Published on 1/15/2013 in the Prospect News Structured Products Daily.
New Issue: BNP Paribas prices $5.1 million quarterly review notes on Brent crude
By Marisa Wong
Madison, Wis., Jan. 15 - BNP Paribas priced $5.1 million of 0% quarterly review notes due Jan. 23, 2014 linked to Brent crude oil, according to a term sheet.
The notes will be called at par plus a premium if the price of Brent crude closes above the call level on any of three call dates. The notes will be called at $1,037.50 for each $1,000 principal amount if the price of Brent crude closes above its initial level on April 18, at $1,075 for each $1,000 principal amount if the price of Brent crude closes above the 95% call level on July 18, 2013 or at $1,112.50 for each $1,000 principal amount if the price of Brent crude closes above the 90% call level on Oct. 18, 2013.
If the notes are not called and the price of Brent crude finishes above the 85% barrier level, the payout at maturity will be par plus 15%.
Otherwise, investors will be exposed to any losses.
BNP Paribas Securities is the underwriter with JPMorgan as placement agent.
| Issuer: | BNP Paribas
|
| Issue: | Quarterly review notes
|
| Underlying asset: | Brent crude oil
|
| Amount: | $5,096,000
|
| Maturity: | Jan. 23, 2014
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | If Brent crude finishes above barrier price, par plus 15%; otherwise, full exposure to losses
|
| Call: | At $1,037.50 per note if price of Brent crude closes above initial price on April 18, at $1,075 per note if price closes above 95% call level on July 18, 2013 or at $1,112.50 per note if price closes above 90% call level on Oct. 18, 2013
|
| Initial price: | $110.64
|
| Barrier price: | $94.0440, 85% of initial price
|
| Pricing date: | Jan. 11
|
| Settlement date: | Jan. 16
|
| Underwriter: | BNP Paribas Securities is the underwriter with JPMorgan as placement agent
|
| Fees: | 1%
|
| Cusip: | 05574LEG9
|
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