BNP Paribas set to issue autocallable dual directional notes on banking ETF

By Emma Trincal

New York, Oct. 6 – BNP Paribas was expected to issue 0% autocallable dual directional notes due Oct. 5, 2026 linked to the SPDR S&P Regional Banking ETF, according to a term sheet.

The notes will be called automatically at par plus a premium of 14% if the ETF closes at or above its initial level on Oct. 2, 2024.

If the ETF finishes at or above its initial level, the payout at maturity will be par plus the return.

If the ETF finishes negative but at or above its 60% barrier, the payout will be par plus the absolute value of the ETF return.

Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.

BNP Paribas Securities Corp. is the agent.

The notes were expected to price on Sept. 29 and to settle on Oct. 4.

The Cusip number is 05610P7G4.

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