Published on 3/7/2013 in the Prospect News Structured Products Daily.
New Issue: BNP Paribas prices $1.07 million contingent buffered notes linked to Hang Seng China
By Toni Weeks
San Luis Obispo, Calif., March 7 - BNP Paribas priced $1.07 million of 0% contingent buffered equity notes due March 12, 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 20%.
Otherwise, investors will be fully exposed to 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: | $1.07 million
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Maturity: | March 12, 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 barrier level, par plus any index gain capped at 20%; otherwise, full exposure to losses
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Initial index level: | 11,317.13
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Barrier level: | 80% of initial level
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Initial spot rate: | 6.2348
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Pricing date: | Feb. 22
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Settlement date: | Feb. 27
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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: | 05574LFT0
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