Product wrap: Groupama pitches €180m Natixis green bond in France

EUROPE Groupama is distributing Porphyre Climat Septembre 2019 in France. The product can be redeemed early, annually, if the underlying Euronext Climate Objective 50 Euro EW Decrement 5 % Index closes at or above its initial level. In that case, the structure offers 100% capital return plus a coupon of 6.50% for each year elapsed. The bond for this product, which is issued by Natixis, is used to finance or refinance green projects for positive and sustainable environmental impact. The note is