BNP Paribas to price buffered uncapped return notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., June 13 - BNP Paribas plans to price 0% buffered uncapped return notes due Dec. 28, 2017 linked to the S&P 500 index, according to a term sheet.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return. Investors will receive par if the final index level is less than the initial level but greater than or equal to the buffer level, which is expected to be 81% to 85% of the initial level and will be set at pricing. Investors will lose 1% for every 1% that the index declines, if any, below the buffer level.

BNP Paribas Securities Corp. is the agent. Advisors Asset Management, Inc. is distributor.

The notes are expected to price June 25 and settle June 28.

The underwriting discount will be up to 2.25%, and some broker-dealers may receive additional commissions or referral fees of up to 0.75%.

The Cusip number is 05574LKA5.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.