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BNP Paribas plans buffered return enhanced notes on S&P 500 index
By Jennifer Chiou
New York, Nov. 6 - BNP Paribas plans to price 0% buffered return enhanced notes due Nov. 30, 2015 linked to the S&P 500 index, according to a term sheet.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus 1.5 times the index return, subject to a maximum return of 15% to 18%.
Investors will receive par if the index falls by up to 10% and will be exposed to any index decline beyond the 10% buffer.
The exact terms will be set at pricing.
The notes (Cusip: 05574LS90) are expected to price on Nov. 25 and settle on Nov. 29.
BNPP Securities is the agent.
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