Published on 1/23/2013 in the Prospect News Structured Products Daily.
New Issue: BNP Paribas prices $5.12 million contingent buffered notes on Hang Seng China Enterprises
By Angela McDaniels
Tacoma, Wash., Jan. 23 - BNP Paribas priced $5.12 million of 0% contingent buffered equity notes due Feb. 3, 2014 linked to the performance of the Hang Seng China Enterprises index and the spot rate of the Hong Kong dollar, according to a term sheet.
The initial index level and final index level are converted into U.S. dollars from Hong Kong dollars at the exchange rate then in effect.
If the index return is greater than or equal to negative 20%, the payout at maturity will be par plus the index return, subject to a minimum payout of par and a maximum payout of 120% of par. If the index return is less than negative 20%, investors will be fully exposed to the index's decline from its initial level.
BNP Paribas Securities Corp. is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers.
| Issuer: | BNP Paribas
|
| Issue: | Contingent buffered equity notes
|
| Underlying index: | Hang Seng China Enterprises
|
| Amount: | $5.12 million
|
| Maturity: | Feb. 3, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is greater than or equal to negative 20%, par plus index return, subject to minimum payout of par and maximum payout of 120% of par; if index return is less than negative 20%, full exposure to index's decline from initial level
|
| Initial index level: | 1,561.44, which is 12,105.71 multiplied by initial spot rate
|
| Final index level: | Index's closing level on Jan. 29, 2014 multiplied by final spot rate
|
| Initial spot rate: | 0.128984 U.S. dollars per Hong Kong dollar
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 24
|
| Agent: | BNP Paribas Securities Corp.
|
| Dealers: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 05574LEM6
|
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