Reuters: BES.LS Bloomberg: BES PL www.bes.pt/investidor BANCO ESPÍRITO SANTO, S.A. informa sobre alteração de cupão e ficha técnica rectificada das obrigações subordinadas 41,550,000 Subordinated Step-Up Floating Rate Notes due December 2018 under the 20,000,000,000 Euro Medium Term Note Programme (ISIN: PTBEMLOM0012) Avisam-se os titulares das OBRIGAÇÕES SUBORDINADAS 41,550,000 Subordinated Floating Rate Notes due December 2018 (ISIN PTBEMLOM0012) que, por determinação do Emitente, de acordo com a ficha técnica rectificada da emissão que se encontra em anexo, a partir do próximo dia 11 de Junho de 2011 (inclusive), a taxa de cupão será alterada da seguinte forma: EURIBOR a 3 meses + 3.00% As obrigações encontram-se integradas na Central de Valores Mobiliários, sob o código DBVUGR, processando-se o pagamento de acordo com os regulamentos em vigor. Mais se informa que a presente alteração de cupão se encontra reflectida na ficha técnica rectificada em anexo. Lisboa, 07 de Junho de 2011 BANCO ESPIRITO SANTO, S.A. Contactos Relações com o mercado e com a CMVM; Relações com Investidores Elsa Santana Ramalho Telefone: 21 359 73 90 Fax: 21 359 70 01 E-mail: investidor@bes.pt
7 June 2011 ANEXO FICHA TÉCNICA RECTIFICADA BANCO ESPÍRITO SANTO, S.A. (acting through its head office) Issue of 41,550,000 Subordinated Step-Up Floating Rate Notes due December 2018 under the 20,000,000,000 Euro Medium Term Note Programme PART A CONTRACTUAL TERMS Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Prospectus dated 18th January, 2008 (the Prospectus) which constitutes a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC) (the Prospectus Directive). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Prospectus. Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Prospectus. The Prospectus and the Final Terms are available for viewing on the website of the Luxembourg Stock Exchange (www.bourse.lu) and copies may be obtained from, Banco Espírito Santo, S.A., Avenida da Liberdade, 195, 1250-142 Lisbon, Portugal. 1. Issuer: Banco Espírito Santo S.A. (acting through its head office) 2. Series Number: 10 Tranche Number: 1 3. Specified Currency or Currencies: Euro ( ) 4. Aggregate Nominal Amount: Series: 41,550,000
Tranche: 41,550,000 5. Issue Price of Tranche: 100 per cent. of the Aggregate Nominal Amount 6. (i) Specified Denomination: 50,000 (ii) Calculation Amount: 50,000 7. Issue Date and Interest Commencement Date: 11 December 2008 8. Maturity Date: 11 December 2018 9. Interest Basis: Floating Rate (further particulars specified below) 10. Redemption/Payment Basis: Redemption at par 11. Change of Interest Basis or Redemption/Payment Basis: 12. Put/Call Options: Call Option 13. (i) Status of the Notes: Dated Subordinated (ii) Date of Board approval for issuance of Notes obtained: 09 October 2008 14. Method of distribution: Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE 15. Fixed Rate Note Provisions 16. Floating Rate Note Provisions Applicable (i) Specified Period(s) / Specified Interest Payment Dates: (ii) Business Day Convention: (iii) Additional Business Centre(s): (iv) Manner in which the Rate of Interest and Interest Amount is to be determined: (v) Party responsible for calculating the Rate of Interest and Interest Amount (if not the Agent): 11 March, 11 June, 11 September and 11 December in each year, from the 11 March 2009 up to and including the Maturity Date Modified Following Business Day Convention Screen Rate Determination (vi) Screen Rate Determination: Reference Rate: 3-month EURIBOR Interest Determination Date(s): Second day on which the TARGET System is open prior to the start of each Interest Period Relevant Screen Page: Reuters EURIBOR01 Relevant Time: 11:00 am Brussels Time (vii) If ISDA Determination: (viii) Margin(s): +1.00 per cent. per annum applicable for the period from the issue date up to, but excluding, 11 June 2011 +3.00 per cent. per annum applicable for the period from, and including, 11 June 2011 until the Maturity Date (ix) Minimum Rate of Interest: (x) Maximum Rate of Interest:
(xi) Day Count Fraction: (xii) Fallback provisions, rounding provisions and any other terms relating to the method of calculating interest on Floating Rate Notes, if different from those set out in the Conditions: Actual/360 (adjusted) As per Conditions 7(e) 17. Zero Coupon Note Provisions 18. Index Linked Interest Note Provisions 19. Dual Currency Interest Note Provisions
PROVISIONS RELATING TO REDEMPTION 20. Issuer Call: Applicable (i) Optional Redemption Date(s) On each Interest Payment Date starting on 11 December 2013 up to, and including, the Interest Payment Date falling or nearest to 11 September 2018, subject to the previous approval of the Bank of Portugal (ii) Optional Redemption amount(s) of each note and method, if any, of calculation of such amount(s): 50,000 per Note of each Specified Denomination (iii) If redeemable in part: (iv) Option Exercise Date(s) (v) Description of any other Issuer s option: (vi) Notice period (if other than as set out in the Conditions 21. Investor Put: 22. Final Redemption Amount of each Note: 23. Early Redemption Amount(s) of each Note payable on redemption for taxation reasons or on event of default and/or the method of calculating the same (if required or if different from that set out in Condition 7(e)): 100 per cent. Per Note of 50,000 specified Denomination As per Condition 7(e)
GENERAL PROVISIONS APPLICABLE TO THE NOTES 24. Form of Notes: Book-entry form Notes 25. Additional Financial Centre(s) or other special provisions relating to Payment Days: 26. Talons for future Coupons or Receipts to be attached to Definitive Notes (and dates on which such Talons mature): 27. Details relating to Partly Paid Notes: amount of each payment comprising the Issue Price and date on which each payment is to be made and consequences of failure to pay, including any rights of the Issuer to forfeit the Notes and interest due on late payment: 28 Details relating to Instalment Notes: amount of each instalment, date on which each payment is to be made: No 29. Redenomination: Redenomination not applicable 30. Consolidation provisions: Not applicable (i) Other final terms: (ii) Applicable tax regime for the Notes: Decree Law 195 / 2005
DISTRIBUTION 31. If syndicated, names of Managers: Stabilising Manager (if any): 32. If non-syndicated, name of relevant Dealer: 33. Whether TEFRA D rules applicable or TEFRA rules not applicable: Banco Espírito Santo, S.A. TEFRA not applicable 34. Additional selling restrictions: LISTING AND ADMISSION TO TRADING APPLICATION These Final Terms comprise the final terms required to list and have admitted to trading the issue of Notes described herein pursuant to the 20,000,000,000 Euro Medium Term Note Programme of Banco Espírito Santo, S.A. RESPONSIBILITY The Issuer accepts responsibility for the information contained in these Final Terms. Signed on behalf of the Issuer: By: By: Duly authorised Duly authorised
PART B OTHER INFORMATION 1. LISTING AND ADMISSION TO TRADING (i) Listing: (ii) Admission to trading: (iii) Estimate of total expenses related to admission to trading: 2. RATINGS Ratings: Luxembourg Application has been made by the Issuer (or on its behalf) for the Notes to be admitted to listing on the Official List of the Luxembourg Stock Exchange and to trading on the regulated market of the Luxembourg Stock Exchange with effect from 11 th December, 2008. EUR 3.900,00 The Notes to be issued have not been rated. 3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE Save for any fees payable to the Managers, so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer. 4. OPERATIONAL INFORMATION (i) ISIN Code: PTBEMLOM0012 (ii) Common Code: 039329310 (iii) Any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme and the relevant identification number(s): (iv) Delivery: (v) Names and addresses of additional Paying Agent(s) (if any): Interbolsa Sociedade Gestora de Sistemas de Liquidação e de Sistemas Centralizados de Valores Mobiliários, S.A. Delivery against payment