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BNP plans buffered notes linked to PowerShares S&P 500 low volatility
New York, March 6 – BNP Paribas plans to price 0% buffered notes due March 31, 2020 linked to the performance of the PowerShares S&P 500 Low Volatility Portfolio, according to a term sheet.
If the ETF’s final price is greater than or equal to the initial price, the payout at maturity will be par plus the ETF return.
Investors will receive par if the ETF declines by up to 15% and will lose 1% for each 1% that the ETF drops beyond 15%.
The exact terms will be set at pricing.
The notes (Cusip: 05579TC38) are expected to price on March 26 and settle on March 31.
BNP Paribas Securities Corp. is the agent.
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