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BNP Paribas plans to price five-year leveraged notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 5 – BNP Paribas plans to price 0% leveraged notes due Jan. 29, 2021 linked to the S&P 500 index, according to a term sheet.
If the final index level is greater than or equal to the barrier level, the payout at maturity will be the greater of (a) par and (b) par plus 100% to 110% of the index return. Otherwise, investors will be fully exposed to the index’s decline.
The barrier level is expected to be 55% of the initial index level. The exact barrier level and participation rate will be set at pricing.
BNP Paribas Securities Corp. is the agent.
The notes will price Jan. 26.
The Cusip number is 05579TKL9.
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