The Total Express 2 certificate provides the annual opportunity for early redemption and enables investors to obtain a profit of 11% per year (maximum 55%).

The certificate has a maximum term of 5 years (until May 2024). It is redeemed prior to the maturity date, if the closing price of the share of Total S.A. quotes at or above the termination level (equals the starting value of 100%) at one of the annual valuation dates.

If the share closing price quotes below the termination level at the fixed annual date the term extends by another year to the next annual valuation date and the possible yield rises by 11%. In the fifth and final year the termination price is 155%. If the closing price of the share touches or undercuts the barrier of 55% at the final valuation date, the investor receives no yield and the predefined amount of Total shares is delivered.