BNP Paribas to price return enhanced notes due 2014 tied to Apple

By Toni Weeks

San Diego, Nov. 6 - BNP Paribas plans to price 0% return enhanced notes due Feb. 12, 2014 linked to Apple Inc. shares, according to a term sheet.

The payout at maturity will be par plus triple any gain in the price of Apple shares, up to a maximum return of 37.5%. The exact cap will be set at pricing.

Investors will be fully exposed to any losses.

The final share price will be the average of the closing price of Apple shares on the five trading days ending Feb. 7, 2014.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

The notes will price on Nov. 9 and settle Nov. 15.

The Cusip number is 05574LCD8.

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