New Issue: BNP Paribas prices $0.648 million 9.75% reverse convertibles linked to Starbucks

By Jennifer Chiou

New York, Sept. 28 - BNP Paribas priced $0.648 million of 9.75% down-and-in reverse convertible notes due March 29, 2007 linked to Starbucks Corp. stock, according to a BNP offering circular.

The payout at maturity will be par in cash unless Starbucks stock falls below the knock-in level of $29.283, 85% of its initial price, during the life of the notes.

If the knock-in level is hit, the payout at maturity is par in cash if the stock closes above its initial price on the valuation date of March 26, 2007. Otherwise, the payout is a number of Starbucks shares equal to $1,000 divided by the initial share price.

BNP Paribas is the underwriter. JVB Financial Group, LLC is the distributor.

Issuer:	BNP Paribas
Issue:	Reverse convertible notes
Underlying stock:	Starbucks Corp.
Amount:	$0.648 million
Maturity:	March 29, 2007
Coupon:	9.75%, payable monthly
Price:	Par
Payout at maturity:	A number of Starbucks shares equal to $1,000 divided by the initial share price if Starbucks stock falls by 15% or more and the stock finishes below the initial price, otherwise par in cash
Initial share price:	$34.45
Protection price:	$29.283, 85% of the initial share price
Pricing date:	Sept. 25
Settlement date:	Sept. 29
Underwriter:	BNP Paribas
Distributor:	JVB Financial Group, LLC

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