Published on 3/15/2013 in the Prospect News Structured Products Daily.
New Issue: BNP Paribas prices $8.43 million return enhanced notes linked to S&P 500
By Susanna Moon
Chicago, March 15 - BNP Paribas, New York Branch priced $8.43 million of 0% return enhanced notes due March 26, 2014 linked to the S&P 500 index, according to a term sheet.
The payout at maturity will be par plus double any gain in the index, up to a maximum return of 15.8%.
Otherwise, investors will be fully exposed to losses.
BNP Paribas Securities Corp. is the underwriter, with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
Issuer: | BNP Paribas
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Issue: | Return enhanced notes
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Underlying index: | S&P 500
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Amount: | $8,428,000
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Maturity: | March 26, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 15.8%; exposure to any losses
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Initial index level: | 1,551.18
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Pricing date: | March 8
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Settlement date: | March 13
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Underwriter: | BNP Paribas Securities with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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Fees: | 1%
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Cusip: | 05574LGH5
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