By Jennifer Chiou
New York, July 26 - BNP Paribas priced $5.579 million of 19% down-and-in reverse convertible notes due Jan. 25, 2007 linked to Peabody Energy Corp. stock, according to a BNP offering circular.
The payout at maturity will be par in cash unless Peabody Energy stock falls below the knock-in level of $33.525, 75% of its initial price, during the life of the notes.
If the knock-in level is hit, the payout at maturity is par in cash if the stock closes above its initial price on the valuation date of Jan. 22, 2007. Otherwise, the payout is a number of Peabody Energy shares equal to $1,000 divided by the initial share price.
BNP Paribas is the underwriter. JVB Financial Group, LLC is the distributor.
| Issuer: | BNP Paribas
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| Issue: | Reverse convertible notes
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| Underlying stock: | Peabody Energy Corp.
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| Amount: | $5.579 million
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| Maturity: | Jan. 25, 2007
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| Coupon: | 19%, payable monthly
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| Price: | Par
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| Payout at maturity: | A number of Peabody Energy shares equal to $1,000 divided by the initial share price if Peabody Energy stock falls by 25% or more and the stock finishes below the initial price, otherwise par in cash
|
| Initial share price: | $44.70
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| Protection price: | $33.525, 75% of the initial share price
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| Pricing date: | July 21
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| Settlement date: | July 26
|
| Underwriter: | BNP Paribas
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| Distributor: | JVB Financial Group, LLC
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