BNP Paribas plans to slash its dividend and sell billions of euros of bonds to investors next week as it settles a long-running US investigation into its alleged violation of US sanctions, according to a person familiar with the matter.

The settlement between the large French bank and US authorities is expected to be announced on Monday, although both sides are still ironing out final details, this person said. BNP Paribas is expected to plead guilty to criminal charges and pay up to $9 billion, people familiar with the negotiations have said.