Karabela with most interestin engravings

[Valjhun]

I had the opportunitiy today, to observe a most interesting karabela sword. It was found in Postumia, famus for its caves resort, and for its tummultus history.
The owner let me to take some shots. I was visiting him regarding a different sword and eyes popped out when I saw this one on the wall.
Sadly time was not merciful with her and it is quite corroded. Very thin blade towards the point, where the edge is literally falling apart. But the engravings.... WOW... never seen such work. Heavily faded away, but still there. There is a head of with a tiara (a bishop or maybe a Pope) with a letter "M" and "P XI" or "I" hard to tell. And then again tho silhuettes with tiaras and a cavallry man or knight (pandour, landsknecht???) weaving a kilij.

Who had that sword?
Why are there "papal" figures on it?
Anybody recognises this symbols?
When it was made?

Any comment appreciated, as always!