Published on 2/5/2013 in the Prospect News Structured Products Daily.
New Issue: BNP Paribas prices $3.49 million contingent buffered notes on Hang Seng China
By Jennifer Chiou
New York, Feb. 5 - BNP Paribas, New York Branch priced $3.49 million of 0% contingent buffered equity notes due Feb. 20, 2014 linked to the Hang Seng China Enterprises index and the spot rate of the deliverable Chinese renminbi, according to a term sheet.
If the index finishes at or above the 80% barrier level, the payout at maturity will be par plus any index gain up to a maximum return of 19.5% and with minimum payout of par.
Otherwise, investors will be fully exposed to any losses.
BNP Paribas Securities Corp. is the underwriter, with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
Issuer: | BNP Paribas
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Issue: | Contingent buffered equity notes
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Underlying index: | Hang Seng China Enterprises
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Amount: | $3.49 million
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Maturity: | Feb. 20, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above the barrier level, par plus any index gain capped at 19.5%, floor of par; otherwise, full exposure to any losses
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Initial index level: | 12,215.03
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Barrier level: | 80% of initial level
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Initial spot rate: | 6.2125
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Pricing date: | Feb. 1
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Settlement date: | Feb. 6
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Underwriter: | BNP Paribas Securities with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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Fees: | 1%
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Cusip: | 05574LEW4
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