Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Exxon Mobil Corp. > News item |
BNP plans dual directional notes linked to basket of five oil stocks
New York, Oct. 2 – BNP Paribas plans to price 0% dual directional notes due Oct. 30, 2020 linked to a basket of five oil stocks, according to a term sheet.
The basket is made up of BP plc, Chevron Corp., Exxon Mobil Corp., Royal Dutch Shell plc and Total SA, all equally weighted.
If the basket finishes above its initial level, the payout at maturity will be par plus the basket return.
If the basket declines but finishes at or above the barrier level, 51% to 55% of its initial level, the payout at maturity will be par plus the absolute value of the basket return.
If the basket finishes below the barrier level, investors will be fully exposed to the decline in the basket from its initial level.
The exact barrier level will be set at pricing.
BNP Paribas is the agent.
The notes will price on Oct. 27 and settle on Oct. 30.
The Cusip number is 05579THP4.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.