rate	EUR/RUB, is obtained by crossing EUR/USD and USD/RUB The Notes are denominated in RUB but all the payments in respect of the Notes shall be made in EUR
	(iii)	Method of calculating the fixing of Dual Currency Exchange Rate	Screen Rate Determination
		- Dual Currency Valuation Date:	In respect of the Issue Date: Valuation Date(0) is 3 Business Days before Issue Date
			In respect of each Interest Payment Date(i) (i from 1 to 3): Valuation Date(i)

In respect of the Maturity Date: Valuation Date(3)

Valuation Date(i) (i from 1 to 3) is 3 Business Days before the relevant Interest Payment Date(i) (i from 1 to 3)

- Dual Currency Valuation Time: EUR/USD at 14:15 Frankfurt time

USD/RUB at or around 1:00 p.m. Moscow time

- Relevant Screen Page: EUR/USD published on Reuters page ECB37

USD/RUB published on Reuters page EMTA

37. Additional Amount Provisions for

Italian Certificates: Not Applicable

38. Interest Amount and/or the Redemption Amount switch at the

option of the Issuer: Not Applicable

PART B – OTHER INFORMATION

1. LISTING AND ADMISSION TO TRADING

(i) Listing: Application will be made for the Notes to be listed on “DomesticMOT”, a regulated market organized and managed by Borsa Italiana S.p.A.

(ii) Admission to trading: Application will be made for the Notes to be admitted to

trading on “DomesticMOT”, a regulated market organized and managed by Borsa Italiana S.p.A.” with effect from or as soon as practicable after the Issue Date.

There can be no assurance that the listing and trading of the Notes will be approved with effect on the Issue Date or at all.

(iii) Estimate of total expenses related to admission to

trading: Not Applicable

(iv) Information required for Notes to be listed on SIX

Swiss Exchange: Not Applicable

2. RATINGS

The Notes to be issued have not been rated.

3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER

Save for fees, if any, payable to the Dealer, and so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer.

The Issuer and Société Générale expect to enter into hedging transactions in order to hedge the Issuer's obligations under the Notes. Should any conflicts of interest arise between (i) the responsibilities of Société Générale as Calculation Agent for the Notes and

(ii) the responsibilities of Société Générale as counterparty to the above mentioned hedging transactions, the Issuer and Société Générale hereby represent that such conflicts of interest will be resolved in a manner which respects the interests of the Noteholders.

4. REASONS FOR THE OFFER AND USE OF PROCEEDS, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

(i) Reasons for the offer and use of proceeds:

The net proceeds from each issue of Notes will be applied for the general financing purposes of the Société Générale Group, which include making a profit.

(ii) Estimated net proceeds: Not Applicable

(iii) Estimated total expenses: Not Applicable

5. INDICATION OF YIELD (Fixed Rate Notes only)

Yield : 10.4896%

6. HISTORIC INTEREST RATES (Floating Rate Notes only)

Not Applicable

7. PERFORMANCE AND EFFECT ON VALUE OF INVESTMENT

(i) PERFORMANCE OF FORMULA, EXPLANATION OF EFFECT ON VALUE OF INVESTMENT (Structured Notes only)

Investment in Notes including fixed interest rate involves risks linked to the fluctuation of the market rates which could have negative effect on the value of these Notes.

During the lifetime of the Notes, the market value of these Notes may be lower than the invested capital.

Furthermore, an insolvency of the Issuer and/or the Guarantor may cause a total loss of the invested capital.

The attention of the investors is drawn to the fact that they could sustain an entire or a partial loss of their investment.

(ii) PERFORMANCE OF RATE[S] OF EXCHANGE AND EXPLANATION OF EFFECT ON VALUE OF INVESTMENT (Dual Currency Notes only)

The Notes being Dual Currency Notes, the amount of principal and/or interest payable are dependent upon movements in currency exchange rates or are payable in one or more currencies which may be different from the currency in which the Notes are denominated. Accordingly an investment in Dual Currency Notes may bear similar market risks to a direct foreign exchange investment and potential investors should take advice accordingly.

Potential investors in any such Notes should be aware that, depending on the terms of the Dual Currency Notes, (i) they may receive no or a limited amount of interest, (ii) payment of principal or interest may occur at a different time or in a different currency than expected and (iii) they may lose a substantial portion of their investment. In addition, movements in currency exchange rates may be subject to significant fluctuations that may or may not correlate with changes in interest rates or other indices and the timing of changes in the exchange rates may affect the actual yield to investors, even if the average level is consistent with their expectations.

The attention of the investors is drawn to the fact that they could sustain an entire or a partial loss of their investment.

8. OPERATIONAL INFORMATION

(i) Security identification code(s):

- ISIN Code: XS1202764335

- Common Code: 120276433

(ii) Clearing System(s): Euroclear Bank S.A/N.V. (Euroclear) / Clearstream

Banking société anonyme (Clearstream, Luxembourg) and Monte Titoli S.p.A (Monte Titoli)

	(iii)	Delivery:	Delivery against payment
	(iv)	Calculation Agent:	Société Générale
			Tour Société Générale
			17 Cours Valmy
			00000 Xxxxx Xx Xxxxxxx Xxxxx
			Xxxxxx
	(v)	Paying Agent(s):	Société Générale Bank&Trust
			00, xxxxxx Xxxxx Xxxxxx
			0000 Xxxxxxxxxx
			Xxxxxxxxxx
			And
			Société Générale Securities Services S.p.A.
			Xxx Xxxxxxx Xxxxxx, 00/x
			00000 Xxxxxx
			Xxxxx
	(xx)	Eurosystem eligibility of the
		Notes:	No
	(vii)	Address and contact details of Société Générale for all administrative communications relating to the Notes:	Société Générale Tour Société Générale 00 Xxxxx Xxxxx 00000 Xxxxx Xx Xxxxxxx Xxxxx Xxxxxx
			Name: Sales Support Services - Derivatives
			Tel: x00 0 00 00 00 00 (Hotline)
			Email: xxxxxxxxxxxxx-xxxx@xxxxx.xxx
9.		DISTRIBUTION

(i) Method of distribution: Non-syndicated

- Dealer(s): Société Générale Tour Société Générale 17 Cours Valmy

00000 Xxxxx Xx Xxxxxxx Xxxxx Xxxxxx

(ii) Total commission and concession:

There is no commission and/or concession paid by the Issuer to the Dealer or the Managers.

(iii) TEFRA rules: Not Applicable

(iv) Permanently Restricted

Notes: Yes

(v) Non-exempt Offer: Not Applicable

10. PUBLIC OFFERS IN EUROPEAN ECONOMIC AREA

Not Applicable

11. ADDITIONAL INFORMATION

- Minimum Investment in the

Notes: RUB 70 000 (i.e. 1 Note)

- Minimum Trading: RUB 70 000 (i.e. 1 Note)

12. PUBLIC OFFERS IN OR FROM SWITZERLAND

Not Applicable

ISSUE SPECIFIC SUMMARY

Section A – Introduction and warnings

A.1

Warning

This summary must be read as an introduction to the Base Prospectus.

Any decision to invest in the Notes should be based on a consideration of the Base Prospectus.

Where a claim relating to the information contained in the Base Prospectus is brought before a court, the plaintiff investor might, under the national legislation of the Member States, have to bear the costs of translating the Base Prospectus before the legal proceedings are initiated.

Civil liability attaches only to those persons who have tabled this summary, including any translation thereof, but only if the summary is misleading, inaccurate or inconsistent when read together with the other parts of the Base Prospectus or it does not provide, when read together with the other parts of this Base Prospectus, key information in order to aid investors when considering whether to invest in the Notes.

A.2

Consent to the use of the Base Prospectus

Not Applicable. The Notes are not subject to a Public Offer in the European Economic Area.

Section B – Issuer and Guarantor
B.1	Legal and commercial name of the issuer	SG Issuer (or the Issuer)
B.2	Domicile, legal form, legislation and country of incorporation	Domicile: 00, xxxxxxxxx Xxxxxx Xxxxx, X-0000 Xxxxxxxxxx, Xxxxxxxxxx. Legal form: Public limited liability company (société anonyme). Legislation under which the Issuer operates: Luxembourg law. Country of incorporation: Luxembourg.
B.4b	Known trends affecting the issuer and the industries in which it operates	The Issuer expects to continue its activity in accordance with its corporate objects over the course of 2015.
B.5	Description of the Issuer’s group and the issuer’s position within the group	The Group offers a wide range of advisory services and tailored financial solutions to individual customers, large corporate and institutional investors. The Group relies on three complementary core businesses: • French Retail Banking; • International Retail Banking, Financial Services and Insurance and • Corporate and Investment Banking, Private Banking, Asset and Wealth Management and Securities Services. The Issuer is a subsidiary of the Société Générale Group and has no subsidiaries.
B.9	Figure of profit forecast or estimate of the issuer	Not applicable. The Issuer does not make any figure of profit forecast or estimate.
B.10	Nature of any qualifications in the audit report on the historical financial	Not applicable. The audit reports do not include any qualification.

	information
B.12	Selected historical key financial information regarding the issuer
	No Material adverse change in the prospects of the issuer since the date of its last published audited financial statements	There has been no material adverse change in the prospects of the Issuer since 31 December 2014.
	Significant changes in the financial or trading position subsequent to the period covered by the historical financial information	Not Applicable. There has been no significant change in the Issuer’s financial or trading position of the Issuer since 31 December 2014.
B.13	Recent events particular to the issuer which are to a material extent relevant to the evaluation of the Issuer’s solvency	Not Applicable. There has been no recent event particular to the Issuer which is to a material extent relevant to the evaluation of the Issuer’s solvency.
B.14	Statement as to whether the issuer is dependent upon other entities within the group	See Element B.5 above for the Issuers' position within the Group. SG Issuer is dependent upon Société Générale Bank & Trust within the Group.
B.15	Description of the issuer’s principal activities	The principal activity of SG Issuer is raising finance by the issuance of debt securities designed to be placed to institutional customers or retail customers through the distributors associated with Société Générale. The financing obtained through the issuance of such debt securities is then lent to Société Générale and to other members of the Group.
B.16	To the extent known to the issuer, whether the issuer is directly or indirectly owned or controlled and by whom, and nature of such control	SG Issuer is a 100 per cent. owned subsidiary of Société Générale Bank & Trust S.A. which is itself a 100 per cent. owned subsidiary of Société Générale and is a fully consolidated company.

(in K€)	December 31, 2014 (audited)	December 31, 2013 (audited)
Operating Revenues	110.027	109.588
Profit from operations	209	482
Profit from continuing operations	209	482
Total Assets	23.567.256	21.349.619

B.17

Credit ratings assigned to the issuer or its debt securities

Not Applicable. The Issuer is not rated.

Not Applicable. The Notes to be issued have not been rated.

B.18

Nature and scope of the guarantee

The Notes are unconditionally and irrevocably guaranteed by Société Générale (the Guarantor) pursuant to the Guarantee dated 28 October 2014.

The Guarantee constitutes a direct, unconditional, unsecured and general obligation of the Guarantor and ranks and will rank pari passu with all other existing and future direct, unconditional, unsecured and general obligations of the Guarantor, including those in respect of deposits.

B.19

Information about the guarantor as if it were the issuer of the same type of security that is subject of the guarantee

The information about Société Générale as if it were the Issuer of the same type of Notes that is subject of the Guarantee is set out in accordance with Elements B.19 / B.1, B.19 / B.2, B.19 / B.4b, B.19 / B.5, B.19 / B.9, B.19 / B.10, B.19 / B.12, B.19 / B.13, B.19 / B.14, B.19 / B.15, B.19 / B.16 and B.19 /

B.17 below, respectively:

B.19/ B.1: Société Générale

B.19/ B.2: Domicile: 00, xxxxxxxxx Xxxxxxxxx, 00000 Xxxxx, Xxxxxx. Legal form: Public limited liability company (société anonyme). Legislation under which the Issuer operates: French law. Country of incorporation: France.

B.19/ B.4b:

2014 was another challenging year for the economy, with global activity posting only moderate growth that varied by region. This trend is expected to carry over into 2015, which is shaping up to deliver a weaker-than-expected global economic recovery amid myriad uncertainties both on the geopolitical front and on the commodity and forex markets.

The euro zone is struggling to return to more dynamic growth, thus slowing the reduction of public deficits. Interest rates should remain at record lows, but the deflationary risk should be kept under control by the intervention of the ECB which has announced the implementation of a more accommodative monetary policy and the use of its balance sheet to support growth. The depreciation of the euro and falling oil prices should help boost exports and stimulate domestic demand. The US economy should stay on a positive track and the Fed is expected to begin tightening its monetary policy mid-year. Emerging countries have entered a phase of more moderate growth, in particular China. Russia’s economy is struggling with the consequences of the Ukrainian crisis coupled with the drop in commodity prices.

From a regulatory standpoint, 2014 saw the implementation of the Banking Union. The European Central Bank took the helm of the Single Supervisory Mechanism, overseeing some 130 euro zone banks, with the aim of strengthening the banking system, restoring the confidence of economic operators, harmonising banking supervision rules and reducing the link between banks and their national authorities.

In terms of regulatory ratios, the Group can already meet the new requirements.

B.19/ B.5:

The Group offers a wide range of advisory services and tailored financial solutions to individual customers, large corporate and institutional investors. The Group relies on three complementary core businesses:

• French Retail Banking;

• International Retail Banking, Financial Services and Insurance and

• Corporate and Investment Banking, Private Banking, Asset and Wealth Management and Securities Services.

Société Générale is the parent company of the Société Générale Group.

B.19/ B.9: Not Applicable. The Issuer does not make any figure of profit forecast or estimate.

B.19/B.10:

Not applicable. The audit report does not include any qualification.

B.19/B.12:

Quarter

Year ended

2014

Quarter

Year

ended

	2015 (non audited)	(audited, except as mentionned otherwise (*))	2014 (non audited)	2013 (audited) (1)
Results (in EUR M)
Net Banking Income	6,353	23,561	5,656 (*)	22,433
Operating Income	1,298	4,557 (*)	916 (*)	2,336
Net income before non controlling interests	962	2, 978 (*)	239 (*)	2,394
Net income	868	2, 679 (*)	169 (*)	2,044
French Retail Banking	273	1, 204 (*)	291 (*)	1,196
International Retail Banking & Financial Services	139	370 (*)	(343) (*)	983
Global Banking and Investor Solutions	522	1, 909 (*)	430 (*)	1,206
Corporate Centre	(66)	(804) (*)	(209) (*)	(1,341)
Net cost of Risk	(613)	(2, 967)	(667) (*)	(4,050)
Cost / income ratio (2)	70%	68% (*)	72% (*)	67.0%
ROE after tax (3)	6.9%	5.3%	0.8% (*)	4.1%
Tier 1 Ratio	12.4%	12.6%	11.8%	11.8%
Activity (in EUR bn)
Total assets and liabilities	1,428.8	1,308.2	1,265.8	1,214.2
Customer loans	346.9	344.4	318.6	332.7
Customer deposits	340.5	349.7	315.8	334.2

Equity (in billions of euros)
Group shareholders’ equity	57.2	55.2	51.1	50.9
Total consolidated equity	61.0	58.8	54.1	54.0
Cash flow statements (in billions of euros)
Net inflow (out flow) in cash and cash equivalents	NC	(10,183)	NC	(981)

(1) Items relating to the results for 2013 have been restated due to the implementation of IFRS 10 & 11.

(2) excluding the revaluation of own financial liabilities and DVA

(3) Group ROE calculated on the basis of average Group shareholders’ equity under IFRS (including IAS 32-39 and IFRS 4), excluding unrealised capital losses and gains except for translation reserves, deeply subordinated notes, undated subordinated notes and after deduction of interest payable to holders of these notes.

(*) Note that the data for the 2014 financial year have been restated, on 31.03.2015, due to the implementation on January 1st, 2015 of the IFRIC 21 standard resulting in the publication of adjusted data for the previous financial year.

There has been no material adverse change in the prospects of the Issuer since 31 December 2014.

Not Applicable. There has been no significant change in the Issuer’s financial or trading position of the Issuer since 31 March 2015.

B.19/B.13:

Not Applicable.There has been no recent event particular to the Issuer which is to a material extent relevant to the evaluation of the Issuer's solvency.

B.19/ B.14:

See Element B.5 above for the Issuer’s position within the Group.

Société Générale is the ultimate holding company of the Group. However, Société Générale operates its own business; it does not act as a simple holding company vis-à-vis its subsidiaries.

B.19/ B.15:

See Element B.19/ B.5 above.

B.19/ B.16:

Not Applicable. To its knowledge, Société Générale is not owned or controlled, directly or indirectly (under French law) by another entity.

B.19/ B.17:

Société Générale is rated AA (low) by DBRS, A by Fitch Ratings, A2 by Moody’s Investors Services and A by Standard and Poor’s.

Section C – Securities

C.1	Type and the class of the securities being offered and/or admitted to trading, including any security identification number	The Notes are debt securities. ISIN code: XS1202764335 Common Code: 120276433
C.2	Currency of the securities issue	RUB Settlement currency: EUR
C.5	Description of any restrictions on the free transferability of the securities	There is no restriction on the free transferability of the Notes, subject to selling and transfer restrictions which may apply in certain jurisdictions.
C.8	Rights attached to the securities, including ranking and limitations to those rights and procedures for the exercise of those rights	Rights attached to the securities: Unless the Notes are previously redeemed, the Notes will entitle each holder of the Notes (a Noteholder) to receive a redemption amount at par on the maturity date and a potential yield on these Notes (see Element C.9). A Noteholder will be entitled to claim the immediate and due payment of any sum in case: - the Issuer fails to pay or to perform its other obligations under the Notes - the Guarantor fails to perform its obligations under the Guarantee or in the event that the guarantee of Société Générale stops being valid; - of insolvency or bankruptcy proceeding(s) affecting the Issuer. The Noteholders’ consent shall have to be obtained to amend the contractual terms of the Notes pursuant to the provisions of an agency agreement, made available to a Noteholder upon request to the Issuer. - The Issuer accepts the exclusive competence of the courts of England in benefit of the Noteholders in relation to any dispute against the Issuer but accepts that such Noteholders may bring their action before any other competent court. Ranking: The Notes will be direct, unconditional, unsecured and unsubordinated obligations of the Issuer and will rank equally with all other outstanding direct, unconditional, unsecured and unsubordinated obligations of the Issuer, present and future. Limitations to rights attached to the securities: - the Issuer may redeem the Notes early on the basis of the Specified Denomination of these Notes for tax or regulatory reasons; - the rights to payment of principal and interest will be prescribed within a period of ten years (in the case of principal) and five years (in the case of interest) from the date on which the payment of these amounts has become due for the first time and has remained unpaid. - In the case of a payment default by the Issuer, Noteholders shall not be entitled to take any steps or proceedings to procure the winding-up, administration or liquidation (or any other analogous proceeding) of the Issuer. Nevertheless, Noteholders will continue to be able to claim against the Guarantor in respect of any unpaid amount

Taxation

All payments in respect of Notes, Receipts and Coupons or under the Guarantee shall be made free and clear of, and without withholding or deduction for or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature imposed, levied, collected, withheld or assessed by or on behalf of any Tax Jurisdiction unless such withholding or deduction is required by law.

In the event that any amounts are required to be deducted or withheld for, or on behalf of, any Tax Jurisdiction, the relevant Issuer or, as the case may be, the Guarantor shall (except in certain circumstances), to the fullest extent permitted by law, pay such additional amount as may be necessary, in order that each Noteholder, Receiptholder or Couponholder, after deduction or withholding of such taxes, duties, assessments or governmental charges, will receive the full amount then due and payable.

Governing law

The Notes and any non-contractual obligations arising out of or in connection with the Notes will be governed by, and shall be construed in accordance with English law.

C.9

Rights attached to the securities, including ranking and limitations to those rights and procedures for the exercise of those rights: interest, yield, redemption and representative of Noteholders

See Element C.8 above.

Specified Denomination : RUB 70 000

Interest:

Unless previously redeemed, the interest on the debt securities will take place as follows:

Interest Commencement 27/04/2015

Date: (DD/MM/YYYY)

Rate(s) of Interest: 10.50% per annum payable annually in arrear

Specified Period(s) / Interest 27/04/2016 ; 27/04/2017; 27/04/2018

Payment Date(s):

(DD/MM/YYYY)

Fixed Coupon Amount: Unless previously redeemed, on each

Interest Payment Date, the Issuer shall pay to the Noteholders, for each Note, an amount determined by the Calculation Agent as follows:

Rate of Interest x Specified Denomination x Day Count Fraction

With Day Count Fraction: Actual/Actual (ICMA)

Determination Date(s): 27 April in each year

		Redemption Final Redemption Amount: Unless previously redeemed, the Issuer shall redeem the Notes on the Maturity Date, in accordance with the following provisions in respect of each Note: Specified Denomination x 100% Maturity Date: 27/04/2018 (DD/MM/YYYY) Yield: 10.4896%
		Representative of the Noteholders Not Applicable. The Notes being governed by English law, there is no Representative of the Noteholders.
C.10	Clear and comprehensive explanation to help investors understand how the value of their investment is affected by the value of the underlying instrument(s), especially under the circumstances when the risks are most evident	Not Applicable. The payment of interest is not linked to a derivative component.
C.11	Whether the securities offered are or will be the object of an application for admission to trading, with a view to their distribution in a regulated market or other equivalent markets with indication of the markets in question	Application will be made for the Notes to be admitted to trading on “DomesticMOT” a regulated market organized and managed by Borsa Italiana S.p.A.

Section D – Risks

D.2

Key information on the key risks that are specific to the issuer and the guarantor

The Group is exposed to the risks inherent in its core businesses.

The Group's risk management focuses on the following main categories of risks, any of which could materially adversely affect the Group's business, results of operations and financial condition:

Credit and counterparty risk (including country risk): risk of losses arising

from the inability of the Group’s customers, issuers or other counterparties to meet their financial commitments. Credit risk includes counterparty risk linked to market transactions (replacement risk) and as well as securitisation activities.

Market risk: risk of a loss of value on financial instruments arising from changes in market parameters, volatility of these parameters and correlations between them.

Operational risks: risk of losses or sanctions due to inadequacies or failures in internal procedures or systems, human error or external events;

Structural interest and exchange rate risk: risk of loss or of write-downs in the Group’s assets arising from variations in interest or exchange rates.

Liquidity risk: risk of the Group not being able to meet its cash or collateral requirements as they arise and at a reasonable cost.

The Guarantee constitutes a general and unsecured contractual obligation of the Guarantor and no other person, any payments on the Notes are also dependent on the creditworthiness of the Guarantor.

Prospective investors in Notes benefiting from the Guarantee should note that in case of payment default of an Issuer the entitlement of the Noteholder will be limited to the sums obtained by making a claim under the Guarantee, and the relevant provisions of the Guarantee and they shall have no right to institute any proceeding, judicial or otherwise, or otherwise assert a claim against the Issuer and, in relation to Secured Notes only, from the sums obtained following enforcement of the relevant Pledge Agreement.

The Guarantee is a payment guarantee only and not a guarantee of the performance by the relevant Issuer or any of its other obligations under the Notes benefiting from the Guarantee.

The Guarantee may cover only part of the relevant Issuer's payment obligations under the relevant Series of Notes. In such a case, Noteholders may retain the risk that payments under the Guarantee are less than the amounts due by the Issuer under the Notes.

Société Générale will act as issuer under the Programme, as the Guarantor of the Notes issued by the Issuer and also as provider of hedging instruments to the Issuer. As a result, investors will be exposed not only to the credit risk of the Guarantor but also operational risks arising from the lack of independence of the Guarantor, in assuming its duties and obligations as the Guarantor and provider of the hedging instruments.

The potential conflicts of interests and operational risks arising from such lack of independence are in part intended to be mitigated by the fact that different divisions within the Guarantor will be responsible for implementing the Guarantee and providing the hedging instruments and that each division is run as a separate operational unit, segregated by Chinese walls (information barriers) and run by different management teams.

The Issuer and the Guarantor and any of their subsidiaries and/or their affiliates, in connection with their other business activities, may possess or acquire material information about the underlying assets. Such activities and information may cause consequences adverse to Noteholders.

The Issuer and the Guarantor and any of their subsidiaries and/or their affiliates may act in other capacities with regard to the Notes, such as market maker, calculation agent or agent. Therefore, a potential conflict of interests may arise.

In connection with the offering of the Notes, the Issuer and the Guarantor and/or their affiliates may enter into one or more hedging transaction(s) with respect to a reference asset(s) or related derivatives, which may affect the market price, liquidity or value of the Notes.

D.3

Key information on the key risks that are specific to the securities

Investment in Fixed Rate Notes involves risks linked to the fluctuation of the market rates which could have negative effect on the value of these Notes.

In the case of Dual Currency Notes, the amount of principal and/or interest payable are dependent upon movements in currency exchange rates or are payable in one or more currencies which may be different from the currency in which the Notes are denominated. Accordingly an investment in Dual Currency Notes may bear similar market risks to a direct foreign exchange investment and potential investors should take advice accordingly.

During the lifetime of the Notes, the market value of these Notes may be lower than the invested capital. Furthermore, an insolvency of the Issuer and/or the Guarantor may cause a total loss of the invested capital.

Section E – Offer
E.2.b	Reasons for the offer and use of proceeds	The net proceeds from each issue of Notes will be applied for the general financing purposes of the Société Générale Group, which include making a profit.
E.3	Description of the terms and conditions of the offer	Not Applicable. The Notes are not subject to a public offer in the European Economic Area.
E.4	Description of any interest that is material to the issue/offer including conflicting interests	Save for any fees payable to the dealer, so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer.
E.7	Estimated expenses charged to the investor by the Issuer or the offeror	Not Applicable. No expenses are charged to the investor by the Issuer or the offeror.

ANNEX

(This Annex forms a part of the Final Terms to which it is attached)

FORM OF NOTICE

From : [name and address of the Noteholder]

To : Agent – Société Générale Bank & Trust, Luxembourg

Copy to : Société Générale and Société Générale Securities Services S.p.A.

SG Issuer

Issue of RUB 1 750 000 000 Notes due 27/04/2018 Series 71972EN/15.4 Tranche 1

ISIN CODE : XS1202764335

(the "Notes")

Words and expressions defined in the terms and conditions of the Notes as set out in the Base Prospectus dated 28 October 2014 and the Final Terms dated 23 April 2015, subsequently amended as of 16 June 2015 and re-amended as of 18 June 2015 (the "Conditions") relating to the present issue of Notes shall have the same meanings where used herein (unless the context otherwise requires).

When completed, this Notice should be sent by the Noteholder to the Agent with a copy to the Calculation Agent and Société Générale Securities Services S.p.A. on the Notice Date prior to

10.00 a.m (Luxembourg time).

If no instruction is received on the Notice Date or the Notice is received after 10.00 a.m. (Luxembourg time) on the Notice Date, the Final Redemption Amount shall be redeemed automatically by the Issuer on the Maturity Date.

Any notice which is not duly completed in accordance with the Conditions shall be deemed to be null and void.

Delivery of Notice (whether in writing or by fax) shall constitute an irrevocable election and undertaking by the relevant Noteholder to waive the Final Redemption Amount.

AGENT : Société Générale Bank & Trust, 00 Xxxxxx Xxxxx Xxxxxx X-0000 Xxxxxxxxxx. Telephone: (000) 00 00 00 000 - fax: (352) 24 15 75

Attention: Agencies Services (TITR/CLE/SFI)

CALCULATION AGENT : Société Générale, Tour Société Générale – 00000 Xxxxx-Xx Défense. Attention : OPER/DAI/BAC/COR/PRI/SPE

Swift: XXXXXXXXXXX

(with copy to the following fax n. 0033-1- 00 00 00 00) and

Société Générale Securities Services S.p.A.

For the attention of the Issuer Service Department Fax number: x00 00 00000000

E-mail address: xxxxxxxxxxxxxxxxxx@xxxx.xxxxxx.xx

Name of the Noteholder :

Address of the Noteholder :

Phone number of the Noteholder :

Fax number of the Noteholder :

Contact name :

With this Notice we waive irrevocably the Final Redemption Amount as determined by the Calculation Agent in accordance with the provisions of the Conditions as defined above relating to the present issue of Notes.

ISIN Code:

Account Number:

Market Member :

Series of Notes:

Number of Notes:

Address :

Signature of the Noteholder

NOTA DI SINTESI SPECIFICA DELL’EMISSIONE

Sezione A - Introduzione e avvertenze

A.1

Avvertenza

La presente nota di sintesi deve essere letta come introduzione al Prospetto di Base.

Qualsivoglia decisione da parte dell'investitore in merito all'investimento nelle Notes deve basarsi su una valutazione complessiva del Prospetto di Base.

Qualora sia proposto un ricorso dinanzi all'autorità giudiziaria in merito alle informazioni contenute nel Prospetto di Base, il ricorrente potrebbe essere tenuto a sostenere i costi della traduzione del Prospetto di Base prima dell’inizio del procedimento, ai sensi della legislazione nazionale degli Stati Membri.

Nessun soggetto che ha provveduto alla predisposizione della presente nota di sintesi, compresa l’eventuale traduzione, potrà essere ritenuto responsabile civilmente, salvo che questa risulti fuorviante, imprecisa o incoerente se letta congiuntamente alle altre parti del Prospetto di Base, o non offra, se letta congiuntamente alle altre parti del presente Prospetto di Base, informazioni essenziali volte ad agevolare la decisione

dell'investitore di investire nelle Notes.

A.2

Consenso all'utilizzo del Prospetto di Base

Non Applicabile. Le Notes non saranno oggetto di offerta al pubblico nell’Area Economica Europea.

Sezione B – Emittente e Garante
B.1	Ragione sociale e denominazion e commerciale dell'emittente	SG Issuer (o l’Emittente)
B.2	Sede legale, forma giuridica, legislazione e paese di costituzione	Sede legale: 00, xxxxxxxxx Xxxxxx Xxxxx, X-0000 Xxxxxxxxxxx, Xxxxxxxxxxx. Forma giuridica: Società per azioni a responsabilità limitata (société anonyme). Legislazione di riferimento dell'Emittente: diritto lussemburghese. Paese di costituzione: Lussemburgo.
B.4b	Tendenze note suscettibili di influire sull'emittente e sui settori in cui opera	Nel corso del 2015, l'Emittente prevede di proseguire la propria attività in conformità al relativo oggetto sociale.
B.5	Descrizione del gruppo e della posizione	Il Gruppo offre una vasta gamma di servizi di consulenza e soluzioni finanziarie su misura destinate a clienti privati, grandi aziende e investitori istituzionali. Il Gruppo si basa su tre attività core complementari:

	dell'emittente all'interno del gruppo	• attività di Retail Banking in Francia; • International Retail Banking, Financial Services and Insurance; e • Corporate and Investment Banking, Private Banking, Asset and Wealth Management e Securities Services. L’Emittente è una controllata del Gruppo Société Générale e non ha alcuna società controllata.
B.9	Previsioni o stime relative agli utili dell'emittente	Non Applicabile. L’Emittente non effettua alcuna previsione o stima in relazione agli utili.
B.10	Natura di eventuali riserve espresse nella relazione della società di revisione in merito ai dati storico- finanziari	Non Applicabile. La relazione della società di revisione non contiene alcuna riserva.
B.12	Principali dati storico- finanziari selezionati relativi all'emittente
	Xxxxxx cambiamento sostanzialme nte pregiudizievol i delle prospettive dell'emittente dalla data di pubblicazione dell'ultimo bilancio certificato	Non si è verificato alcun cambiamento negativo rilevante nelle prospettive dell'Emittente successivamente alla data del 31 dicembre 2014.

(in migliaia di EUR)	Esercizio 2014 (certificato)	Esercizio 2013 (certificato)
Ricavi di esercizio	110.027	109.588
Utile di gestione	209	482
Utile da operatività corrente	209	482
Totale attivo	23.567.256	21.349.619

	Cambiamenti significativi relativi alla situazione finanziaria o commerciale dell’emittente successivi al periodo cui si riferiscono i dati storico- finanziari	Non applicabile. Non si è verificato alcun cambiamento rilevante nella posizione finanziaria o di negoziazione dell'Emittente successivamente alla data del 31 dicembre 2014.
B.13	Eventi recenti relativi all'emittente che rilevano, in misura sostanziale, ai fini della valutazione della solvibilità dell'emittente	Non Applicabile. Non si sono verificati eventi recenti relativi all'Emittente che rilevano, in misura sostanziale, ai fini della valutazione della solvibilità dell’Emittente.
B.14	Dichiarazione in ordine alla dipendenza dell'emittente da altre entità del gruppo	Per le informazioni sulla posizione dell’Emittente all'interno del Gruppo si rimanda all'Elemento B.5 che precede. All'interno del Gruppo, SG Issuer fa capo a Société Générale Bank & Trust.
B.15	Descrizioni delle attività principali dell'emittente	L’ attività principale di SG Issuer è rappresentata dalla raccolta di fondi tramite l'emissione di titoli di debito destinati al collocamento presso clienti istituzionali o retail tramite collocatori associati a Société Générale. I fondi derivanti all'emissione di tali titoli di debito vengono quindi concessi in prestito a Société Générale ed altri membri del Gruppo.
B.16	Per quanto a conoscenza dell'emittente, soggetto da cui l'emittente è controllato o partecipato, direttamente o indirettament e, e descrizione della natura di tale controllo	SG Issuer è una società controllata al 100 percento da Société Générale Bank & Trust S.A., che è a sua volta un'entità interamente controllata da Société Générale e interamente consolidata.

B.17	Valutazioni del merito di credito attribuite all’emittente o ai titoli di debito	Non Applicabile. L’Emittente non è oggetto di valutazione del merito di credito. Non Applicabile. Le Notes non sono oggetto di valutazione del merito di credito.
B.18	Natura e ambito della garanzia	Le Notes sono garantite incondizionatamente e irrevocabilmente da Société Générale (il Garante) ai sensi della Garanzia datata 28 ottobre 2014. La Garanzia costituisce un'obbligazione diretta, incondizionata, non garantita e generale del Garante, ed è e sarà pari passu rispetto a tutte le altre obbligazioni, esistenti e future, dirette, incondizionate, non garantite e generali del Garante, ivi comprese quelle relative ai depositi.
B.19	Informazioni	Le informazioni in merito a Société Générale come se questa fosse l'emittente del
	relative al	medesimo tipo dle Notes oggetto della Garanzia sono di seguito riportate,
	garante come	rispettivamente, in conformità a quanto previsto rispettivamente agli Elementi B.19 / B.1,
	se questi fosse	B.19 / B.2, B.19 / B.4b, B.19 / B.5, B.19 / B.9, B.19 / B.10, B.19 / B.12, B.19 / B.13, B.19 /
	l'emittente del	B.14, B.19 / B.15, B.19 / B.16 e B.19/B.17 di seguito rispettivamente:
	medesimo tipo
	di titoli oggetto della garanzia	B.19/ B.1: Société Générale B.19/ B.2: Sede legale: 00, xxxxxxxxx Xxxxxxxxx, 00000 Xxxxxx, Xxxxxxx.
		Forma giuridica: Società per azioni a responsabilità limitata (société anonyme).
		Legislazione di riferimento dell'Emittente: diritto francese.
		Paese di costituzione: Francia.
		B.19/ B.4b: Il 2014 è stato un altro anno difficile per l'economia, con le attività a livello globale che hanno fatto registrare solo una crescita moderata, diversa da regione a regione. Tale tendenza continuerà probabilmente anche nel 2015, anno che si sta preparando a offrire una ripresa a livello globale inferiore alle attese, tra mille incertezze sia di natura geopolitica che in termini di mercati delle materie prime e dei cambi.
		La zona Euro sta faticando a ritornare a una crescita più dinamica, rallentando così la riduzione del disavanzo pubblico. I tassi di interesse dovrebbero rimanere ai livelli minimi, ma il rischio di deflazione dovrebbe essere tenuto sotto controllo grazie all'intervento della BCE che ha annunciato l'adozione di una politica monetaria più accomodante e l'utilizzo del proprio bilancio per sostenere la crescita. Il deprezzamento dell'Euro e il calo dei prezzi del petrolio dovrebbero contribuire a migliorare le esportazioni e a stimolare la domanda interna. L'economia USA dovrebbe continuare a rimanere positiva e si prevede che la Fed avvierà le proprie attività di stretta monetaria verso metà anno. I paesi emergenti stanno vivendo una fase di crescita più moderata, specialmente per quanto riguarda la Cina. L'economia russa si trova ad affrontare le conseguenze della crisi in Ucraina e del crollo dei prezzi delle materie prime.
		Dal punto di vita normativo, il 2014 ha visto l'implementazione della Unione Bancaria. La Banca Centrale Europea ha assunto la guida del Sistema Unico di Vigilanza, controllando circa 130 banche della zona Euro, allo scopo di rafforzare il sistema bancario, ripristinare la fiducia degli operatori economici, armonizzare le norme di vigilanza bancaria e ridurre il collegamento tra banche e rispettive autorità nazionali.
		In termini di coefficienti normativi, il Gruppo è già in grado di soddisfare i nuovi requisiti.
		B.19/ B.5:
		Il Gruppo offre una vasta gamma di servizi di consulenza e soluzioni finanziarie su misura
		destinate a clienti privati, grandi aziende e investitori istituzionali. Il Gruppo si basa su tre

attività core complementari: • attività di Retail Banking in Francia; • International Retail Banking, Financial Services and Insurance; e • Corporate and Investment Banking, Private Banking, Asset and Wealth Management e Securities Services. Société Générale è la capogruppo del Gruppo Société Générale. B.19/ B.9: Non Applicabile. L’Emittente non effettua alcuna previsione o stima in relazione agli utili. B.19/B.10: Non Applicabile. La relazione della società di revisione non contiene alcuna riserva. B.19/B.12:
			1	Esercizi	1	Esercizio
			Trimestr	o 2014	Trimes	2013
			e – 2015	(certifica	tre –	(certificat
			(non	to, salvo	2014	o) (1)
			certificat	quanto	(non
			o)	altriment	certific
				i	ato)
				riportato
				(*))
	Risultati (in milioni
	di EUR)
			6,353		5,656	22,433
	Risultato netto delle attività bancarie			23,561	(*)
			1,298		916 (*)	2,336
	Reddito Operativo			4,557 (*)
			962
	Risultato	netto
	prima partecipazioni	delle di		2, 978 (*)	239 (*)	2,394
	minoranza
			868		169 (*)	2,044
	Risultato netto			2, 679 (*)
			273		291 (*)	1,196
	Retail Banking in			1, 204
	Francia,			(*)
			139
	International Retail Banking & Financial Services			370 (*)	(343) (*)	983
			522
	Global Banking and Investor Solutions			1, 909 (*)	430 (*)	1,206

	Corporate Centre	(66)	(804) (*)	(209) (*)	(1,341)
	Costo netto del rischio	(613)	(2, 967)	(667) (*)	(4,050)
	Costo / profitto rapporto (2)	70%	68% (*)	72% (*)	67.0%
	ROE netto delle tasse (3)	6.9%	5.3%	0.8% (*)	4.1%
	Tier 1 Ratio	12.4%	12.6%	11.8%	11.8%
	Attivo (in miliardi di EUR)
	Totale attivo e passivo	1,428.8	1,308.2	1,265.8	1,214.2
	Finanziamenti a clienti	346.9	344.4	318.6	332.7
	Depositi clienti	340.5	349.7	315.8	334.2
	Patrimonio Netto (in miliardi di EUR)
	Patrimonio netto del Gruppo	57.2	55.2	51.1	50.9
	Totale patrimonio netto consolidato	61.0	58.8	54.1	54.0
	Prospetto dei Flussi di Cassa (in miliardi di EUR)
	Flussi di cassa e mezzi equivalenti in entrata/(in uscita)	NC	(10,183)	NC	(981)
(1) Le voci relative ai risultati per il 2013 sono stati riformulati in seguito all’implementazione di IFRS 10 e 11. (2) escludendo la rivalutazione delle proprie passività finanziarie e DVA (3) Gruppo ROE calcolato sulla base della media patrimonio netto di Gruppo in base agli IFRS (incluso IAS 32-39 e IFRS 4), escluse le minusvalenze non realizzate e le plusvalenze, ad eccezione per le riserve di traduzione, note profondamente subordinate,

obbligazioni subordinate non datati e dopo deduzione di interessi passivi per i titolari di queste note.

(*) I dati per l'esercizio 2014 sono stati modificati, in data 31 marzo 2015, per riflettere l'implementazione, in data 1 gennaio 2015, dello standard IFRIC 21, che ha comportato la pubblicazione di dati rettificati del precedente esercizio.

Dalla data del 31 dicembre 2014 non si è verificato alcun cambiamento sostanzialmente pregiudizievole in relazione alle prospettive dell’Emittente.

Non Applicabile. Successivamente al 31 marzo 2015 non si è verificato alcun cambiamento rilevante in relazione alla situazione finanziaria o commerciale dell’Emittente.

B.19/B.13:

Non Applicabile. Non si sono verificati eventi recenti relativi all’Emittente che rilevano, in misura sostanziale, ai fini della valutazione della solvibilità dell’Emittente.

B.19/ B.14:

Per le informazioni sulla posizione dell’Emittente all'interno del Gruppo si rimanda all'Elemento B.5 che precede.

Société Générale è la holding finale del Gruppo. Tuttavia, Société Générale gestisce anche una propria attività e non opera semplicemente in qualità di holding rispetto alle proprie controllate.

B.19/ B.15:

Si rimanda all'Elemento B.19/B.5 che precede.

B.19/ B.16:

Non Applicabile. Per quanto a sua conoscenza, Société Générale non è controllata né partecipata, direttamente o indirettamente (ai sensi delle leggi francesi), da alcun'altra entità.

B.19/B.17

A Société Générale sono attribuiti i seguenti ratings AA (low) da DBRS, A da Fitch Ratings, A2 da Moody’s Investors Services e A da Standard and Poor’s.

Sezione C – Strumenti finanziari
C.1	Tipologia e classe dei titoli oggetto dell'offerta e/o ammessi alle contrattazioni , ivi compresi i rispettivi codici identificativi	Le Notes sono strumenti titoli di debito. Codice ISIN: XS1202764335 Codice Common: 120276433
C.2	Valuta dei titoli oggetto di emissione	Valuta: RUB Valuta di regolamento: EUR
C.5	Descrizione di	Non sussiste alcuna limitazione alla libera trasferibilità delle Notes, ferme restando le

	eventuali limitazioni alla libera trasferibilità dei titoli	restrizioni di vendita e trasferimento eventualmente in vigore in talune giurisdizioni.
C.8	Diritti connessi ai titoli, tra cui i relativi limiti e priorità, e le procedure per il relativo esercizio	Diritti connessi ai titoli: Le Notes, salvo ove rimborsati in anticipo, daranno diritto a ciascun titolare delle Notes (un Titolare delle Notes) a ricevere un rendimento potenziale sule Notes stessi un ammontare di rimborso che potrebbe risultare inferiore, uguale o maggiore rispetto all'importo inizialmente investito (si rimanda all'Elemento C.18). Il Titolare delle Notes avrà diritto a pretendere l'immediato pagamento di qualunque importo nel caso in cui:
		- l'Emittente non paghi o non rispetti gli altri obblighi ai sensi delle Notes
		- il Garante non adempia ai propri obblighi ai sensi della Garanzia o la garanzia di Société Générale non sia più valida;
		- risultino pendenti procedimenti di insolvenza o fallimento nei confronti dell'Emittente.
		La modifica dei termini contrattuali delle Notes richiede necessariamente il consenso dei Titolari delle Notes ai sensi delle disposizioni di un accordo di agenzia, reso disponibile ai Titolari delle Notes su richiesta dell'Emittente.
		- L'Emittente accetta la competenza esclusiva dei tribunali inglesi in favore dei Titolari delle Notes in relazione a qualunque controversia nei confronti dell'Emittente, e che tali Titolari delle Notes possano promuovere un'azione legale innanzi a qualunque altro tribunale competente.
		Priorità
		Le Notes sono obbligazioni dirette, incondizionate, non garantite e non subordinate dell'Emittente e saranno pari passu rispetto a tutte le altre obbligazioni dirette, incondizionate, non garantite e non subordinate dell'Emittente, presenti e future, in circolazione.
		Limiti ai diritti connessi ai titoli:
		- l’Emittente può rimborsare le Notes anticipatamente sulla base mercato della Denominazione Specificata per ragioni fiscali o regolamentari.
		- i diritti al pagamento di capitale e interessi si prescriveranno entro un periodo di dieci anni (per quanto riguarda il capitale) e cinque anni (per quanto riguarda gli interessi) a decorrere dalla data in cui il pagamento di detti importi è divenuto per la prima volta esigibile e non sia stato onorato.
		- in caso di mancato pagamento da parte dell'Emittente, i Titolari delle Notes non avranno il diritto di intraprendere alcuna iniziativa né alcun procedimento volti ad ottenere lo scioglimento, l'amministrazione o la liquidazione (o analogo procedimento) dell'Emittente. Ciononostante, i Xxxxxxxx delle Notes continueranno ad avere il diritto di pretendere dal Garante il pagamento di qualunque importo non ancora pagato.
		Tassazione
		Tutti i pagamenti relativi ale Notes, alle Ricevute e alle Cedole o previsti ai sensi della Garanzia saranno effettuati senza ritenute o detrazioni in relazione a o in acconto a fronte di alcuna tassa, imposta, accertamento od onere governativo di qualunque natura imposti, esatti, riscossi, trattenuti o accertati, al presente o in futuro, da o per conto di qualunque Autorità Fiscale, salvo ove tale ritenuta o detrazione sia richiesta a

		norma di legge. Nel caso in cui sia necessario detrarre o trattenere qualunque importo in relazione a o per conto di qualunque Autorità Fiscale, il relativo Emittente o, a seconda dei casi, il Garante provvederà (salvo che in determinate circostanze), nella misura massima consentita dalla legge, a versare tale importo aggiuntivo ove necessario, in modo che ciascun Titolare delle Notes, Titolare delle Ricevute o Titolare delle Cedole percepisca, dopo la detrazione o ritenuta a fronte di tali tasse, imposte, accertamenti od oneri governativi, l'intero importo in quel momento dovuto ed esigibile. Legge applicabile Le Notes e qualsiasi altro obbligo extracontrattuale derivante da o relativo ale Notes saranno disciplinati da e interpretati in conformità al diritto inglese.
C.9	Diritti relativi	Si veda l’Elemento C.8 che precede.
	ai titoli,
	inclusi il grado di	Denominazione Specificata: RUB 70.000
	priorità e le
	limitazioni di	Interessi:
	tali diritti e le	Salvo che siano rimborsate in precedenza, gli interessi sulle Notes saranno applicati
	procedure per	come segue:
	l’esercizio dei
	diritti: interesse, rendimento,
	diritti: interesse, rendimento,		Data di avvio di maturazione degli interessi:	27/04/2015
	rimborso e		(GG/MM/AAAA)
	rimborso e
	rappresentant		Tasso(i) di interesse:	10,50% per anno da corrispondersi su
	e dei Titolari			base annua in via posticipata
	delle Notes
	delle Notes		Periodo(i) Specificato(i) / Data(e) di	27/04/2016; 27/04/2017; 27/04/2018
			Pagamento Interessi(i)
			Importo della Cedola Fissa	Salvo che siano rimborsate in anticipo,
				in ciascuna Data di Pagamento
				Interessi, l’Emittente pagherà ai Titolari
				delle Notes, per ciascuna Note, un
				importo determinato dall’Agente di
				Calcolo come segue:
				Tasso di Interesse x Denominazione
				Specificata x Frazione Giorni di Calcolo
				Con Frazione Giorni di Calcolo:
				Actual/Actual (ICMA)
			Date di Determinazione:	27 aprile di ciascun anno
			Rimborso:
			Importo di Rimborso Finale:	Salvo ove rimborsati in anticipo, l’Emittente rimborserà le Notes alla Data di Scadenza, nel rispetto delle seguenti previsioni in relazione a ciascuna Note:
				Importo di Rimborso Finale =
				Denominazione Specificata x 100%

			Data di Scadenza: (GG/MM/AAAA)	27/04/2018
			Rendimento:	10,4896%
			Rappresentante dei Titolari delle Notes:	Non Applicabile. Essendo le Notes regolate dal diritto inglese, il Rappresentante dei Titolari delle Notes non è previsto.
C.10	Descrizione chiara e completa al fine di aiutare l’investitore a comprendere come il valore dell’investimen to dipende dal valore degli strumenti sottostanti, in particolare nei casi in cui i rischi sono più evidenti	Non Applicabile. Il pagamento degli interessi non è legato ad una componente derivativa.
C.11	Se i titoli offerti sono o saranno oggetto di una domanda di ammissione alla negoziazione ai fini di ottenerne la distribuzione su un mercato regolamentato o in altri mercati equivalenti, con indicazione dei mercati in questione	Sarà presentata domanda di ammissione alla negoziazione delle Notes sul mercato regolamentato “DomesticMOT” organizzato e gestito da Borsa Italiana S.p.A..

Sezione D – Xxxxxx

D.2

Principali informazioni relative ai principali rischi specifici dell'emittente e del garante

Il Gruppo è esposto ai rischi intrinseci della propria attività principale.

La gestione del rischio del Gruppo è incentrata sulle seguenti categorie di rischi principali, i quali potrebbero avere effetti sostanzialmente pregiudizievoli sull'attività, sui risultati operativi e sulla situazione finanziaria del Gruppo:

Rischio di credito e di controparte (ivi compreso il rischio paese): rischio di perdite generate dall'incapacità dei clienti, emittenti o altre

controparti del Gruppo di adempiere ai propri impegni finanziari. Il rischio di credito comprende il rischio di controparte collegato alle operazioni di mercato (rischio di sostituzione) oltre alle attività di cartolarizzazione.

Rischio di mercato: rischio di perdita di valore in relazione agli strumenti finanziari risultante da variazioni dei parametri di mercato, dalla volatilità di detti parametri e dalle correlazioni tra tali fattori.

Rischi operativi: rischio di perdite o sanzioni a seguito di inadeguatezze o mancanze riscontrate nelle procedure o nei sistemi interni, errori umani

o eventi esterni;

Rischio strutturale di tasso di interesse e di cambio: rischio di perdite

o deprezzamenti dell'attivo del Gruppo a seguito di variazioni dei tassi di interesse o dei cambi.

Rischio liquidità: rischio che il Gruppo non sia in grado di soddisfare, al loro manifestarsi, le proprie esigenze di liquidità o di garanzia a costi ragionevoli.

La Garanzia costituisce un obbligo contrattuale generale e non garantito del Garante e di nessun altro soggetto; gli eventuali pagamenti relativi alle Notes dipende inoltre dall'affidabilità creditizia del Garante.

Si richiama l'attenzione di coloro che desiderano investire nelle Notes che beneficiano della Garanzia, sul fatto che, in caso di mancato pagamento da parte di un Emittente, gli importi cui hanno diritto i Titolari delle Notes si limiteranno agli importi ottenuti tramite un'apposita azione da promuoversi ai sensi della Garanzia e delle disposizioni rilevanti della Garanzia, e non avranno alcun diritto di istituire alcun procedimento, di natura giudiziaria o altrimenti, né di avanzare alcuna pretesa nei confronti dell'Emittente e, in relazione ai solle Notes Xxxxxxxxx, agli importi ottenuti a seguito dell'escussione del relativo Atto di Pegno.

La Garanzia è una mera garanzia di pagamento e non una garanzia relativa alla performance dell'Emittente rilevante né ad alcuno degli altri obblighi dello stesso ai sensi delle Notes, che beneficiano della Garanzia.

La Garanzia può coprire solo parte degli obblighi di pagamento del relativo Emittente ai sensi della rispettiva serie dle Notes. In tal caso, i Titolari delle Notes potrebbero essere comunque esposti al rischio che i pagamenti ai sensi della Garanzia siano inferiori agli importi dovuti dall'Emittente ai sensi delle Notes.

Société Générale opererà in qualità di emittente ai sensi del Programma, di Garante delle Notes emesse dall’Emittente e di fornitore di strumenti di copertura per l'Emittente. Di conseguenza, gli investitori saranno esposti non solo al rischio di credito del Garante, ma anche ai rischi operativi derivanti dalla mancanza di indipendenza del Garante con riguardo all'assunzione dei propri doveri e obblighi in qualità di Garante e fornitore di strumenti di copertura.

I potenziali conflitti di interesse e i rischi operativi derivanti da tale mancanza di indipendenza dovrebbero in parte essere mitigati dal fatto che all'interno del Garante, l'implementazione della Garanzia e la fornitura di strumenti di copertura compente a divisioni differenti, ognuna

gestita come unità operativa distinta, segregata da barriere informative (i

cosiddetti Chinese Walls) e gestita da team diversi.

L’Emittente e il Garante, e qualunque delle rispettive controllate e/o affiliate, in relazione alle altre rispettive attività commerciali, potrebbero essere in possesso di, o acquisire, informazioni rilevanti in merito alle attività sottostanti. Tali attività e informazioni potrebbero comportare conseguenze negative per i Titolari delle Notes.

L’Emittente e il Garante e qualunque delle rispettive controllate e/o affiliate potrebbero operare in altre vesti in relazione alle Notes, ad esempio in qualità di market maker, agente per il calcolo o agente. Pertanto, potrebbero verificarsi potenziali conflitti di interesse.

In relazione all'offerta delle Notes, l’Emittente e il Garante e/o le rispettive affiliate potrebbe stipulate uno o più operazioni di copertura con riguardo a uno o più attività di riferimento o relativi derivati, suscettibili di incidere

sul prezzo di mercato, sulla liquidità o sul valore delle Notes.

D.3

Principali informazioni relative ai principali rischi specifici dei titoli

L’investimento in Notes a Tasso fisso comporta rischi correlati alle oscillazioni dei tassi di mercato che potrebbero avere un effetto negativo sul valore di tali Notes.

Nel caso in cui l’Emittente emetta Notes di tipo Dual Currency, l’importo del capitale e degli interessi dovuti dipende dalle variazioni dei tassi di cambio ovvero deve essere corrisposto in una o più valute che possono essere diverse dalla valuta in cui le Notes sono denominate. Conseguentemente, un investimento in Notes di tipo Dual Currency può comportare rischi di mercato analoghi ai rischi di un investimento diretto nelle valute e si invitano quindi i potenziali investitori a farsi consigliare di conseguenza.

Nel corso della loro vita, il valore di mercato di queste Notes può essere inferiore rispetto al capitale investito. Inoltre, in caso di insolvenza da parte dell’Emittente e/o del Garante si potrebbe avere la perdita totale del

capitale investito.

Sezione E – Offerta

E.2b

Motivi dell'offerta e utilizzo dei proventi

I proventi netti di ciascuna emissione delle Notes saranno utilizzati ai fini del finanziamento generico del Gruppo Société Générale, ivi compreso ai

fini del perseguimento del profitto.

E.3

Descrizione dei termini e delle condizioni dell'offerta

Non Applicabile. Le Notes non sono oggetto di offerta al pubblico nell’Area Economica Europea.

E.4

Descrizione di qualunque interesse rilevante ai fini dell'emissione/offerta, ivi compresi i conflitti di interesse

Fatte salve le eventuali commissioni spettanti al Dealer, per quanto a conoscenza dell'Emittente nessuno dei soggetti coinvolti nell'emissione delle Notes ha un interesse rilevante nell'offerta.

E.7

Stima dei costi addebitati

Non Applicabile. All'investitore non sarà addebitato alcun costo da parte dell'Emittente.

all'investitore

dall'Emittente o dall'offerente

Amended as of 16/06/2015 (The initial Date of these Final Terms is 23/04/2015)

SG Issuer

Issue of INR 1 750 000 000 Notes due 27/04/2017 Unconditionally and irrevocably guaranteed by Société Générale under the

Debt Instruments Issuance Programme PART A – CONTRACTUAL TERMS

1. (i) Series Number: 71972EN/15.4

(ii) Tranche Number: 1

(iii) Date on which the Notes become

fungible: Not Applicable

2. Specified Currency: INR

3. Aggregate Nominal Amount:

(i) - Tranche: INR 1 750 000 000

(ii) - Series:

INR 1 750 000 000

4. Issue Price: 100% of the Aggregate Nominal Amount

5. Specified Denomination: INR 70 000

6. (i) Issue Date:

(DD/MM/YYYY) 27/04/2015

(ii) Interest Commencement Date:

(DD/MM/YYYY) 27/04/2015

7. Maturity Date:

(DD/MM/YYYY) 27/04/2017

8. Governing law: English law

9. (i) Status of the Notes: Unsecured

(ii) Date of corporate authorisation

obtained for the issuance of Notes: Not Applicable

(iii) Type of Structured Notes: Not Applicable

(iv) Reference of the Product: Not Applicable

10. Interest Basis: See section “PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE” below.

11. Redemption/Payment Basis: See section “PROVISIONS RELATING TO

REDEMPTION” below.

12. Issuer’s/Noteholders’ redemption option:

See section “PROVISIONS RELATING TO REDEMPTION” below.

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

13.	(i)	Fixed Rate Note Provisions: Rate(s) of Interest:	Applicable as per Condition 3.1 of the General Terms and Conditions 5% per annum payable annually in arrear
	(ii)	Specified Period(s) / Interest Payment Date(s): (DD/MM/YYYY)	27/04/2016 ; 27/04/2017
	(iii)	Business Day Convention:	Following Business Day Convention (unadjusted)
	(iv)	Fixed Coupon Amount:	Unless previously redeemed, on each Interest Payment Date, the Issuer shall pay to the Noteholders, for each Note, an amount determined by the Calculation Agent as follows:
			Rate of Interest x Specified Denomination x Day Count Fraction
	(v)	Day Count Fraction:	Actual/Actual (ICMA)
	(vi)	Broken Amount(s):	In case of a long or short Interest Period (with regard to paragraph 13(ii) “Specified Period(s)/Interest Payment Date(s)" above), the amount of interest will be calculated in accordance with the formula specified in paragraph 13(iv) “Fixed Coupon Amount” above.
	(vii)	Determination Date(s):	27 April in each year
14.		Floating Rate Note Provisions:	Not Applicable
15.		Structured Interest Note Provisions:	Not Applicable
16.		Zero Coupon Note Provisions:	Not Applicable

PROVISIONS RELATING TO REDEMPTION

17. Redemption at the option of the

Issuer: Not Applicable

18. Redemption at the option of the

Noteholders: Not Applicable

19. Automatic Early Redemption: Not Applicable

20. Final Redemption Amount: Unless previously redeemed, the Issuer shall redeem

the Notes on the Maturity Date, in accordance with the following provisions in respect of each Note:

Final Redemption Amount = Specified Denomination x 100%

21. Physical Delivery Note Provisions: Not Applicable

22. Credit Linked Notes Provisions: Not Applicable

23. Bond Linked Notes Provisions: Not Applicable

24. Trigger redemption at the option of

the Issuer: Not Applicable

25. Early Redemption Amount payable on Event of Default or, at the option of the Issuer, on redemption for

taxation or regulatory reasons: 100% of Specified Denomination per Note

PROVISIONS APPLICABLE TO THE UNDERLYING(S) IF ANY

26.

(i)

Underlying(s):

Not Applicable

(ii)

Information relating to the past and future performances of the Underlying(s) and volatility:

Not Applicable

(iii)

Provisions relating, amongst others, to the Market Disruption Event(s) and/or Extraordinary Event(s) and/or Monetisation until the Maturity Date and/or any additional

disruption event(s) as

described in the relevant Additional Terms and Conditions for Structured Notes:

Not Applicable

(iv) Other information relating to

the Underlying(s): Not Applicable

DEFINITIONS APPLICABLE TO INTEREST (IF ANY), REDEMPTION AND THE UNDERLYING(S) IF ANY

27.	(i)	Definitions relating to date(s):	Not Applicable
	(ii)	Definitions relating to the Product:	Not Applicable

PROVISIONS RELATING TO SECURED NOTES

28. Secured Notes Provisions: Not Applicable

GENERAL PROVISIONS APPLICABLE TO THE NOTES

29.		Provisions applicable to payment date(s): - Payment Business Day:	Following Payment Business Day
		- Financial Centre(s):	TARGET2
30.		Form of the Notes:
	(i)	Form:	Non-US Registered Global Note registered in the name of a nominee for a common depositary for Euroclear and Clearstream, Luxembourg
	(ii)	New Global Note (NGN – bearer notes) / New Safekeeping Structure (NSS – registered notes):	No
31.		Redenomination:	Not Applicable
32.		Consolidation:	Applicable as per Condition 14.2 of the General Terms and Conditions
33.		Partly Paid Notes Provisions:	Not Applicable
34.		Instalment Notes Provisions:	Not Applicable
35.		Masse:	Not Applicable
36.		Dual Currency Note Provisions:	Applicable as per Condition 4.14 of General Terms and Conditions
	(i)	Settlement Currency	EUR
	(ii)	Dual Currency Exchange Rate	EUR/INR, is obtained by crossing EUR/USD and USD/INR The Notes are denominated in INR but all the payments in respect of the Notes shall be made in EUR
	(iii)	Method of calculating the fixing of Dual Currency Exchange Rate	Screen Rate Determination
		- Dual Currency Valuation Date:	In respect of the Issue Date: Valuation Date(0) is 3 Business Days before Issue Date In respect of each Interest Payment Date(i) (i from 1 to 2): Valuation Date(i) In respect of the Maturity Date: Valuation Date(2) Valuation Date(i) (i from 1 to 2) is 3 Business Days before the relevant Interest Payment Date(i) (i from 1 to 2)
		- Dual Currency Valuation Time:	EUR/USD at 14:15 Frankfurt time USD/INR at or around 1:30 p.m. Mumbai time
		- Relevant Screen Page:	EUR/USD published on Reuters page ECB37 USD/INR published on Reuters page RBIB
37.		Additional Amount Provisions for	Not Applicable

Italian Certificates:

38. Interest Amount and/or the Redemption Amount switch at the

option of the Issuer: Not Applicable

PART B – OTHER INFORMATION

1. LISTING AND ADMISSION TO TRADING

(i) Listing: Application will be made for the Notes to be listed on “DomesticMOT”, a regulated market organized and managed by Borsa Italiana S.p.A.

(ii) Admission to trading: Application will be made for the Notes to be admitted

to trading on “DomesticMOT”, a regulated market organized and managed by Borsa Italiana S.p.A.” with effect from or as soon as practicable after the Issue Date.

There can be no assurance that the listing and trading of the Notes will be approved with effect on the Issue Date or at all.

(iii) Estimate of total expenses related to admission to

trading: Not Applicable

(iv) Information required for Notes to be listed on SIX

Swiss Exchange: Not Applicable

2. RATINGS

The Notes to be issued have not been rated.

3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER

Save for fees, if any, payable to the Dealer, and so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer.

4. REASONS FOR THE OFFER AND USE OF PROCEEDS, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

(i) Reasons for the offer and use of proceeds:

The net proceeds from each issue of Notes will be applied for the general financing purposes of the Société Générale Group, which include making a profit.

(ii) Estimated net proceeds: Not Applicable

(iii) Estimated total expenses: Not Applicable

5. INDICATION OF YIELD (Fixed Rate Notes only)

Yield : 4.9930%

6. HISTORIC INTEREST RATES (Floating Rate Notes only)

Not Applicable

7. PERFORMANCE AND EFFECT ON VALUE OF INVESTMENT

(i) PERFORMANCE OF FORMULA, EXPLANATION OF EFFECT ON VALUE OF INVESTMENT (Structured Notes only)

Investment in Notes including fixed interest rate involves risks linked to the fluctuation of the market rates which could have negative effect on the value of these Notes.

During the lifetime of the Notes, the market value of these Notes may be lower than the invested capital.

Furthermore, an insolvency of the Issuer and/or the Guarantor may cause a total loss of the invested capital.

The attention of the investors is drawn to the fact that they could sustain an entire or a partial loss of their investment.

(ii) PERFORMANCE OF RATE[S] OF EXCHANGE AND EXPLANATION OF EFFECT ON VALUE OF INVESTMENT (Dual Currency Notes only)

The attention of the investors is drawn to the fact that they could sustain an entire or a partial loss of their investment.

8. OPERATIONAL INFORMATION

(i) Security identification code(s):

- ISIN Code: XS1202764681

- Common Code: 120276468

(ii) Clearing System(s): Euroclear Bank S.A/N.V. (Euroclear) / Clearstream

Banking société anonyme (Clearstream, Luxembourg) and Monte Titoli S.p.A (Monte Titoli)

	(iii)	Delivery:	Delivery against payment
	(iv)	Calculation Agent:	Société Générale
			Tour Société Générale
			17 Cours Valmy
			00000 Xxxxx Xx Xxxxxxx Xxxxx
			Xxxxxx
	(v)	Paying Agent(s):	Société Générale Bank&Trust
			00, xxxxxx Xxxxx Xxxxxx
			0000 Xxxxxxxxxx
			Xxxxxxxxxx
			And
			Société Générale Securities Services S.p.A.
			Xxx Xxxxxxx Xxxxxx, 00/x
			00000 Xxxxxx
			Xxxxx
	(xx)	Eurosystem eligibility of the
		Notes:	No
	(vii)	Address and contact details of Société Générale for all administrative communications relating to the Notes:	Société Générale Tour Société Générale 00 Xxxxx Xxxxx 00000 Xxxxx Xx Xxxxxxx Xxxxx Xxxxxx
			Name: Sales Support Services - Derivatives
			Tel: x00 0 00 00 00 00 (Hotline)
			Email: xxxxxxxxxxxxx-xxxx@xxxxx.xxx
9.		DISTRIBUTION

(i) Method of distribution: Non-syndicated

- Dealer(s): Société Générale Tour Société Générale 17 Cours Valmy

00000 Xxxxx Xx Xxxxxxx Xxxxx Xxxxxx

(ii) Total commission and concession:

There is no commission and/or concession paid by the Issuer to the Dealer or the Managers.

(iii) TEFRA rules: Not Applicable

(iv) Permanently Restricted Notes: Yes

(v) Non-exempt Offer: Not Applicable

10. PUBLIC OFFERS IN EUROPEAN ECONOMIC AREA

Not Applicable

11. ADDITIONAL INFORMATION

- Minimum Investment in the

Notes: INR 70 000 (i.e. 1 Note)

- Minimum Trading: INR 70 000 (i.e. 1 Note)

12. PUBLIC OFFERS IN OR FROM SWITZERLAND

Not Applicable

ISSUE SPECIFIC SUMMARY

Section A – Introduction and warnings

A.1

Warning

This summary must be read as an introduction to the Base Prospectus.

Any decision to invest in the Notes should be based on a consideration of the Base Prospectus.

A.2

Consent to the use of the Base Prospectus

Not Applicable. The Notes are not subject to a Public Offer in the European Economic Area.

Section B – Issuer and Guarantor
B.1	Legal and commercial name of the issuer	SG Issuer (or the Issuer)
B.2	Domicile, legal form, legislation and country of incorporation	Domicile: 00, xxxxxxxxx Xxxxxx Xxxxx, X-0000 Xxxxxxxxxx, Xxxxxxxxxx. Legal form: Public limited liability company (société anonyme). Legislation under which the Issuer operates: Luxembourg law. Country of incorporation: Luxembourg.
B.4b	Known trends affecting the issuer and the industries in which it operates	The Issuer expects to continue its activity in accordance with its corporate objects over the course of 2015.
B.5	Description of the Issuer’s group and the issuer’s position within the group	The Group offers a wide range of advisory services and tailored financial solutions to individual customers, large corporate and institutional investors. The Group relies on three complementary core businesses: • French Retail Banking; • International Retail Banking, Financial Services and Insurance and • Corporate and Investment Banking, Private Banking, Asset and Wealth Management and Securities Services. The Issuer is a subsidiary of the Société Générale Group and has no subsidiaries.
B.9	Figure of profit forecast or estimate of the issuer	Not applicable. The Issuer does not make any figure of profit forecast or estimate.
B.10	Nature of any qualifications in the audit report on	Not applicable. The audit reports do not include any qualification.

	the historical financial information
B.12	Selected historical key financial information regarding the issuer
	No Material adverse change in the prospects of the issuer since the date of its last published audited financial statements	There has been no material adverse change in the prospects of the Issuer since 31 December 2014.
	Significant changes in the financial or trading position subsequent to the period covered by the historical financial information	Not Applicable. There has been no significant change in the Issuer’s financial or trading position of the Issuer since 31 December 2014.
B.13	Recent events particular to the issuer which are to a material extent relevant to the evaluation of the Issuer’s solvency	Not Applicable. There has been no recent event particular to the Issuer which is to a material extent relevant to the evaluation of the Issuer’s solvency.
B.14	Statement as to whether the issuer is dependent upon other entities within the group	See Element B.5 above for the Issuers' position within the Group. SG Issuer is dependent upon Société Générale Bank & Trust within the Group.
B.15	Description of the issuer’s principal activities	The principal activity of SG Issuer is raising finance by the issuance of debt securities designed to be placed to institutional customers or retail customers through the distributors associated with Société Générale. The financing obtained through the issuance of such debt securities is then lent to Société Générale and to other members of the Group.
B.16	To the extent known to the issuer, whether the issuer is directly or indirectly owned or controlled and by	SG Issuer is a 100 per cent. owned subsidiary of Société Générale Bank & Trust S.A. which is itself a 100 per cent. owned subsidiary of Société Générale and is a fully consolidated company.

(in K€)	December 31, 2014 (audited)	December 31, 2013 (audited)
Operating Revenues	110.027	109.588
Profit from operations	209	482
Profit from continuing operations	209	482
Total Assets	23.567.256	21.349.619

	whom, and nature of such control
B.17	Credit ratings assigned to the issuer or its debt securities	Not Applicable. The Issuer is not rated. Not Applicable. The Notes to be issued have not been rated.
B.18	Nature and scope of the guarantee	The Notes are unconditionally and irrevocably guaranteed by Société Générale (the Guarantor) pursuant to the Guarantee dated 28 October 2014. The Guarantee constitutes a direct, unconditional, unsecured and general obligation of the Guarantor and ranks and will rank pari passu with all other existing and future direct, unconditional, unsecured and general obligations of the Guarantor, including those in respect of deposits.
B.19	Information about the guarantor as if it were the issuer of the same type of security that is subject of the guarantee	The information about Société Générale as if it were the Issuer of the same type of Notes that is subject of the Guarantee is set out in accordance with Elements B.19 / B.1, B.19 / B.2, B.19 / B.4b, B.19 / B.5, B.19 / B.9, B.19 / B.10, B.19 / B.12, B.19 / B.13, B.19 / B.14, B.19 / B.15, B.19 / B.16 and B.19 / B.17 below, respectively: B.19/ B.1: Société Générale B.19/ B.2: Domicile: 00, xxxxxxxxx Xxxxxxxxx, 00000 Xxxxx, Xxxxxx. Legal form: Public limited liability company (société anonyme). Legislation under which the Issuer operates: French law. Country of incorporation: France. B.19/ B.4b: 2014 was another challenging year for the economy, with global activity posting only moderate growth that varied by region. This trend is expected to carry over into 2015, which is shaping up to deliver a weaker-than-expected global economic recovery amid myriad uncertainties both on the geopolitical front and on the commodity and forex markets. The euro zone is struggling to return to more dynamic growth, thus slowing the reduction of public deficits. Interest rates should remain at record lows, but the deflationary risk should be kept under control by the intervention of the ECB which has announced the implementation of a more accommodative monetary policy and the use of its balance sheet to support growth. The depreciation of the euro and falling oil prices should help boost exports and stimulate domestic demand. The US economy should stay on a positive track and the Fed is expected to begin tightening its monetary policy mid-year. Emerging countries have entered a phase of more moderate growth, in particular China. Russia’s economy is struggling with the consequences of the Ukrainian crisis coupled with the drop in commodity prices. From a regulatory standpoint, 2014 saw the implementation of the Banking Union. The European Central Bank took the helm of the Single Supervisory Mechanism, overseeing some 130 euro zone banks, with the aim of strengthening the banking system, restoring the confidence of economic operators, harmonising banking supervision rules and reducing the link between banks and their national authorities. In terms of regulatory ratios, the Group can already meet the new requirements. B.19/ B.5: The Group offers a wide range of advisory services and tailored financial solutions to individual customers, large corporate and institutional investors. The Group relies on three complementary core businesses: • French Retail Banking; • International Retail Banking, Financial Services and Insurance and • Corporate and Investment Banking, Private Banking, Asset and Wealth Management and Securities Services. Société Générale is the parent company of the Société Générale Group. B.19/ B.9: Not Applicable. The Issuer does not make any figure of profit forecast or estimate. B.19/B.10: Not applicable. The audit report does not include any qualification. B.19/B.12:

	Quarter 1- 2015 (non audited)	Year ended 2014 (audited, except as mentionned otherwise (*))	Quarter 1- 2014 (non audited)	Year ended 2013 (audited) (1)
Results (in EUR M)
Net Banking Income	6,353	23,561	5,656 (*)	22,433
Operating Income	1,298	4,557 (*)	916 (*)	2,336
Net income before non controlling interests	962	2, 978 (*)	239 (*)	2,394
Net income	868	2, 679 (*)	169 (*)	2,044
French Retail Banking	273	1, 204 (*)	291 (*)	1,196
International Retail Banking & Financial Services	139	370 (*)	(343) (*)	983
Global Banking and Investor Solutions	522	1, 909 (*)	430 (*)	1,206
Corporate Centre	(66)	(804) (*)	(209) (*)	(1,341)
Net cost of Risk	(613)	(2, 967)	(667) (*)	(4,050)
Cost / income ratio (2)	70%	68% (*)	72% (*)	67.0%
ROE after tax (3)	6.9%	5.3%	0.8% (*)	4.1%
Tier 1 Ratio	12.4%	12.6%	11.8%	11.8%
Activity (in EUR bn)
Total assets and liabilities	1,428.8	1,308.2	1,265.8	1,214.2
Customer loans	346.9	344.4	318.6	332.7

Customer deposits	340.5	349.7	315.8	334.2
Equity (in billions of euros)
Group shareholders’ equity	57.2	55.2	51.1	50.9
Total consolidated equity	61.0	58.8	54.1	54.0
Cash flow statements (in billions of euros)
Net inflow (out flow) in cash and cash equivalents	NC	(10,183)	NC	(981)

(1) Items relating to the results for 2013 have been restated due to the implementation of IFRS 10 & 11.

(2) excluding the revaluation of own financial liabilities and DVA

There has been no material adverse change in the prospects of the Issuer since 31 December 2014.

Not Applicable. There has been no significant change in the Issuer’s financial or trading position of the Issuer since 31 March 2015.

B.19/B.13:

Not Applicable.There has been no recent event particular to the Issuer which is to a material extent relevant to the evaluation of the Issuer's solvency.

B.19/ B.14:

See Element B.5 above for the Issuer’s position within the Group.

Société Générale is the ultimate holding company of the Group. However, Société Générale operates its own business; it does not act as a simple holding company vis-à-vis its subsidiaries.

B.19/ B.15:

See Element B.19/ B.5 above.

B.19/ B.16:

Not Applicable. To its knowledge, Société Générale is not owned or controlled, directly or indirectly (under French law) by another entity.

B.19/ B.17:

Société Générale is rated AA (low) by DBRS, A by Fitch Ratings, A2 by Moody’s Investors Services and A by Standard and Poor’s.

Section C – Securities
C.1	Type and the class	The Notes are debt securities.

	of the securities being offered and/or admitted to trading, including any security identification number	ISIN code: XS1202764681 Common Code: 120276468
C.2	Currency of the securities issue	INR Settlement currency: EUR
C.5	Description of any restrictions on the free transferability of the securities	There is no restriction on the free transferability of the Notes, subject to selling and transfer restrictions which may apply in certain jurisdictions.
C.8	Rights attached to the securities, including ranking and limitations to those rights and procedures for the exercise of those rights	Rights attached to the securities: Unless the Notes are previously redeemed, the Notes will entitle each holder of the Notes (a Noteholder) to receive a redemption amount at par on the maturity date and a potential yield on these Notes (see Element C.9). A Noteholder will be entitled to claim the immediate and due payment of any sum in case: - the Issuer fails to pay or to perform its other obligations under the Notes - the Guarantor fails to perform its obligations under the Guarantee or in the event that the guarantee of Société Générale stops being valid; - of insolvency or bankruptcy proceeding(s) affecting the Issuer. The Noteholders’ consent shall have to be obtained to amend the contractual terms of the Notes pursuant to the provisions of an agency agreement, made available to a Noteholder upon request to the Issuer. - The Issuer accepts the exclusive competence of the courts of England in benefit of the Noteholders in relation to any dispute against the Issuer but accepts that such Noteholders may bring their action before any other competent court. Ranking: The Notes will be direct, unconditional, unsecured and unsubordinated obligations of the Issuer and will rank equally with all other outstanding direct, unconditional, unsecured and unsubordinated obligations of the Issuer, present and future. Limitations to rights attached to the securities: - the Issuer may redeem the Notes early on the basis of the Specified Denominationof these Notes for tax or regulatory reasons - the rights to payment of principal and interest will be prescribed within a period of ten years (in the case of principal) and five years (in the case of interest) from the date on which the payment of these amounts has become due for the first time and has remained unpaid. - In the case of a payment default by the Issuer, Noteholders shall not be entitled to take any steps or proceedings to procure the winding-up, administration or liquidation (or any other analogous proceeding) of the Issuer. Nevertheless, Noteholders will continue to be able to claim against the Guarantor in respect of any unpaid amount

		Taxation All payments in respect of Notes, Receipts and Coupons or under the Guarantee shall be made free and clear of, and without withholding or deduction for or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature imposed, levied, collected, withheld or assessed by or on behalf of any Tax Jurisdiction unless such withholding or deduction is required by law. In the event that any amounts are required to be deducted or withheld for, or on behalf of, any Tax Jurisdiction, the relevant Issuer or, as the case may be, the Guarantor shall (except in certain circumstances), to the fullest extent permitted by law, pay such additional amount as may be necessary, in order that each Noteholder, Receiptholder or Couponholder, after deduction or withholding of such taxes, duties, assessments or governmental charges, will receive the full amount then due and payable. Governing law The Notes and any non-contractual obligations arising out of or in connection with the Notes will be governed by, and shall be construed in accordance with English law.
C.9	Rights attached to the securities, including ranking and limitations to those rights and procedures for the exercise of those rights: interest, yield, redemption and representative of Noteholders	See Element C.8 above. Specified Denomination : INR 70 000 Interest: Unless previously redeemed, the interest on the debt securities will take place as follows: Interest Commencement 27/04/2015 Date: (DD/MM/YYYY)
		Rate(s) of Interest: 5% per annum payable annually in arrear Specified Period(s) / Interest 27/04/2016 ; 27/04/2017 Payment Date(s)(i): (DD/MM/YYYY) Fixed Coupon Amount: Unless previously redeemed, on each Interest Payment Date, the Issuer shall pay to the Noteholders, for each Note, an amount determined by the Calculation Agent as follows: Rate of Interest x Specified Denomination x Day Count Fraction With Day Count Fraction: Actual/Actual (ICMA) Determination Date(s): 27 April in each year
		Redemption: Final Redemption Amount: Unless previously redeemed, the Issuer shall redeem the Notes on the Maturity Date, in accordance with the following provisions in respect of each Note: Final Redemption Amount = Specified

		Denomination x 100% Maturity Date: 27/04/2017 (DD/MM/YYYY) Yield: 4.9930%
		Representative of the Noteholders: Not Applicable. The Notes being governed by English law, there is no Representative of the Noteholders.
C.10	Clear and comprehensive explanation to help investors understand how the value of their investment is affected by the value of the underlying instrument(s), especially under the circumstances when the risks are most evident	Not Applicable. The payment of interest is not linked to a derivative component.
C.11	Whether the securities offered are or will be the object of an application for admission to trading, with a view to their distribution in a regulated market or other equivalent markets with indication of the markets in question	Application will be made for the Notes to be admitted to trading on “DomesticMOT” a regulated market organized and managed by Borsa Italiana S.p.A.

Section D – Risks

D.2

Key information on the key risks that are specific to the issuer and the guarantor

The Group is exposed to the risks inherent in its core businesses.

The Group's risk management focuses on the following main categories of risks, any of which could materially adversely affect the Group's business, results of operations and financial condition:

Credit and counterparty risk (including country risk): risk of losses arising from the inability of the Group’s customers, issuers or other counterparties to meet their financial commitments. Credit risk includes counterparty risk linked to market transactions (replacement risk) and as well as securitisation activities.

Market risk: risk of a loss of value on financial instruments arising from changes in market parameters, volatility of these parameters and correlations between them.

Operational risks: risk of losses or sanctions due to inadequacies or failures in internal procedures or systems, human error or external events;

Structural interest and exchange rate risk: risk of loss or of write-downs in the Group’s assets arising from variations in interest or exchange rates.

Liquidity risk: risk of the Group not being able to meet its cash or collateral requirements as they arise and at a reasonable cost.

The Guarantee constitutes a general and unsecured contractual obligation of the Guarantor and no other person, any payments on the Notes are also dependent on the creditworthiness of the Guarantor.

The Guarantee is a payment guarantee only and not a guarantee of the performance by the relevant Issuer or any of its other obligations under the Notes benefiting from the Guarantee.

D.3

Key information on the key risks that are specific to the securities

Investment in Fixed Rate Notes involves risks linked to the fluctuation of the market rates which could have negative effect on the value of these Notes.

Section E – Offer
E.2.b	Reasons for the offer and use of proceeds	The net proceeds from each issue of Notes will be applied for the general financing purposes of the Société Générale Group, which include making a profit.
E.3	Description of the terms and conditions of the offer	Not Applicable. The Notes are not subject to a public offer in the European Economic Area.
E.4	Description of any interest that is material to the issue/offer including conflicting interests	Save for any fees payable to the dealer, so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer.
E.7	Estimated expenses charged to the investor by the Issuer or the offeror	Not Applicable. No expenses are charged to the investor by the Issuer or the offeror.

ANNEX

(This Annex forms a part of the Final Terms to which it is attached)

FORM OF NOTICE

From : [name and address of the Noteholder]

To : Agent – Société Générale Bank & Trust, Luxembourg

Copy to : Société Générale and Société Générale Securities Services S.p.A.

SG Issuer

Issue of INR 1 750 000 000 Notes due 27/04/2017 Series 71972EN/15.4 Tranche 1

ISIN CODE : XS1202764681

(the "Notes")

Words and expressions defined in the terms and conditions of the Notes as set out in the Base Prospectus dated 28 October 2014 and the Final Terms dated 15 June 2015 (the "Conditions") relating to the present issue of Notes shall have the same meanings where used herein (unless the context otherwise requires).

When completed, this Notice should be sent by the Noteholder to the Agent with a copy to the Calculation Agent and Société Générale Securities Services S.p.A. on the Notice Date prior to

10.00 a.m (Luxembourg time).

Any notice which is not duly completed in accordance with the Conditions shall be deemed to be null and void.

Delivery of Notice (whether in writing or by fax) shall constitute an irrevocable election and undertaking by the relevant Noteholder to waive the Final Redemption Amount.

AGENT : Société Générale Bank & Trust, 00 Xxxxxx Xxxxx Xxxxxx X-0000 Xxxxxxxxxx. Telephone: (000) 00 00 00 000 - fax: (352) 24 15 75

Attention: Agencies Services (TITR/CLE/SFI)

CALCULATION AGENT : Société Générale, Tour Société Générale – 00000 Xxxxx-Xx Défense. Attention : OPER/DAI/BAC/COR/PRI/SPE

Swift: XXXXXXXXXXX

(with copy to the following fax n. 0033-1- 00 00 00 00) and

Société Générale Securities Services S.p.A.

For the attention of the Issuer Service Department Fax number: x00 00 00000000

E-mail address: xxxxxxxxxxxxxxxxxx@xxxx.xxxxxx.xx

Name of the Noteholder :

Address of the Noteholder :

Phone number of the Noteholder :

Fax number of the Noteholder :

Contact name :

ISIN Code:

Account Number:

Market Member :

Series of Notes:

Number of Notes:

Address :

Signature of the Noteholder

NOTA DI SINTESI SPECIFICA DELL’EMISSIONE

Sezione A - Introduzione e avvertenze

A.1

Avvertenza

La presente nota di sintesi deve essere letta come introduzione al Prospetto di Base.

Qualsivoglia decisione da parte dell'investitore in merito all'investimento nelle Notes deve basarsi su una valutazione complessiva del Prospetto di Base.

dell'investitore di investire nelle Notes.

A.2

Consenso all'utilizzo del Prospetto di Base

Non Applicabile. Le Notes non saranno oggetto di offerta al pubblico nell’Area Economica Europea.

Sezione B – Emittente e Garante
B.1	Ragione sociale e denominazion e commerciale dell'emittente	SG Issuer (o l’Emittente)
B.2	Sede legale, forma giuridica, legislazione e paese di costituzione	Sede legale: 00, xxxxxxxxx Xxxxxx Xxxxx, X-0000 Xxxxxxxxxxx, Xxxxxxxxxxx. Forma giuridica: Società per azioni a responsabilità limitata (société anonyme). Legislazione di riferimento dell'Emittente: diritto lussemburghese. Paese di costituzione: Lussemburgo.
B.4b	Tendenze note suscettibili di influire sull'emittente e sui settori in cui opera	Nel corso del 2015, l'Emittente prevede di proseguire la propria attività in conformità al relativo oggetto sociale.
B.5	Descrizione del gruppo e della posizione	Il Gruppo offre una vasta gamma di servizi di consulenza e soluzioni finanziarie su misura destinate a clienti privati, grandi aziende e investitori istituzionali. Il Gruppo si basa su tre attività core complementari:

	dell'emittente all'interno del gruppo	• attività di Retail Banking in Francia; • International Retail Banking, Financial Services and Insurance; e • Corporate and Investment Banking, Private Banking, Asset and Wealth Management e Securities Services. L’Emittente è una controllata del Gruppo Société Générale e non ha alcuna società controllata.
B.9	Previsioni o stime relative agli utili dell'emittente	Non Applicabile. L’Emittente non effettua alcuna previsione o stima in relazione agli utili.
B.10	Natura di eventuali riserve espresse nella relazione della società di revisione in merito ai dati storico- finanziari	Non Applicabile. La relazione della società di revisione non contiene alcuna riserva.
B.12	Principali dati storico- finanziari selezionati relativi all'emittente
	Nessun cambiamento sostanzialme nte pregiudizievol e delle prospettive dell'emittente dalla data di pubblicazione dell'ultimo bilancio certificato	Non si è verificato alcun cambiamento negativo rilevante nelle prospettive dell'Emittente successivamente alla data del 31 dicembre 2014.

(in migliaia di EUR)	Esercizio 2014 (certificato)	Esercizio 2013 (certificato)
Ricavi di esercizio	110.027	109.588
Utile di gestione	209	482
Utile da operatività corrente	209	482
Totale attivo	23.567.256	21.349.619


	Cambiamenti significativi relativi alla situazione finanziaria o commerciale dell’emittente successivi al periodo cui si riferiscono i dati storico- finanziari	Non applicabile. Non si è verificato alcun cambiamento rilevante nella posizione finanziaria o di negoziazione dell'Emittente successivamente alla data del 31 dicembre 2014.
B.13	Eventi recenti relativi all'emittente che rilevano, in misura sostanziale, ai fini della valutazione della solvibilità dell'emittente	Non Applicabile. Non si sono verificati eventi recenti relativi all'Emittente che rilevano, in misura sostanziale, ai fini della valutazione della solvibilità dell’Emittente.
B.14	Dichiarazione in ordine alla dipendenza dell'emittente da altre entità del gruppo	Per le informazioni sulla posizione dell’Emittente all'interno del Gruppo si rimanda all'Elemento B.5 che precede. All'interno del Gruppo, SG Issuer fa capo a Société Générale Bank & Trust.
B.15	Descrizioni delle attività principali dell'emittente	L’ attività principale di SG Issuer èrappresentata dalla raccolta di fondi tramite l'emissione di titoli di debito destinati al collocamento presso clienti istituzionali o retail tramite collocatori associati a Société Générale. I fondi derivanti all'emissione di tali titoli di debito vengono quindi concessi in prestito a Société Générale ed altri membri del Gruppo.
B.16	Per quanto a conoscenza dell'emittente, soggetto da cui l'emittente è controllato o partecipato, direttamente o indirettament e, e descrizione della natura di tale controllo	SG Issuer è una società controllata al 100 percento da Société Générale Bank & Trust S.A., che è a sua volta un'entità interamente controllata da Société Générale e interamente consolidata.


B.17	Valutazioni del merito di credito attribuite all’emittente o ai titoli di debito	Non Applicabile. L’Emittente non è oggetto di valutazione del merito di credito. Non Applicabile. Le Notes non sono oggetto di valutazione del merito di credito.
B.18	Natura e ambito della garanzia	Le Notes sono garantite incondizionatamente e irrevocabilmente da Société Générale (il Garante) ai sensi della Garanzia datata 28 ottobre 2014. La Garanzia costituisce un'obbligazione diretta, incondizionata, non garantita e generale del Garante, ed è e sarà pari passu rispetto a tutte le altre obbligazioni, esistenti e future, dirette, incondizionate, non garantite e generali del Garante, ivi comprese quelle relative ai depositi.
B.19	Informazioni	Le informazioni in merito a Société Générale come se questa fosse l'emittente del
	relative al	medesimo tipo dle Notes oggetto della Garanzia sono di seguito riportate,
	garante come	rispettivamente, in conformità a quanto previsto rispettivamente agli Elementi B.19 / B.1,
	se questi fosse	B.19 / B.2, B.19 / B.4b, B.19 / B.5, B.19 / B.9, B.19 / B.10, B.19 / B.12, B.19 / B.13, B.19 /
	l'emittente del	B.14, B.19 / B.15, B.19 / B.16 e B.19/B.17 di seguito rispettivamente:
	medesimo tipo
	di titoli oggetto della garanzia	B.19/ B.1: Société Générale B.19/ B.2: Sede legale: 00, xxxxxxxxx Xxxxxxxxx, 00000 Xxxxxx, Xxxxxxx.
		Forma giuridica: Società per azioni a responsabilità limitata (société anonyme).
		Legislazione di riferimento dell'Emittente: diritto francese.
		Paese di costituzione: Francia.
		B.19/ B.4b: Il 2014 è stato un altro anno difficile per l'economia, con le attività a livello globale che hanno fatto registrare solo una crescita moderata, diversa da regione a regione. Tale tendenza continuerà probabilmente anche nel 2015, anno che si sta preparando a offrire una ripresa a livello globale inferiore alle attese, tra mille incertezze sia di natura geopolitica che in termini di mercati delle materie prime e dei cambi.
		La zona Euro sta faticando a ritornare a una crescita più dinamica, rallentando così la riduzione del disavanzo pubblico. I tassi di interesse dovrebbero rimanere ai livelli minimi, ma il rischio di deflazione dovrebbe essere tenuto sotto controllo grazie all'intervento della BCE che ha annunciato l'adozione di una politica monetaria più accomodante e l'utilizzo del proprio bilancio per sostenere la crescita. Il deprezzamento dell'Euro e il calo dei prezzi del petrolio dovrebbero contribuire a migliorare le esportazioni e a stimolare la domanda interna. L'economia USA dovrebbe continuare a rimanere positiva e si prevede che la Fed avvierà le proprie attività di stretta monetaria verso metà anno. I paesi emergenti stanno vivendo una fase di crescita più moderata, specialmente per quanto riguarda la Cina. L'economia russa si trova ad affrontare le conseguenze della crisi in Ucraina e del crollo dei prezzi delle materie prime.
		Dal punto di vita normativo, il 2014 ha visto l'implementazione della Unione Bancaria. La Banca Centrale Europea ha assunto la guida del Sistema Unico di Vigilanza, controllando circa 130 banche della zona Euro, allo scopo di rafforzare il sistema bancario, ripristinare la fiducia degli operatori economici, armonizzare le norme di vigilanza bancaria e ridurre il collegamento tra banche e rispettive autorità nazionali.
		In termini di coefficienti normativi, il Gruppo è già in grado di soddisfare i nuovi requisiti.
		B.19/ B.5:
		Il Gruppo offre una vasta gamma di servizi di consulenza e soluzioni finanziarie su misura

destinate a clienti privati, grandi aziende e investitori istituzionali. Il Gruppo si basa su tre attività core complementari: • attività di Retail Banking in Francia; • International Retail Banking, Financial Services and Insurance; e • Corporate and Investment Banking, Private Banking, Asset and Wealth Management e Securities Services. Société Générale è la capogruppo del Gruppo Société Générale. B.19/ B.9: Non Applicabile. L’Emittente non effettua alcuna previsione o stima in relazione agli utili. B.19/B.10: Non Applicabile. La relazione della società di revisione non contiene alcuna riserva. B.19/B.12:
			1	Esercizi	1	Esercizio
			Trimestr	o 2014	Trimes	2013
			e – 2015	(certifica	tre –	(certificat
			(non	to, salvo	2014	o) (1)
			certificat	quanto	(non
			o)	altriment	certific
				i	ato)
				riportato
				(*))
	Risultati (in milioni
	di EUR)
			6,353		5,656	22,433
	Risultato netto delle attività bancarie			23,561	(*)
			1,298		916 (*)	2,336
	Reddito Operativo			4,557 (*)
			962
	Risultato	netto
	prima partecipazioni	delle di		2, 978 (*)	239 (*)	2,394
	minoranza
			868		169 (*)	2,044
	Risultato netto			2, 679 (*)
			273		291 (*)	1,196
	Retail Banking in			1, 204
	Francia,			(*)
			139
	International Retail Banking & Financial Services			370 (*)	(343) (*)	983
			522
	Global Banking and			1, 909 (*)	430 (*)	1,206
	Investor Solutions


		(66)		(209)	(1,341)
	Corporate Centre		(804) (*)	(*)
		(613)		(667)	(4,050)
	Costo netto del rischio		(2, 967)	(*)
	Costo / profitto	70%	68% (*)	72% (*)	67.0%
	rapporto (2)		68% (*)
	ROE netto delle	6.9%	5.3%	0.8%	4.1%
	tasse (3)		5.3%	(*)
	Tier 1 Ratio	12.4%	12.6%	11.8%	11.8%
	Attivo (in miliardi di
	EUR)
		1,428.8	1,308.2	1,265.8	1,214.2
	Totale attivo e
	passivo
		346.9	344.4	318.6	332.7
	Finanziamenti a
	clienti
		340.5	349.7	315.8	334.2
	Depositi clienti
	Patrimonio Netto (in
	miliardi di EUR)
		57.2	55.2	51.1	50.9
	Patrimonio netto del
	Gruppo
		61.0	58.8	54.1	54.0
	Totale patrimonio
	netto consolidato
	Prospetto dei
	Flussi di Cassa (in
	miliardi di EUR)
		NC	(10,183)	NC	(981)
	Flussi di cassa e
	mezzi equivalenti in
	entrata/(in uscita)
(1) (1) Le voci relative ai risultati per il 2013 sono stati riformulati in seguito all’implementazione di IFRS 10 e 11. (2) escludendo la rivalutazione delle proprie passività finanziarie e DVA

(3) Gruppo ROE calcolato sulla base della media patrimonio netto di Gruppo in base agli IFRS (incluso IAS 32-39 e IFRS 4), escluse le minusvalenze non realizzate e le plusvalenze, ad eccezione per le riserve di traduzione, note profondamente subordinate, obbligazioni subordinate non datati e dopo deduzione di interessi passivi per i titolari di queste note.

Dalla data del 31 dicembre 2014non si è verificato alcun cambiamento sostanzialmente pregiudizievole in relazione alle prospettive dell’Emittente.

Non Applicabile. Successivamente al 31 marzo 2015 non si è verificato alcun cambiamento rilevante in relazione alla situazione finanziaria o commerciale dell’Emittente.

B.19/B.13:

Non Applicabile. Non si sono verificati eventi recenti relativi all’Emittente che rilevano, in misura sostanziale, ai fini della valutazione della solvibilità dell’Emittente.

B.19/ B.14:

Per le informazioni sulla posizione dell’Emittente all'interno del Gruppo si rimanda all'Elemento B.5 che precede.

B.19/ B.15:

Si rimanda all'Elemento B.19/B.5 che precede.

B.19/ B.16:

Non Applicabile. Per quanto a sua conoscenza, Société Générale non è controllata né partecipata, direttamente o indirettamente (ai sensi delle leggi francesi), da alcun'altra entità.

B.19/B.17

A Société Générale sono attribuiti i seguenti ratings AA (low) da DBRS, A da Fitch Ratings, A2 da Moody’s Investors Services e A da Standard and Poor’s.

Sezione C – Strumenti finanziari

C.1

Tipologia e classe dei titoli oggetto dell'offerta e/o ammessi alle contrattazioni

, ivi compresi i rispettivi codici

identificativi

Le Notes sono strumenti titoli di debito.

Codice ISIN: XS1202764681

Codice Common: 120276468

C.2

Valuta dei titoli oggetto

Valuta: Rupia Indiana (INR) Valuta di regolamento: EUR

	di emissione
C.5	Descrizione di eventuali limitazioni alla libera trasferibilità dei titoli	Non sussiste alcuna limitazione alla libera trasferibilità delle Notes, ferme restando le restrizioni di vendita e trasferimento eventualmente in vigore in talune giurisdizioni.
C.8	Diritti connessi ai titoli, tra cui i relativi limiti e priorità, e le procedure per il relativo esercizio	Diritti connessi ai titoli: Le Notes, salvo ove rimborsati in anticipo, daranno diritto a ciascun titolare delle Notes (un Titolare delle Notes) a ricevere un rendimento potenziale sule Notes stessi un ammontare di rimborso che potrebbe risultare inferiore, uguale o maggiore rispetto all'importo inizialmente investito (si rimanda all'Elemento C.18). Il Titolare delle Notes avrà diritto a pretendere l'immediato pagamento di qualunque importo nel caso in cui:
		- l'Emittente non paghi o non rispetti gli altri obblighi ai sensi delle Notes
		- il Garante non adempia ai propri obblighi ai sensi della Garanzia o la garanzia di Société Générale non sia più valida;
		- risultino pendenti procedimenti di insolvenza o fallimento nei confronti dell'Emittente.
		La modifica dei termini contrattuali delle Notes richiede necessariamente il consenso dei Titolari delle Notes ai sensi delle disposizioni di un accordo di agenzia, reso disponibile ai Titolari delle Notes su richiesta dell'Emittente.
		- L'Emittente accetta la competenza esclusiva dei tribunali inglesi in favore dei Titolari delle Notes in relazione a qualunque controversia nei confronti dell'Emittente, e che tali Titolari delle Notes possano promuovere un'azione legale innanzi a qualunque altro tribunale competente.
		Priorità
		Le Notes sono obbligazioni dirette, incondizionate, non garantite e non subordinate dell'Emittente e saranno pari passu rispetto a tutte le altre obbligazioni dirette, incondizionate, non garantite e non subordinate dell'Emittente, presenti e future, in circolazione.
		Limiti ai diritti connessi ai titoli:
		- l’Emittente può rimborsare le Notes anticipatamente sulla base della Denominazione Specificata per ragioni fiscali o regolamentari.
		- i diritti al pagamento di capitale e interessi si prescriveranno entro un periodo di dieci anni (per quanto riguarda il capitale) e cinque anni (per quanto riguarda gli interessi) a decorrere dalla data in cui il pagamento di detti importi è divenuto per la prima volta esigibile e non sia stato onorato.
		- in caso di mancato pagamento da parte dell'Emittente, i Titolari delle Notes non avranno il diritto di intraprendere alcuna iniziativa né alcun procedimento volti ad ottenere lo scioglimento, l'amministrazione o la liquidazione (o analogo procedimento) dell'Emittente. Ciononostante, i Xxxxxxxx delle Notes continueranno ad avere il diritto di pretendere dal Garante il pagamento di qualunque importo non ancora pagato.
		Tassazione
		Tutti i pagamenti relativi ale Notes, alle Ricevute e alle Cedole o previsti ai sensi della Garanzia saranno effettuati senza ritenute o detrazioni in relazione a o in acconto a fronte di alcuna tassa, imposta, accertamento od onere governativo di qualunque

		natura imposti, esatti, riscossi, trattenuti o accertati, al presente o in futuro, da o per conto di qualunque Autorità Fiscale, salvo ove tale ritenuta o detrazione sia richiesta a norma di legge. Nel caso in cui sia necessario detrarre o trattenere qualunque importo in relazione a o per conto di qualunque Autorità Fiscale, il relativo Emittente o, a seconda dei casi, il Garante provvederà (salvo che in determinate circostanze), nella misura massima consentita dalla legge, a versare tale importo aggiuntivo ove necessario, in modo che ciascun Titolare delle Notes, Titolare delle Ricevute o Titolare delle Cedole percepisca, dopo la detrazione o ritenuta a fronte di tali tasse, imposte, accertamenti od oneri governativi, l'intero importo in quel momento dovuto ed esigibile. Legge applicabile Le Notes e qualsiasi altro obbligo extracontrattuale derivante da o relativo ale Notes saranno disciplinati da e interpretati in conformità al diritto inglese.
C.9	Diritti relativi	Si veda l’Elemento C.8 che precede.
	ai titoli,
	inclusi il grado di	Denominazione Specificata: INR 70.000
	priorità e le
	limitazioni di	Interessi:
	tali diritti e le	Salvo che siano rimborsate in precedenza, gli interessi sulle Notes saranno applicati
	procedure per	come segue:
	l’esercizio dei
	diritti: interesse, rendimento,
	diritti: interesse, rendimento,		Data di avvio di maturazione degli interessi:	27/04/2015
	rimborso e		(GG/MM/AAAA)
	rimborso e
	rappresentant		Tasso(i) di interesse:	5% per anno da corrispondersi su base
	e dei Titolari			annua in via posticipata
	delle Notes
	delle Notes		Periodo(i) Specificato(i) / Data(e) di	27/04/2016; 27/04/2017
			Pagamento Interessi(i)
			Importo della Cedola Fissa	Salvo che siano rimborsate in anticipo,
				in ciascuna Data di Pagamento
				Interessi, l’Emittente pagherà ai Titolari
				delle Notes, per ciascuna Note, un
				importo determinato dall’Agente di
				Calcolo come segue:
				Tasso di Interesse x Denominazione
				Specificata x Frazione Giorni di Calcolo
				Con Frazione Giorni di Calcolo:
				Actual/Actual (ICMA)
			Date di Determinazione:	27 aprile di ciascun anno
			Rimborso:
			Importo di Rimborso Finale:	Salvo ove rimborsati in anticipo, l’Emittente rimborserà le Notes alla Data di Scadenza, nel rispetto delle seguenti previsioni in relazione a ciascuna Note:
				Importo di Rimborso Finale =
				Denominazione Specificata x 100%


			Data di Scadenza:	27/04/2017
			(GG/MM/AAAA)
			Rendimento:	4,9930%
			Rappresentante dei Titolari delle	Non Applicabile. Essendo le Notes
			Notes:	regolate dal diritto inglese, il
				Rappresentante dei Titolari delle Notes
				non è previsto.
C.10	Descrizione chiara e completa al fine di aiutare l’investitore a comprendere come il valore dell’investimen to dipende dal valore degli strumenti sottostanti, in particolare nei casi in cui i rischi sono più evidenti	Non Applicabile. Il pagamento degli interessi non è legato ad una componente derivativa.
C.11	Se i titoli offerti sono o saranno oggetto di una domanda di ammissione alla negoziazione ai fini di ottenerne la distribuzione su un mercato regolamentato o in altri mercati equivalenti, con indicazione dei mercati in questione	Sarà presentata domanda di ammissione alla negoziazione delle Notes sul mercato regolamentato “DomesticMOT” organizzato e gestito da Borsa Italiana S.p.A..

Sezione D – Xxxxxx

D.2

Principali informazioni relative ai principali rischi specifici dell'emittente e del garante

Il Gruppo è esposto ai rischi intrinseci della propria attività principale.

Rischio di credito e di controparte (ivi compreso il rischio paese):

rischio di perdite generate dall'incapacità dei clienti, emittenti o altre controparti del Gruppo di adempiere ai propri impegni finanziari. Il rischio di credito comprende il rischio di controparte collegato alle operazioni di mercato (rischio di sostituzione) oltre alle attività di cartolarizzazione.

Rischi operativi: rischio di perdite o sanzioni a seguito di inadeguatezze o mancanze riscontrate nelle procedure o nei sistemi interni, errori umani

o eventi esterni;

Rischio strutturale di tasso di interesse e di cambio: rischio di perdite

o deprezzamenti dell'attivo del Gruppo a seguito di variazioni dei tassi di interesse o dei cambi.

Rischio liquidità: rischio che il Gruppo non sia in grado di soddisfare, al loro manifestarsi, le proprie esigenze di liquidità o di garanzia a costi ragionevoli.

fornitura di strumenti di copertura compente a divisioni differenti, ognuna

gestita come unità operativa distinta, segregata da barriere informative (i cosiddetti Chinese Walls) e gestita da team diversi.

sul prezzo di mercato, sulla liquidità o sul valore delle Notes.

D.3

Principali informazioni relative ai principali rischi specifici dei titoli

L’investimento in Notes a Tasso fisso comporta rischi correlati alle oscillazioni dei tassi di mercato che potrebbero avere un effetto negativo sul valore di tali Notes.

capitale investito.

Sezione E – Offerta

E.2b

Motivi dell'offerta e utilizzo dei proventi

I proventi netti di ciascuna emissione delle Notes saranno utilizzati ai fini

del finanziamento generico del Gruppo Société Générale, ivi compreso ai fini del perseguimento del profitto.

E.3

Descrizione dei termini e delle condizioni dell'offerta

Non Applicabile. Le Notes non sono oggetto di offerta al pubblico nell’Area Economica Europea.

E.4

Descrizione di qualunque interesse rilevante ai fini dell'emissione/offerta, ivi compresi i conflitti di interesse

Fatte salve le eventuali commissioni spettanti al Dealer, per quanto a conoscenza dell'Emittente nessuno dei soggetti coinvolti nell'emissione delle Notes ha un interesse rilevante nell'offerta.

E.7

Stima dei costi

Non Applicabile. All'investitore non sarà addebitato alcun costo da parte

addebitati all'investitore dall'Emittente o

dall'offerente

dell'Emittente.

Amended as of 16/06/2015 (The initial Date of these Final Terms is 23/04/2015)

SG Issuer

Issue of TRY 90 000 000 Notes due 27/04/2017 Unconditionally and irrevocably guaranteed by Société Générale

under the

Debt Instruments Issuance Programme PART A – CONTRACTUAL TERMS

1. (i) Series Number: 71971EN/15.4

(ii) Tranche Number: 1

(iii) Date on which the Notes become

fungible: Not Applicable

2. Specified Currency: TRY

3. Aggregate Nominal Amount:

(i) - Tranche: TRY 90 000 000

(ii) - Series: TRY 90 000 000

4. Issue Price: 100% of the Aggregate Nominal Amount

5. Specified Denomination: TRY 3 000

6. (i) Issue Date:

(DD/MM/YYYY) 27/04/2015

(ii) Interest Commencement

Date: 27/04/2015

	(DD/MM/YYYY)
7.	Maturity Date:
	(DD/MM/YYYY)	27/04/2017
8.	Governing law:	English law
9. (i)	Status of the Notes:	Unsecured
(ii)	Date of corporate authorisation
	obtained for the issuance of Notes:	Not Applicable
(iii)	Type of Structured Notes:	Not Applicable
(iv)	Reference of the Product:	Not Applicable
10.	Interest Basis:	See section “PROVISIONS RELATING	TO
		INTEREST (IF ANY) PAYABLE” below.
11.	Redemption/Payment Basis:	See section “PROVISIONS RELATING	TO
		REDEMPTION” below.
12.	Issuer’s/Noteholders’ redemption option:	See section “PROVISIONS RELATING REDEMPTION” below.	TO
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
13.		Fixed Rate Note Provisions:	Applicable as per Condition 3.1 of the General
			Terms and Conditions
	(i)	Rate(s) of Interest:	8.50% per annum payable annually in arrear
	(ii)	Specified Period(s) / Interest
		Payment Date(s):
		(DD/MM/YYYY)	27/04/2016 ; 27/04/2017
	(iii)	Business Day Convention:	Following Business Day Convention (unadjusted)
	(iv)	Fixed Coupon Amount:	Unless previously redeemed, on each Interest
			Payment Date, the Issuer shall pay to the
			Noteholders, for each Note, an amount
			determined by the Calculation Agent as follows:
			Rate of Interest x Specified Denomination x Day
			Count Fraction
	(v)	Day Count Fraction:	Actual/Actual (ICMA)
	(vi)	Broken Amount(s):	In case of a long or short Interest Period (with
			regard to paragraph 13(ii) “Specified
			Period(s)/Interest Payment Date(s)" above), the
			amount of interest will be calculated in
			accordance with the formula specified in
			paragraph 13(iv) “Fixed Coupon Amount” above.
	(vii)	Determination Date(s):	27 April in each year

14. Floating Rate Note Provisions: Not Applicable

15. Structured Interest Note

Provisions: Not Applicable

16. Zero Coupon Note Provisions: Not Applicable

PROVISIONS RELATING TO REDEMPTION

17. Redemption at the option of the

Issuer: Not Applicable

18. Redemption at the option of the

Noteholders: Not Applicable

19. Automatic Early Redemption: Not Applicable

20. Final Redemption Amount: Unless previously redeemed, the Issuer shall redeem

the Notes on the Maturity Date, in accordance with the following provisions in respect of each Note:

Final Redemption Amount = Specified Denomination x 100%

21. Physical Delivery Note Provisions: Not Applicable

22. Credit Linked Notes Provisions: Not Applicable

23. Bond Linked Notes Provisions: Not Applicable

24. Trigger redemption at the option of

the Issuer: Not Applicable

25. Early Redemption Amount payable on Event of Default or, at the option of the Issuer, on redemption

for taxation or regulatory reasons: 100% of Specified Denomination per Note

PROVISIONS APPLICABLE TO THE UNDERLYING(S) IF ANY

26.

(i)

Underlying(s):

Not Applicable

(ii)

Information relating to the past and future performances of the Underlying(s) and volatility:

Not Applicable

(iii)

Provisions relating, amongst others, to the Market Disruption Event(s) and/or Extraordinary Event(s) and/or Monetisation until the Maturity Date and/or any additional disruption event(s) as described in the relevant Additional Terms and Conditions

for Structured Notes:

Not Applicable

(iv) Other information relating to

the Underlying(s): Not Applicable

DEFINITIONS APPLICABLE TO INTEREST (IF ANY), REDEMPTION AND THE UNDERLYING(S) IF ANY

27.	(i)	Definitions relating to date(s):	Not Applicable
	(ii)	Definitions relating to the Product:	Not Applicable

- 3 -

PROVISIONS RELATING TO SECURED NOTES

28. Secured Notes Provisions: Not Applicable

GENERAL PROVISIONS APPLICABLE TO THE NOTES

29.		Provisions applicable to payment date(s): - Payment Business Day:	Following Payment Business Day
		- Financial Centre(s):	TARGET2
30.		Form of the Notes:
	(i)	Form:	Non-US Registered Global Note registered in the name of a nominee for a common depositary for Euroclear and Clearstream, Luxembourg
	(ii)	New Global Note (NGN – bearer notes) / New Safekeeping Structure (NSS – registered notes):	No
31.		Redenomination:	Not Applicable
32.		Consolidation:	Applicable as per Condition 14.2 of the General Terms and Conditions
33.		Partly Paid Notes Provisions:	Not Applicable
34.		Instalment Notes Provisions:	Not Applicable
35.		Masse:	Not Applicable
36.		Dual Currency Note Provisions:	Applicable as per Condition 4.14 of General Terms and Conditions
	(i)	Settlement Currency	EUR
	(ii)	Dual Currency Exchange Rate	EUR/TRY
			The Notes are denominated in TRY but all the payments in respect of the Notes shall be made in EUR
	(iii)	Method of calculating the fixing of Dual Currency Exchange Rate	Screen Rate Determination
		- Dual Currency Valuation Date:	In respect of the Issue Date: Valuation Date(0) is 3 Business Days before Issue Date
			In respect of each Interest Payment Date(i) (i from 1 to 2): Valuation Date(i)
			In respect of the Maturity Date: Valuation Date(2)
			Valuation Date(i) (i from 1 to 2) is 3 Business Days before the relevant Interest Payment Date(i)
		- Dual Currency Valuation Time:	14:15 Frankfurt time
		- Relevant Screen Page:	Reuters page ECB37
37.		Additional Amount Provisions for Italian Certificates:	Not Applicable

38. Interest Amount and/or the Redemption Amount switch at the

option of the Issuer: Not Applicable

PART B – OTHER INFORMATION

1. LISTING AND ADMISSION TO TRADING

(i) Listing: Application will be made for the Notes to be listed on “DomesticMOT”, a regulated market organized and managed by Borsa Italiana S.p.A.

(ii) Admission to trading: Application will be made for the Notes to be admitted to

trading on “DomesticMOT”, a regulated market organized and managed by Borsa Italiana S.p.A.” with effect from or as soon as practicable after the Issue Date.

There can be no assurance that the listing and trading of the Notes will be approved with effect on the Issue Date or at all.

(iii) Estimate of total expenses related to admission to

trading: Not Applicable

(iv) Information required for Notes to be listed on SIX

Swiss Exchange: Not Applicable

2. RATINGS

The Notes to be issued have not been rated.

3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER

Save for fees, if any, payable to the Dealer, and so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer.

4. REASONS FOR THE OFFER AND USE OF PROCEEDS, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

(i) Reasons for the offer and use of proceeds:

The net proceeds from each issue of Notes will be applied for the general financing purposes of the Société Générale Group, which include making a profit.

(ii) Estimated net proceeds: Not Applicable

(iii) Estimated total expenses: Not Applicable

5. INDICATION OF YIELD (Fixed Rate Notes only)

8.4880%

6. HISTORIC INTEREST RATES (Floating Rate Notes only)

Not Applicable

7. PERFORMANCE AND EFFECT ON VALUE OF INVESTMENT

(i) PERFORMANCE OF FORMULA, EXPLANATION OF EFFECT ON VALUE OF INVESTMENT (Structured Notes only)

Investment in Notes including fixed interest rate involves risks linked to the fluctuation of the market rates which could have negative effect on the value of these Notes.

During the lifetime of the Notes, the market value of these Notes may be lower than the invested capital.

Furthermore, an insolvency of the Issuer and/or the Guarantor may cause a total loss of the invested capital.

The attention of the investors is drawn to the fact that they could sustain an entire or a partial loss of their investment.

(ii) PERFORMANCE OF RATE[S] OF EXCHANGE AND EXPLANATION OF EFFECT ON VALUE OF INVESTMENT (Dual Currency Notes only)

The attention of the investors is drawn to the fact that they could sustain an entire or a partial loss of their investment.

8. OPERATIONAL INFORMATION

(i) Security identification code(s):

- ISIN Code: XS1202763360

- Common Code: 120276336

(ii) Clearing System(s): Euroclear Bank S.A/N.V. (Euroclear) / Clearstream

Banking société anonyme (Clearstream, Luxembourg) and Monte Titoli S.p.A (Monte Titoli)

	(iii)	Delivery:	Delivery against payment
	(iv)	Calculation Agent:	Société Générale
			Tour Société Générale
			17 Cours Valmy
			00000 Xxxxx Xx Xxxxxxx Xxxxx
			Xxxxxx
	(v)	Paying Agent(s):	Société Générale Bank&Trust
			00, xxxxxx Xxxxx Xxxxxx
			0000 Xxxxxxxxxx
			Xxxxxxxxxx
			And
			Société Générale Securities Services S.p.A.
			Xxx Xxxxxxx Xxxxxx, 00/x
			00000 Xxxxxx
			Xxxxx
	(xx)	Eurosystem eligibility of
		the Notes:	No
	(vii)	Address and contact details of Société Générale for all administrative communications relating to the Notes:	Société Générale Tour Société Générale 00 Xxxxx Xxxxx 00000 Xxxxx Xx Xxxxxxx Xxxxx Xxxxxx
			Name: Sales Support Services - Derivatives
			Tel: x00 0 00 00 00 00 (Hotline)
			Email: xxxxxxxxxxxxx-xxxx@xxxxx.xxx
9.		DISTRIBUTION

(i) Method of distribution: Non-syndicated

- Dealer(s): Société Générale Tour Société Générale 17 Cours Valmy

00000 Xxxxx Xx Xxxxxxx Xxxxx Xxxxxx

(ii) Total commission and concession:

There is no commission and/or concession paid by the Issuer to the Dealer or the Managers.

(iii) TEFRA rules: Not Applicable

(iv) Permanently Restricted

Notes: Yes

(v) Non-exempt Offer: Not Applicable

10. PUBLIC OFFERS IN EUROPEAN ECONOMIC AREA

Not Applicable

11. ADDITIONAL INFORMATION

- Minimum Investment in

the Notes: TRY 3 000 (i.e. 1 Note)

- Minimum Trading: TRY 3 000 (i.e. 1 Note)

12. PUBLIC OFFERS IN OR FROM SWITZERLAND

Not Applicable

ISSUE SPECIFIC SUMMARY

Section A – Introduction and warnings

A.1

Warning

This summary must be read as an introduction to the Base Prospectus.

Any decision to invest in the Notes should be based on a consideration of the Base Prospectus.

A.2

Consent to the use of the Base Prospectus

Not Applicable. The Notes are not subject to a Public Offer in the European Economic Area.

Section B – Issuer and Guarantor
B.1	Legal and commercial name of the issuer	SG Issuer (or the Issuer)
B.2	Domicile, legal form, legislation and country of incorporation	Domicile: 00, xxxxxxxxx Xxxxxx Xxxxx, X-0000 Xxxxxxxxxx, Xxxxxxxxxx. Legal form: Public limited liability company (société anonyme). Legislation under which the Issuer operates: Luxembourg law. Country of incorporation: Luxembourg.
B.4b	Known trends affecting the issuer and the industries in which it operates	The Issuer expects to continue its activity in accordance with its corporate objects over the course of 2015.
B.5	Description of the Issuer’s group and the issuer’s position within the group	The Group offers a wide range of advisory services and tailored financial solutions to individual customers, large corporate and institutional investors. The Group relies on three complementary core businesses: • French Retail Banking; • International Retail Banking, Financial Services and Insurance and • Corporate and Investment Banking, Private Banking, Asset and Wealth Management and Securities Services. The Issuer is a subsidiary of the Société Générale Group and has no subsidiaries.
B.9	Figure of profit forecast or estimate of the issuer	Not applicable. The Issuer does not make any figure of profit forecast or estimate.
B.10	Nature of any qualifications in the audit report on the historical financial	Not applicable. The audit reports do not include any qualification.

	information
B.12	Selected historical key financial information regarding the issuer
	No Material adverse change in the prospects of the issuer since the date of its last published audited financial statements	There has been no material adverse change in the prospects of the Issuer since 31 December 2014.
	Significant changes in the financial or trading position subsequent to the period covered by the historical financial information	Not Applicable. There has been no significant change in the Issuer’s financial or trading position of the Issuer since 31 December 2014.
B.13	Recent events particular to the issuer which are to a material extent relevant to the evaluation of the Issuer’s solvency	Not Applicable. There has been no recent event particular to the Issuer which is to a material extent relevant to the evaluation of the Issuer’s solvency.
B.14	Statement as to whether the issuer is dependent upon other entities within the group	See Element B.5 above for the Issuers' position within the Group. SG Issuer is dependent upon Société Générale Bank & Trust within the Group.
B.15	Description of the issuer’s principal activities	The principal activity of SG Issuer is raising finance by the issuance of debt securities designed to be placed to institutional customers or retail customers through the distributors associated with Société Générale. The financing obtained through the issuance of such debt securities is then lent to Société Générale and to other members of the Group.
B.16	To the extent known to the issuer, whether the issuer is directly or indirectly owned or controlled and by whom, and nature of such control	SG Issuer is a 100 per cent. owned subsidiary of Société Générale Bank & Trust S.A. which is itself a 100 per cent. owned subsidiary of Société Générale and is a fully consolidated company.

(in K€)	December 31, 2014 (audited)	December 31, 2013 (audited)
Operating Revenues	110.027	109.588
Profit from operations	209	482
Profit from continuing operations	209	482
Total Assets	23.567.256	21.349.619

B.17	Credit ratings assigned to the issuer or its debt securities	Not Applicable. The Issuer is not rated. Not Applicable. The Notes to be issued have not been rated.
B.18	Nature and scope of the guarantee	The Notes are unconditionally and irrevocably guaranteed by Société Générale (the Guarantor) pursuant to the Guarantee dated 28 October 2014. The Guarantee constitutes a direct, unconditional, unsecured and general obligation of the Guarantor and ranks and will rank pari passu with all other existing and future direct, unconditional, unsecured and general obligations of the Guarantor, including those in respect of deposits.
B.19	Information about	The information about Société Générale as if it were the Issuer of the same
	the guarantor as if	type of Notes that is subject of the Guarantee is set out in accordance with
	it were the issuer	Elements B.19 / B.1, B.19 / B.2, B.19 / B.4b, B.19 / B.5, B.19 / B.9, B.19 /
	of the same type of	B.10, B.19 / B.12, B.19 / B.13, B.19 / B.14, B.19 / B.15, B.19 / B.16 and B.19 /
	security that is	B.17 below, respectively:
	subject of the
	guarantee	B.19/ B.1: Société Générale
		B.19/ B.2: Domicile: 00, xxxxxxxxx Xxxxxxxxx, 00000 Xxxxx, Xxxxxx. Legal
		form: Public limited liability company (société anonyme). Legislation under
		which the Issuer operates: French law. Country of incorporation: France.
		B.19/ B.4b:
		2014 was another challenging year for the economy, with global activity
		posting only moderate growth that varied by region. This trend is expected to
		carry over into 2015, which is shaping up to deliver a weaker-than-expected
		global economic recovery amid myriad uncertainties both on the geopolitical
		front and on the commodity and forex markets.
		The euro zone is struggling to return to more dynamic growth, thus slowing the
		reduction of public deficits. Interest rates should remain at record lows, but the
		deflationary risk should be kept under control by the intervention of the ECB
		which has announced the implementation of a more accommodative monetary
		policy and the use of its balance sheet to support growth. The depreciation of
		the euro and falling oil prices should help boost exports and stimulate domestic
		demand. The US economy should stay on a positive track and the Fed is
		expected to begin tightening its monetary policy mid-year. Emerging countries
		have entered a phase of more moderate growth, in particular China. Russia’s
		economy is struggling with the consequences of the Ukrainian crisis coupled
		with the drop in commodity prices.
		From a regulatory standpoint, 2014 saw the implementation of the Banking
		Union. The European Central Bank took the helm of the Single Supervisory
		Mechanism, overseeing some 130 euro zone banks, with the aim of
		strengthening the banking system, restoring the confidence of economic
		operators, harmonising banking supervision rules and reducing the link
		between banks and their national authorities.
		In terms of regulatory ratios, the Group can already meet the new
		requirements.
		B.19/ B.5:
		The Group offers a wide range of advisory services and tailored financial
		solutions to individual customers, large corporate and institutional investors.
		The Group relies on three complementary core businesses:
		• French Retail Banking;
		• International Retail Banking, Financial Services and Insurance and
		• Corporate and Investment Banking, Private Banking, Asset and Wealth
		Management and Securities Services.
		Société Générale is the parent company of the Société Générale Group.
		B.19/ B.9: Not Applicable. The Issuer does not make any figure of profit
		forecast or estimate.
		B.19/B.10:
		Not applicable. The audit report does not include any qualification.
		B.19/B.12:

Quarter	Year ended	Quarter	Year
1-	2014	1-	ended
2015	(audited,	2014	2013

	(non audited)	except as mentionned otherwise (*))	(non audited)	(audited) (1)
Results (in EUR M)
Net Banking Income	6,353	23,561	5,656 (*)	22,433
Operating Income	1,298	4,557 (*)	916 (*)	2,336
Net income before non controlling interests	962	2, 978 (*)	239 (*)	2,394
Net income	868	2, 679 (*)	169 (*)	2,044
French Retail Banking	273	1, 204 (*)	291 (*)	1,196
International Retail Banking & Financial Services	139	370 (*)	(343) (*)	983
Global Banking and Investor Solutions	522	1, 909 (*)	430 (*)	1,206
Corporate Centre	(66)	(804) (*)	(209) (*)	(1,341)
Net cost of Risk	(613)	(2, 967)	(667) (*)	(4,050)
Cost / income ratio (2)	70%	68% (*)	72% (*)	67.0%
ROE after tax (3)	6.9%	5.3%	0.8% (*)	4.1%
Tier 1 Ratio	12.4%	12.6%	11.8%	11.8%
Activity (in EUR bn)
Total assets and liabilities	1,428.8	1,308.2	1,265.8	1,214.2
Customer loans	346.9	344.4	318.6	332.7
Customer deposits	340.5	349.7	315.8	334.2

Equity (in billions of euros)
Group shareholders’ equity	57.2	55.2	51.1	50.9
Total consolidated equity	61.0	58.8	54.1	54.0
Cash flow statements (in billions of euros)
Net inflow (out flow) in cash and cash equivalents	NC	(10,183)	NC	(981)

(1) Items relating to the results for 2013 have been restated due to the implementation of IFRS 10 & 11.

(2) excluding the revaluation of own financial liabilities and DVA

There has been no material adverse change in the prospects of the Issuer since 31 December 2014.

Not Applicable. There has been no significant change in the Issuer’s financial or trading position of the Issuer since 31 March 2015.

B.19/B.13:

Not Applicable.There has been no recent event particular to the Issuer which is to a material extent relevant to the evaluation of the Issuer's solvency.

B.19/ B.14:

See Element B.5 above for the Issuer’s position within the Group.

Société Générale is the ultimate holding company of the Group. However, Société Générale operates its own business; it does not act as a simple holding company vis-à-vis its subsidiaries.

B.19/ B.15:

See Element B.19/ B.5 above.

B.19/ B.16:

Not Applicable. To its knowledge, Société Générale is not owned or controlled, directly or indirectly (under French law) by another entity.

B.19/ B.17:

Société Générale is rated AA (low) by DBRS, A by Fitch Ratings, A2 by Moody’s Investors Services and A by Standard and Poor’s.

Section C – Securities

C.1	Type and the class of the securities being offered and/or admitted to trading, including any security identification number	The Notes are debt securities ISIN code: XS1202763360 Common Code: 120276336
C.2	Currency of the securities issue	TRY Settlement currency : EUR
C.5	Description of any restrictions on the free transferability of the securities	There is no restriction on the free transferability of the Notes, subject to selling and transfer restrictions which may apply in certain jurisdictions.
C.8	Rights attached to the securities, including ranking and limitations to those rights and procedures for the exercise of those rights	Rights attached to the securities: Unless the Notes are previously redeemed, the Notes will entitle each holder of the Notes (a Noteholder) to receive a redemption amount at par on the maturity date and a potential yield on these Notes (see Element C.9). A Noteholder will be entitled to claim the immediate and due payment of any sum in case: - the Issuer fails to pay or to perform its other obligations under the Notes - the Guarantor fails to perform its obligations under the Guarantee or in the event that the guarantee of Société Générale stops being valid; - of insolvency or bankruptcy proceeding(s) affecting the Issuer. The Noteholders’ consent shall have to be obtained to amend the contractual terms of the Notes pursuant to the provisions of an agency agreement, made available to a Noteholder upon request to the Issuer. - The Issuer accepts the exclusive competence of the courts of England in benefit of the Noteholders in relation to any dispute against the Issuer but accepts that such Noteholders may bring their action before any other competent court. Ranking: The Notes will be direct, unconditional, unsecured and unsubordinated obligations of the Issuer and will rank equally with all other outstanding direct, unconditional, unsecured and unsubordinated obligations of the Issuer, present and future. Limitations to rights attached to the securities: - the Issuer may redeem early the Notes on the basis of the Specified Denomination of these Notes for tax or regulatory reasons; - the rights to payment of principal and interest will be prescribed within a period of ten years (in the case of principal) and five years (in the case of interest) from the date on which the payment of these amounts has become due for the first time and has remained unpaid. - In the case of a payment default by the Issuer, Noteholders shall not be entitled to take any steps or proceedings to procure the winding-up, administration or liquidation (or any other analogous proceeding) of the Issuer. Nevertheless, Noteholders will continue to be able to claim against the Guarantor in respect of any unpaid amount

		Taxation All payments in respect of Notes, Receipts and Coupons or under the Guarantee shall be made free and clear of, and without withholding or deduction for or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature imposed, levied, collected, withheld or assessed by or on behalf of any Tax Jurisdiction unless such withholding or deduction is required by law. In the event that any amounts are required to be deducted or withheld for, or on behalf of, any Tax Jurisdiction, the relevant Issuer or, as the case may be, the Guarantor shall (except in certain circumstances), to the fullest extent permitted by law, pay such additional amount as may be necessary, in order that each Noteholder, Receiptholder or Couponholder, after deduction or withholding of such taxes, duties, assessments or governmental charges, will receive the full amount then due and payable. Governing law The Notes and any non-contractual obligations arising out of or in connection with the Notes will be governed by, and shall be construed in accordance with English law.
C.9	Rights attached to the securities, including ranking and limitations to those rights and procedures for the exercise of those rights: interest, yield, redemption and representative of Noteholders	See Element C.8 above. Specified Denomination : TRY 3 000 Interest: Unless previously redeemed, the interest on the debt securities will take place as follows: Interest Commencement 27/04/2015 Date: (DD/MM/YYYY)
		Rate(s) of Interest: 8.50% per annum payable annually in arrear Specified Period(s) / Interest 27/04/2016 ; 27/04/2017 Payment Date(s)(i): (DD/MM/YYYY) Fixed Coupon Amount: Unless previously redeemed, on each Interest Payment Date, the Issuer shall pay to the Noteholders, for each Note, an amount determined by the Calculation Agent as follows: Rate of Interest x Specified Denomination x Day Count Fraction With Day Count Fraction: Actual/Actual (ICMA) Determination Date(s): 27 April in each year
		Redemption: Final Redemption Amount: Unless previously redeemed, the Issuer shall redeem the Notes on the Maturity Date, in accordance with the following provisions in respect of each Note: Specified Denomination x 100%

		Maturity Date: 27/04/2017 (DD/MM/YYYY) Yield: 8.4880%
		Representative of the Not Applicable. The Notes being Noteholders: governed by English law, there is no Representative of the Noteholders.
C.10	Clear and comprehensive explanation to help investors understand how the value of their investment is affected by the value of the underlying instrument(s), especially under the circumstances when the risks are most evident	Not Applicable. The payment of interest is not linked to a derivative component.
C.11	Whether the securities offered are or will be the object of an application for admission to trading, with a view to their distribution in a regulated market or other equivalent markets with indication of the markets in question	Application will be made for the Notes to be admitted to trading on “DomesticMOT” a regulated market organized and managed by Borsa Italiana S.p.A

Section D – Risks

D.2

Key information on the key risks that are specific to the issuer and the guarantor

The Group is exposed to the risks inherent in its core businesses.

The Group's risk management focuses on the following main categories of risks, any of which could materially adversely affect the Group's business, results of operations and financial condition:

Market risk: risk of a loss of value on financial instruments arising from changes in market parameters, volatility of these parameters and correlations between them.

Operational risks: risk of losses or sanctions due to inadequacies or failures in internal procedures or systems, human error or external events;

Structural interest and exchange rate risk: risk of loss or of write-downs in the Group’s assets arising from variations in interest or exchange rates.

Liquidity risk: risk of the Group not being able to meet its cash or collateral requirements as they arise and at a reasonable cost.

The Guarantee constitutes a general and unsecured contractual obligation of the Guarantor and no other person, any payments on the Notes are also dependent on the creditworthiness of the Guarantor.

The Guarantee is a payment guarantee only and not a guarantee of the performance by the relevant Issuer or any of its other obligations under the Notes benefiting from the Guarantee.

D.3

Key information on the key risks that are specific to the securities

Investment in Fixed Rate Notes involves risks linked to the fluctuation of the market rates which could have negative effect on the value of these Notes.

Section E – Offer
E.2.b	Reasons for the offer and use of proceeds	The net proceeds from each issue of Notes will be applied for the general financing purposes of the Société Générale Group, which include making a profit.
E.3	Description of the terms and conditions of the offer	Not Applicable. The Notes are not subject to a public offer in the European Economic Area.
E.4	Description of any interest that is material to the issue/offer including conflicting interests	Save for any fees payable to the dealer, so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer.
E.7	Estimated expenses charged to the investor by the Issuer or the offeror	Not Applicable. No expenses are charged to the investor by the Issuer or the offeror.

LISTING ITALIE

ANNEX

(This Annex forms a part of the Final Terms to which it is attached)

FORM OF NOTICE

From : [name and address of the Noteholder]

To : Agent – Société Générale Bank & Trust, Luxembourg

Copy to : Société Générale and Société Générale Securities Services S.p.A.

SG Issuer

Issue of TRY 90 000 000 Notes due 27/04/2017 Series 71971EN/15.4 Tranche 1

ISIN CODE : XS1202763360

(the "Notes")

When completed, this Notice should be sent by the Noteholder to the Agent with a copy to the Calculation Agent and Société Générale Securities Services S.p.A. on the Notice Date prior to

10.00 a.m (Luxembourg time).

Any notice which is not duly completed in accordance with the Conditions shall be deemed to be null and void.

Delivery of Notice (whether in writing or by fax) shall constitute an irrevocable election and undertaking by the relevant Noteholder to waive the Final Redemption Amount.

AGENT : Société Générale Bank & Trust, 00 Xxxxxx Xxxxx Xxxxxx X-0000 Xxxxxxxxxx. Telephone: (000) 00 00 00 000 - fax: (352) 24 15 75

Attention: Agencies Services (TITR/CLE/SFI)

CALCULATION AGENT : Société Générale, Tour Société Générale – 00000 Xxxxx-Xx Défense. Attention : OPER/DAI/BAC/COR/PRI/SPE

Swift: XXXXXXXXXXX

(with copy to the following fax n. 0033-1- 00 00 00 00) and

Société Générale Securities Services S.p.A.

For the attention of the Issuer Service Department Fax number: x00 00 00000000

E-mail address: xxxxxxxxxxxxxxxxxx@xxxx.xxxxxx.xx

Name of the Noteholder :

Address of the Noteholder :

Phone number of the Noteholder :

Fax number of the Noteholder :

Contact name :

ISIN Code:

Account Number:

Market Member :

Series of Notes:

Number of Notes:

Address :

Signature of the Noteholder

NOTA DI SINTESI SPECIFICA DELL’EMISSIONE

Sezione A - Introduzione e avvertenze

A.1

Avvertenza

La presente nota di sintesi deve essere letta come introduzione al Prospetto di Base.

Qualsivoglia decisione da parte dell'investitore in merito all'investimento nelle Notes deve basarsi su una valutazione complessiva del Prospetto di Base.

dell'investitore di investire nelle Notes.

A.2

Consenso all'utilizzo del Prospetto di Base

Non Applicabile. Le Notes non saranno oggetto di offerta al pubblico nell’Area Economica Europea.

Sezione B – Emittente e Garante
B.1	Ragione sociale e denominazion e commerciale dell'emittente	SG Issuer (o l’Emittente)
B.2	Sede legale, forma giuridica, legislazione e paese di costituzione	Sede legale: 00, xxxxxxxxx Xxxxxx Xxxxx, X-0000 Xxxxxxxxxxx, Xxxxxxxxxxx. Forma giuridica: Società per azioni a responsabilità limitata (société anonyme). Legislazione di riferimento dell'Emittente: diritto lussemburghese. Paese di costituzione: Lussemburgo.
B.4b	Tendenze note suscettibili di influire sull'emittente e sui settori in cui opera	Nel corso del 2015, l'Emittente prevede di proseguire la propria attività in conformità al relativo oggetto sociale.
B.5	Descrizione del gruppo e della posizione	Il Gruppo offre una vasta gamma di servizi di consulenza e soluzioni finanziarie su misura destinate a clienti privati, grandi aziende e investitori istituzionali. Il Gruppo si basa su tre attività core complementari:

	dell'emittente all'interno del gruppo	• attività di Retail Banking in Francia; • International Retail Banking, Financial Services and Insurance; e • Corporate and Investment Banking, Private Banking, Asset and Wealth Management e Securities Services. L’Emittente è una controllata del Gruppo Société Générale e non ha alcuna società controllata.
B.9	Previsioni o stime relative agli utili dell'emittente	Non Applicabile. L’Emittente non effettua alcuna previsione o stima in relazione agli utili.
B.10	Natura di eventuali riserve espresse nella relazione della società di revisione in merito ai dati storico- finanziari	Non Applicabile. La relazione della società di revisione non contiene alcuna riserva.
B.12	Principali dati storico- finanziari selezionati relativi all'emittente
	Xxxxxx cambiamento sostanzialme nte pregiudizievol i delle prospettive dell'emittente dalla data di pubblicazione dell'ultimo bilancio certificato	Non si è verificato alcun cambiamento negativo rilevante nelle prospettive dell'Emittente successivamente alla data del 31 dicembre 2014.

(in migliaia di EUR)	Esercizio 2014 (certificato)	Esercizio 2013 (certificato)
Ricavi di esercizio	110.027	109.588
Utile di gestione	209	482
Utile da operatività corrente	209	482
Totale attivo	23.567.256	21.349.619


	Cambiamenti significativi relativi alla situazione finanziaria o commerciale dell’emittente successivi al periodo cui si riferiscono i dati storico- finanziari	Non applicabile. Non si è verificato alcun cambiamento rilevante nella posizione finanziaria o di negoziazione dell'Emittente successivamente alla data del 31 dicembre 2014.
B.13	Eventi recenti relativi all'emittente che rilevano, in misura sostanziale, ai fini della valutazione della solvibilità dell'emittente	Non Applicabile. Non si sono verificati eventi recenti relativi all'Emittente che rilevano, in misura sostanziale, ai fini della valutazione della solvibilità dell’Emittente.
B.14	Dichiarazione in ordine alla dipendenza dell'emittente da altre entità del gruppo	Per le informazioni sulla posizione dell’Emittente all'interno del Gruppo si rimanda all'Elemento B.5 che precede. All'interno del Gruppo, SG Issuer fa capo a Société Générale Bank & Trust.
B.15	Descrizioni delle attività principali dell'emittente	L’ attività principale di SG Issuer è rappresentate dalla raccolta di fondi tramite l'emissione di titoli di debito destinati al collocamento presso clienti istituzionali o retail tramite collocatori associati a Société Générale. I fondi derivanti all'emissione di tali titoli di debito vengono quindi concessi in prestito a Société Générale ed altri membri del Gruppo.
B.16	Per quanto a conoscenza dell'emittente, soggetto da cui l'emittente è controllato o partecipato, direttamente o indirettament e, e descrizione della natura di tale controllo	SG Issuer è una società controllata al 100 percento da Société Générale Bank & Trust S.A., che è a sua volta un'entità interamente controllata da Société Générale e interamente consolidata.


B.17	Valutazioni del merito di credito attribuite all’emittente o ai titoli di debito	Non Applicabile. L’Emittente non è oggetto di valutazione del merito di credito. Non Applicabile. Le Notes non sono oggetto di valutazione del merito di credito.
B.18	Natura e ambito della garanzia	Le Notes sono garantite incondizionatamente e irrevocabilmente da Société Générale (il Garante) ai sensi della Garanzia datata 28 ottobre 2014. La Garanzia costituisce un'obbligazione diretta, incondizionata, non garantita e generale del Garante, ed è e sarà pari passu rispetto a tutte le altre obbligazioni, esistenti e future, dirette, incondizionate, non garantite e generali del Garante, ivi comprese quelle relative ai depositi.
B.19	Informazioni	Le informazioni in merito a Société Générale come se questa fosse l'emittente del
	relative al	medesimo tipo dle Notes oggetto della Garanzia sono di seguito riportate,
	garante come	rispettivamente, in conformità a quanto previsto rispettivamente agli Elementi B.19 / B.1,
	se questi fosse	B.19 / B.2, B.19 / B.4b, B.19 / B.5, B.19 / B.9, B.19 / B.10, B.19 / B.12, B.19 / B.13, B.19 /
	l'emittente del	B.14, B.19 / B.15, B.19 / B.16 e B.19/B.17 di seguito rispettivamente:
	medesimo tipo
	di titoli oggetto della garanzia	B.19/ B.1: Société Générale B.19/ B.2: Sede legale: 00, xxxxxxxxx Xxxxxxxxx, 00000 Xxxxxx, Xxxxxxx.
		Forma giuridica: Società per azioni a responsabilità limitata (société anonyme).
		Legislazione di riferimento dell'Emittente: diritto francese.
		Paese di costituzione: Francia.
		B.19/ B.4b: Il 2014 è stato un altro anno difficile per l'economia, con le attività a livello globale che hanno fatto registrare solo una crescita moderata, diversa da regione a regione. Tale tendenza continuerà probabilmente anche nel 2015, anno che si sta preparando a offrire una ripresa a livello globale inferiore alle attese, tra mille incertezze sia di natura geopolitica che in termini di mercati delle materie prime e dei cambi.
		La zona Euro sta faticando a ritornare a una crescita più dinamica, rallentando così la riduzione del disavanzo pubblico. I tassi di interesse dovrebbero rimanere ai livelli minimi, ma il rischio di deflazione dovrebbe essere tenuto sotto controllo grazie all'intervento della BCE che ha annunciato l'adozione di una politica monetaria più accomodante e l'utilizzo del proprio bilancio per sostenere la crescita. Il deprezzamento dell'Euro e il calo dei prezzi del petrolio dovrebbero contribuire a migliorare le esportazioni e a stimolare la domanda interna. L'economia USA dovrebbe continuare a rimanere positiva e si prevede che la Fed avvierà le proprie attività di stretta monetaria verso metà anno. I paesi emergenti stanno vivendo una fase di crescita più moderata, specialmente per quanto riguarda la Cina. L'economia russa si trova ad affrontare le conseguenze della crisi in Ucraina e del crollo dei prezzi delle materie prime.
		Dal punto di vita normativo, il 2014 ha visto l'implementazione della Unione Bancaria. La Banca Centrale Europea ha assunto la guida del Sistema Unico di Vigilanza, controllando circa 130 banche della zona Euro, allo scopo di rafforzare il sistema bancario, ripristinare la fiducia degli operatori economici, armonizzare le norme di vigilanza bancaria e ridurre il collegamento tra banche e rispettive autorità nazionali.
		In termini di coefficienti normativi, il Gruppo è già in grado di soddisfare i nuovi requisiti.
		B.19/ B.5:
		Il Gruppo offre una vasta gamma di servizi di consulenza e soluzioni finanziarie su misura

destinate a clienti privati, grandi aziende e investitori istituzionali. Il Gruppo si basa su tre attività core complementari: • attività di Retail Banking in Francia; • International Retail Banking, Financial Services and Insurance; e • Corporate and Investment Banking, Private Banking, Asset and Wealth Management e Securities Services. Société Générale è la capogruppo del Gruppo Société Générale. B.19/ B.9: Non Applicabile. L’Emittente non effettua alcuna previsione o stima in relazione agli utili. B.19/B.10: Non Applicabile. La relazione della società di revisione non contiene alcuna riserva. B.19/B.12:
			1	Esercizi	1	Esercizio
			Trimestr	o 2014	Trimes	2013
			e – 2015	(certifica	tre –	(certificat
			(non	to, salvo	2014	o) (1)
			certificat	quanto	(non
			o)	altriment	certific
				i	ato)
				riportato
				(*))
	Risultati (in milioni
	di EUR)
			6,353		5,656	22,433
	Risultato netto delle attività bancarie			23,561	(*)
			1,298		916 (*)	2,336
	Reddito Operativo			4,557 (*)
			962
	Risultato	netto
	prima partecipazioni	delle di		2, 978 (*)	239 (*)	2,394
	minoranza
			868		169 (*)	2,044
	Risultato netto			2, 679 (*)
			273		291 (*)	1,196
	Retail Banking in			1, 204
	Francia,			(*)
			139
	International Retail Banking & Financial Services			370 (*)	(343) (*)	983
			522
	Global Banking and			1, 909 (*)	430 (*)	1,206
	Investor Solutions

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