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BNP to sell leveraged notes on S&P 500, MSCI EAFE and MSCI EM ETFs
New York, July 7 – BNP Paribas plans to sell 0% leveraged notes due July 29, 2021 linked to the S&P 500 index, the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets exchange-traded fund, according to a term sheet.
The S&P 500 will have a 53% weight, the MSCI EAFE ETF a 42% weight and the MSCI Emerging Markets ETF a 5% weight.
If the final basket level is greater than or equal to the initial level, the payout at maturity will be par plus at least 114% of the basket return.
Investors will receive par if the basket falls by up to 50% and will be fully exposed to any basket decline from the initial level if it drops beyond the 50% barrier.
The exact terms will be set at pricing.
BNP Paribas is the agent.
The notes are expected to price on July 26 and settle on July 29.
The Cusip is 05579TQ82.
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