BNP Paribas to price 19.5% reverse convertibles linked to GM

By Angela McDaniels

Seattle, Aug. 7 - BNP Paribas plans to price an issue of 19.5% down-and-in reverse convertible notes due Feb. 28, 2007 linked to General Motors Corp. stock, according to a BNP term sheet.

The payout at maturity will be par unless General Motors stock falls below the knock-in level of 75% of its initial price during the life of the notes and closes below its initial price on the valuation date of Feb. 26, 2007, in which case the payout will be a number of General Motors shares equal to $1,000 divided by the initial share price.

The securities are expected to price on Aug. 25 and settle on Aug. 30.

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

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