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BNP Paribas plans autocallable leveraged notes on S&P 500
By Emma Trincal
New York, June 12 – BNP Paribas plans to price 0% autocallable leveraged notes due Aug. 3, 2027 linked to the S&P 500 index, according to a term sheet.
The notes will be called at par plus a call premium of 9.5% if the index finishes at or above its initial level on July 31, 2023.
If the notes are not called, the payout at maturity will be par plus 260% the return of the index.
If the index declines but finishes at or above the 70% barrier level, the payout will be par.
Otherwise, investors will be fully exposed to the index decline.
BNP Paribas Securities Corp. is the agent.
The notes are expected to price on July 29 and settle on Aug. 3.
The Cusip number is 05601WW80.
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