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BNP Paribas plans twin-win notes with 65%-69% trigger tied to S&P 500
By Susanna Moon
Chicago, June 14 - BNP Paribas plans to price 0% twin-win notes due June 30, 2014 linked to the S&P 500 index, according to a term sheet.
If the index finishes above the initial level, the payout at maturity will be par plus the index gain.
If the index finishes below the initial level but never closes below the 65% to 69% knock-out level during the life of the notes, the payout will be par plus the absolute return, up to a downside return cap of 31% to 35%.
Otherwise, investors will be fully exposed to any losses.
BNP Paribas Securities is the agent. Advisors Asset Management, Inc. is the distributor.
The notes will price on June 26 and settle on June 29.
The Cusip number is 05567L5T0.
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