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BNP plans buffered return enhanced notes on S&P 500, two ETFs
New York, Sept. 12 – BNP Paribas plans to price 0% buffered return enhanced notes due Sept. 29, 2022 linked to a basket made up of the S&P 500 index with a 50% weight, the iShares MSCI EAFE exchange-traded fund with a 40% weight and the iShares MSCI Emerging Markets exchange-traded fund with a 10% weight, according to a term sheet.
The payout at maturity will be par plus 110% to 120% of the basket return. The exact rate will be set at pricing.
The payout will be par if the basket declines by up to 20% and investors will lose 1% for each 1% decline beyond 20%.
BNP Paribas Securities Corp. is the agent.
The notes will price on Sept. 26 and settle on Sept 29.
The Cusip number is 05583R3V4.
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