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BNP Paribas offering five-year leveraged notes tied to S&P 500 index
New York, Oct. 7 – BNP Paribas plans to price 0% leveraged notes due Oct. 28, 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 par and par plus at least 100% of the index return.
Otherwise, investors will be fully exposed to the index’s decline.
The barrier level is expected to be 50% of the initial index level. The exact barrier level and participation rate will be set at pricing.
BNP Paribas is the agent.
The notes will price on Oct. 25 and settle on Oct. 28.
The Cusip number is 05579TRS7.
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