BANCA POPOLARE DI VICENZA S.C.P.A. C6,000,000,000 EMTN
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Base Prospectus BANCA POPOLARE DI VICENZA S.c.p.a. (incorporated as a joint stock cooperative company in the Republic of Italy) C6,000,000,000 EMTN Programme Application has been made to the Commission de Surveillance du Secteur Financier (the ‘‘CSSF’’) in its capacity as competent authority under the Luxembourg Act relating to prospectuses for securities (Loi relative aux Prospectus pour valeurs mobilie`res) to approve this document as a base prospectus (the ‘‘Base Prospectus’’) for the purposes of the Directive 2003/71/EC (the ‘‘Prospectus Directive’’). Application has been made for notes (the ‘‘Notes’’) issued under the Euro Medium Term Note Programme (the ‘‘Programme’’) described in this Base Prospectus to be traded on the regulated market of the Luxembourg Stock Exchange and to be listed on the official list of the Luxembourg Stock Exchange. This Base Prospectus shall be valid for a period of twelve months from the date hereof. The Luxembourg Stock Exchange’s regulated market is a regulated market for the purposes of the Markets in Financial Instruments Directive (Directive 2004/39/EC). This Base Prospectus constitutes a base prospectus for the purposes of Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 (the ‘‘Prospectus Directive’’) and the relevant implementing measures in the Grand Duchy of Luxembourg. The Programme also permits Notes to be issued on the basis that they will be admitted to listing, trading and/or quotation by such other or further listing authorities, stock exchange and/or quotation systems as may be agreed with the Issuer. This Base Prospectus will be available for viewing on the website of the Luxembourg Stock Exchange (www.bourse.lu). Notes issued under the Programme which are to be admitted to trading on the regulated market of the Luxembourg Stock Exchange and/or admitted to listing, trading and/or quotation by any other listing authority, stock exchange and/or quotation system situated or operating in a Member State and/or offered to the public in any Member State, in each case in circumstances which require the publication of a prospectus under the Prospectus Directive and the implementing measures in the relevant Member State, may not have a minimum denomination of less than EUR 50,000 (or nearly equivalent in another currency). Subject thereto, Notes will be issued in such denominations as may be specified in the relevant Final Terms, subject to compliance with all applicable legal and/or regulatory requirements. Tranches of Notes may be rated or unrated. A rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency. This Base Prospectus comprises a base prospectus for the purposes of Article 5.4 of the Prospectus Directive and for the purpose of giving information with regard to the Issuer and its Subsidiaries taken as a whole (the ‘‘Group’’) and the Notes, which, according to the particular nature of the Issuer and the Notes, is necessary to enable investors to make an informed assessment of the liabilities, financial position, profit and losses and prospects of the Issuer. See ‘‘Risk Factors’’ below for a discussion of certain factors to be considered in connection with any investment in the Notes. Arranger The Royal Bank of Scotland Dealers Banca IMI Barclays Capital BNP PARIBAS Citi Deutsche Bank Dexia Capital Markets HSBC Morgan Stanley Pohjola Bank plc The Royal Bank of Scotland This Base Prospectus is dated 1 July 2008 and will be valid for twelve months as of the date hereof. It supersedes the Base Prospectus dated 30 May 2007. TABLE OF CONTENTS Page Important Notices ........................................................................................................................................... 3 Risk Factors .................................................................................................................................................... 6 Documents Incorporated by Reference ..................................................................................................... 12 Supplements to the Base Prospectus .......................................................................................................... 13 General Description of the Programme ..................................................................................................... 14 Form of the Notes ......................................................................................................................................... 20 Terms and Conditions of the Notes ............................................................................................................. 23 Form of Final Terms ..................................................................................................................................... 44 Summary of the Provisions relating to the Notes whilst in Global Form ............................................ 57 Business Description of Banca Popolare di Vicenza................................................................................. 60 Selected Consolidated Financial Information............................................................................................. 84 Capitalisation and Indebtedness .................................................................................................................. 88 Taxation............................................................................................................................................................ 89 Subscription and Sale ..................................................................................................................................... 96 General Information....................................................................................................................................... 99 2 Banca Popolare di Vicenza Societa` Cooperativa per Azioni (the ‘‘Issuer’’) accepts responsibility for the information contained in this Base Prospectus. The Issuer declares that, having taken all reasonable care to ensure that such is the case, the information contained in this Base Prospectus is, to the best of its knowledge and belief, in accordance with the facts and contains no omission likely to affect its import. Certain information and data contained in this Base Prospectus relating to the competitive position of the Issuer was derived from publicly available information. The Issuer accepts responsibility that such publicly available information has been accurately reproduced and, as far as the Issuer is aware and is able to ascertain, no facts have been omitted which would render such information inaccurate or misleading. Where applicable, the source of such information is indicated in footnotes in this Base Prospectus. IMPORTANT NOTICES This Base Prospectus supersedes any base prospectus or offering circular with respect to the Programme issued prior to the date hereof. Any Notes issued under the Programme on or after the date of this Base Prospectus are subject to the provisions described herein, but this Base Prospectus does not affect the terms of any Notes issued prior to the date hereof. Each Tranche (as defined herein) of Notes will be issued on the terms set out herein under ‘‘Terms and Conditions of the Notes’’ (the ‘‘Conditions’’) as amended and/or supplemented by a document specific to such Tranche called final terms (the ‘‘Final Terms’’) or in a separate prospectus specific to such Tranche (the ‘‘Drawdown Prospectus’’). In the case of a Tranche of Notes which is the subject of a Drawdown Prospectus, each reference in this Base Prospectus to information being specified or identified in the relevant Final Terms shall be read and construed as a reference to such information being specified or identified in the relevant Drawdown Prospectus unless the context required otherwise. This Base Prospectus should be read and construed together with any amendments or supplements hereto and with any other documents incorporated by reference herein and, in relation to any Tranche (as defined herein) of Notes which is the subject of Final Terms (as defined herein), should be read and construed together with the relevant Final Terms. The Issuer has confirmed to the Dealers named under ‘‘Subscription and Sale’’ below that this Base Prospectus (including, for this purpose, each relevant Final Terms) contains all information regarding the Issuer and its Subsidiaries (as defined under the Terms and Conditions of the Notes) (the ‘‘Group’’) and the Notes which is (in the context of the Programme and the issue, offering and sale of the Notes thereunder) material; that such information is true and accurate in all material respects and is not misleading in any material respect; that any opinions, predictions or intentions expressed herein are honestly held or made and are not misleading in any material respect; that this Base Prospectus does not omit to state any material fact necessary to make such information, opinions, predictions or intentions (in such context) not misleading in any material respect; and that all proper enquiries have been made to ascertain and to verify the foregoing. No person has been authorised to give any information or to make any representation not contained in or not consistent with this Base Prospectus or any other document entered into in relation to the Programme or any information supplied by the Issuer or such other information as is in the public domain and, if given or made, such