By Angela McDaniels
Tacoma, Wash., April 1 - BNP Paribas priced $1.06 million of 0% contingent buffered equity notes due April 9, 2014 linked to the performance of the Hang Seng China Enterprises index and the deliverable Chinese renminbi, according to a term sheet.
The underlying asset performance will be the percentage change from the initial underlying level - the initial index level multiplied by the initial currency rate - to the final underlying level, which will be the final index level multiplied by the final currency rate.
If the underlying asset performance is greater than or equal to negative 20%, the payout at maturity will be par plus the underlying asset performance, subject to a minimum payout of par and a maximum payout of 122% of par.
If the underlying asset performance is less than negative 20%, investors will be fully exposed to the decline from the initial level.
BNP Paribas Securities is the agent.
| Issuer: | BNP Paribas
|
| Issue: | Contingent buffered equity notes
|
| Underlyings: | Hang Seng China Enterprises index and deliverable Chinese renminbi
|
| Amount: | $1.06 million
|
| Maturity: | April 9, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If underlying asset performance is greater than or equal to negative 20%, par plus underlying asset performance, subject to minimum payout of par and maximum payout of 122% of par; otherwise, full exposure to decline from initial level
|
| Initial levels: | 10,896.48 for index; 6.2065 for currency
|
| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | BNP Paribas Securities
|
| Fees: | 1%
|
| Cusip: | 05574LGQ5
|
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