Artemis, the holding company of the Pinault family and majority shareholder of French luxury group Kering, has announced the issuance of a 400 million euros ($464 million) bond tied to the market performance of Kering’s ordinary shares. According to a statement from Artemis, investors will have the option to redeem the bond for a cash amount based on the average share price of Kering over a specified period. No actual Kering shares will be delivered. The bond, issued at par value, will mature on December 1, 2030, and carries an annual interest rate between 1% and 1.5%. The offering was oversubscribed, according to the underwriters. Artemis stated that proceeds will be used for general corporate purposes.