TOTAL S.A., TOTAL CAPITAL, TOTAL CAPITAL CANADA LTD. and

FIFTH SUPPLEMENT DATED 26 FEBRUARY 2016
TO THE DEBT ISSUANCE PROGRAMME PROSPECTUS DATED 21 APRIL 2015
TOTAL S.A.,
TOTAL CAPITAL,
TOTAL CAPITAL CANADA LTD.
and
TOTAL CAPITAL INTERNATIONAL
€30,000,000,000
Euro Medium Term Note Programme
Due from seven days from the date of original issue
This supplement (the “Fifth Supplement”) is supplemental to, and should be read in conjunction with, the
Debt Issuance Programme Prospectus dated 21 April 2015 (the “Prospectus”), the First Supplement thereto
dated 12 May 2015 (the “First Supplement”), the Second Supplement thereto dated 31 July 2015 (the
“Second Supplement”), the Third Supplement thereto dated 4 November 2015 (the “Third Supplement”)
and the Fourth Supplement thereto dated 16 February 2016 (the “Fourth Supplement”) (together, the “Debt
Issuance Programme Prospectus”), which has been prepared by Total S.A., Total Capital, Total Capital
International and Total Capital Canada Ltd. (the “Issuer” or “Issuers”, as the case may be) in relation to the
€30,000,000,000 Euro Medium Term Note Programme (the “Programme”). The Debt Issuance Programme
Prospectus constitutes a base prospectus for the purposes of Article 5.4 of Directive 2003/71/EC (the
“Prospectus Directive”). The Autorité des marchés financiers (the “AMF”) granted the Prospectus visa no.
15-160 on 21 April 2015, the First Supplement visa no. 15-198 on 12 May 2015, the Second Supplement visa
no. 15-433 on 31 July 2015, the Third Supplement visa no. 15-562 on 4 November 2015 and the Fourth
Supplement visa no 16-052 on 16 February 2016. Application has been made for approval of the Fifth
Supplement to the AMF in its capacity as competent authority pursuant to Article 212-2 of its Règlement
Général which implements the Prospectus Directive in France.
Unless the context otherwise requires, terms defined in the Debt Issuance Programme Prospectus shall have
the same meaning when used in this Fifth Supplement.
To the extent that there is any inconsistency between (a) any statement in this Fifth Supplement or any
statement incorporated by reference into this Fifth Supplement and (b) any statement in, or incorporated by
reference in the Debt Issuance Programme Prospectus, the statements referred to in (a) above will prevail.
This Fifth Supplement constitutes a supplement to the Debt Issuance Programme Prospectus for the
purposes of Article 16 of the Prospectus Directive and has been prepared in accordance with Article 16.1 of
the Prospectus Directive and Article 212-25 of the AMF’s Règlement Général for the purpose of:
(a)
reflecting the rating downgrade by Standard & Poor’s Rating Services of the long- and short-term
corporate credit rating of Total S.A. from AA- and A-1+ to A+ and A-1, respectively; and
(b)
updating the summary section in English and the résumé in French to reflect such updated
information.
PARIS 3553585 v2 (2K)
Copies of this Fifth Supplement (a) may be obtained, free of charge, at the registered office of Total S.A.
during normal business hours, (b) will be available on the website of Total S.A. (www.total.com), (c) will be
available on the website of the AMF (www.amf-france.org) and (d) will be available for collection free of
charge on any weekday (Saturdays, Sundays and public holidays excepted) at the specified offices of the
Fiscal Agent and each Paying Agent during normal business hours so long as any of the Notes are
outstanding.
In relation to any offer of Notes to the public, and provided that the conditions of article 16(2) of the
Prospectus Directive are fulfilled, investors who have already agreed to purchase or subscribe for Notes to be
issued under the Programme before this Fifth Supplement is published have the right, according to article
16(2) of the Prospectus Directive, to withdraw their acceptances within a time limit of two (2) working days
after the publication of this Fifth Supplement, i.e. until by no later than 1 March 2016.
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TABLE OF CONTENTS
Page
RATINGS .................................................................................................................................................... 4
SUMMARY .................................................................................................................................................. 5
RÉSUMÉ EN FRANÇAIS............................................................................................................................ 6
PERSONS RESPONSIBLE FOR THE INFORMATION GIVEN IN THE FIFTH SUPPLEMENT ................ 7
3
RATINGS
Further to the rating downgrade by Standard & Poor’s Rating Services of the long- and short-term corporate
credit rating of Total S.A., the first sentence of the eighth paragraph of the cover page of the Debt Issuance
Programme Prospectus shall be deleted and shall be replaced by the following:
“The Programme has been rated “A+” for long term debt and “A-1” for short term debt by Standard & Poor’s
Rating Services (“S&P”) and “Aa1” for long term debt and “Prime -1” for short term debt by Moody’s Investors
Services Limited (“Moody’s”).”
4
SUMMARY
The section entitled “Credit ratings relating to the Notes” in part B.17 of the Summary on pages 9 to 10 of the
Debt Issuance Programme Prospectus is hereby deleted and replaced in its entirety with the following:
B.17
Credit
ratings
relating to
the Notes
The Programme has been rated “A+” for long term debt and “A-1” for short term debt
by Standard & Poor’s Rating Services (“S&P”) and “Aa1” for long term debt and “Prime
-1” for short term debt by Moody’s Investors Services Limited (“Moody’s”). The credit
ratings included or referred to in this Debt Issuance Programme Prospectus will be
treated for the purposes of Regulation (EC) No 1060/2009 (as amended) on credit
rating agencies (the “CRA Regulation”) as having been issued by Moody’s and S&P
upon registration pursuant to the CRA Regulation. Moody’s and S&P are established in
the European Union and registered under the CRA Regulation. Each of S&P and
Moody’s is included in the list of registered credit rating agencies published by the
European
Securities
and
Markets
Authority
on
its
website
(http://www.esma.europa.eu/page/List-registered-and-certified-CRAs ) in accordance
with the CRA Regulation.
Tranches of Notes issued under the Programme may be rated or unrated.
Where a tranche of Notes is rated, such rating will not necessarily be the same as the
ratings assigned to the Programme. Where a tranche of Notes is rated, such rating will
be specified in the relevant Final Terms. Whether or not a rating in relation to any
Tranche of Notes will be treated as having been issued by a credit rating agency
established in the European Union and registered under the CRA Regulation will also
be disclosed in the relevant Final Terms.
A security 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. Ratings can come under review at any time by rating agencies. Investors are
invited to refer to the websites of the relevant rating agencies in order to have access
to the latest ratings (respectively: http://www.standardandpoors.com and
http://www.moodys.com).
[Issue specific summary:
[Not Applicable/The Notes to be issued
have been rated:
Credit ratings:
Standard & Poor’s: [•]
Moody’s: [•] ]
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RÉSUMÉ EN FRANÇAIS
The section entitled “Notations assignées à l’Emetteur ou à ses titres d’emprunt” in part B.17 of the Résumé
on pages 29 and 30 of the Debt Issuance Programme Prospectus is hereby deleted and replaced in its
entirety with the following:
B.17
Notations
assignées à
l’Emetteur ou à
ses titres
d’emprunt
Le Programme a fait l’objet d’une notation «A+» pour la dette long terme et « A-1»
pour la dette court terme par Standard & Poor’s Rating Services (« S&P ») et
«Aa1» pour la dette long terme et «Prime -1» pour la dette court terme par
Moody’s Investors Services Limited (« Moody’s »). Les notations insérées ou dont
il est fait référence dans le présent Prospectus du Programme d’Emission de Titres
de Créance seront traitées pour les besoins du Règlement (CE) N°1060/2009 (tel
que modifié) relatif aux agences de notation (le « Règlement CRA ») comme
ayant été émises par S&P et Moody’s lors de leur enregistrement conformément
au Règlement CRA. Moody’s et S&P sont des agences de l’Union Européenne et
enregistrées conformément au règlement CRA. Tant S&P que Moody’s sont
référencées dans la liste des agences de notation enregistrées publiée sur le site
internet
de
l’ESMA
(European
Securities
and
Markets
Authority)
(http://www.esma.europa.eu/page/List-registered-and-certified-CRAs)
conformément au Règlement CRA.
Les tranches de Titres émises dans le cadre de ce Programme pourront faire
l’objet d’une notation.
Lorsqu’une tranche de Titres fait l’objet d’une notation, cette dernière ne sera pas
nécessairement celle qui a été attribuée au Programme. Lorsqu’une tranche fait
l’objet d’une notation, celle-ci sera indiquée dans les Conditions Définitives
applicables. Les Conditions Définitives applicables préciseront si la notation
relative à une tranche de Titres sera considérée comme émise par une agence de
notation de l’Union Européenne et enregistrée conformément au Règlement CRA.
Une notation ne constitue pas une recommandation d’achat, de vente ni de
détention de titres et peut à tout moment être suspendue, modifiée, ou faire l’objet
d’un retrait par l’agence de notation concernée. Les notations peuvent être revues
à tout moment par les agences de notation. Les Investisseurs sont invités à se
référer au site internet de l’agence de notation concernée afin d’accéder aux
dernières notations (respectivement : http://www.standardandpoors.com and
http://www.moodys.com).
[Résumé spécifique à l’émission:
[Sans objet/les Titres à émettre ont fait
l’objet d’une notation:
Notation :
Standard & Poor’s: [•]
Moody’s: [•]]
6
PERSONS RESPONSIBLE FOR THE INFORMATION GIVEN IN THE FIFTH SUPPLEMENT
To the best of TOTAL S.A.’s knowledge (having taken all reasonable care to ensure that such is the
case), the information contained in this Fifth Supplement is in accordance with the facts and contains no
omission likely to affect its import.
TOTAL S.A.
2, place Jean Millier, La Défense 6
92400 Courbevoie, France
Duly represented by:
Humbert de Wendel,
Group Treasurer of Total S.A.
on 26 February, 2016
To the best of TOTAL CAPITAL’s knowledge (having taken all reasonable care to ensure that such is
the case), the information contained in this Fifth Supplement is in accordance with the facts and contains
no omission likely to affect its import.
TOTAL CAPITAL
2, place Jean Millier, La Défense 6
92400 Courbevoie, France
Duly represented by:
Humbert de Wendel on behalf of Total Finance Corporate Services Limited,
Director of Total Capital
on 26 February, 2016
To the best of TOTAL CAPITAL CANADA’s knowledge (having taken all reasonable care to ensure that
such is the case), the information contained in this Fifth Supplement is in accordance with the facts and
contains no omission likely to affect its import.
TOTAL CAPITAL CANADA LTD.
2900, 240-4th Avenue S.W.
Calgary, Alberta, T2P 4H4, Canada
Duly represented by:
Humbert de Wendel,
President of Total Capital Canada
on 26 February, 2016
To the best of TOTAL CAPITAL INTERNATIONAL’s knowledge (having taken all reasonable care to
ensure that such is the case), the information contained in this Fifth Supplement is in accordance with
the facts and contains no omission likely to affect its import.
TOTAL CAPITAL INTERNATIONAL
2, place Jean Millier, La Défense 6
92400 Courbevoie, France
Duly represented by:
Humbert de Wendel on behalf of Total Finance Corporate Services Limited,
Director of Total Capital International
on 26 February, 2016
7
Autorité des marchés financiers
In accordance with Articles L. 412-1 and L. 621-8 of the French Code monétaire et financier and with the
General Regulations (Réglement Général) of the Autorité des marchés financiers (“AMF”), in particular
Articles 212-31 to 212-33, the AMF has granted to this Fifth Supplement the visa no. 16-061 on 26 February,
2016. This document and the Debt Issuance Programme Prospectus may only be used for the purposes of a
financial transaction if completed by Final Terms. It was prepared by the Issuer and its signatories assume
responsibility for it. In accordance with Article L. 621-8-1-I of the French Code monétaire et financier, the visa
was granted following an examination by the AMF of "whether the document is complete and comprehensible,
and whether the information it contains is coherent". It does not imply that the AMF has verified the accounting
and financial data set out in it or the appropriateness of the issue of any Notes. This visa has been granted
subject to the publication of Final Terms in accordance with Article 212-32 of the AMF's General Regulations,
setting out the terms of the securities being issued.
8