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Index Rules Amendment linked to the discontinuation of EONIA

8

JUL
2021

On 31 May 2019, the European Money Markets Institute (EMMI) announced that the Euro Overnight Index Average (EONIA) will be discontinued on 3 January 2022 The Working Group on Euro Risk-free Rates (Euro RFR WG) has recommended that the Euro Short-Term Rate (€STR) be adopted as EONIA’s replacement prior to EONIA’s discontinuation.  The Euro RFR WG’s statements can be found at

https://www.ecb.europa.eu/press/pr/date/2019/html/ecb.pr190314_1~af10eb740e.en.html.

In accordance with the Euro RFR WG’s recommendation and to maintain the economic characteristics of the following indices, Société Générale, as Index Sponsor, will adjust the Index Rules and direct the Index Calculation Agents to replace the use of EONIA by €STR plus a fixed spread of 8.5 basis points. Such change will be effective on July 12 th, 2021 (included).

An updated version of the Index Rules is available upon request to the Index Sponsor.

 

Scope of indices:

SGIXMOE2

SGIXFMBL

SGMDIDCB

SGIXFIRM