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BNP Paribas plans buffered return enhanced notes tied to Russell 2000
By Toni Weeks
San Luis Obispo, Calif., March 12 - BNP Paribas plans to price 0% buffered return enhanced notes due Sept. 30, 2016 linked to the Russell 2000 index, according to a term sheet.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus 1.25 times the index return, subject to a maximum return of 20% to 25% that will be set at pricing. Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% that it declines beyond the 10% buffer.
BNP Paribas Securities Corp. is the agent. Advisors Asset Management, Inc. is the distributor.
The notes are expected to price March 26 and settle March 31.
The Cusip number is 05574LWV6.
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