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BNP plans to price buffered return enhanced notes on biotech ETF
By Emma Trincal
New York, July 6 – BNP Paribas plans to price 0% buffered return enhanced notes due July 17, 2023 linked to the SPDR S&P Biotech exchange-traded fund, according to a term sheet.
The payout at maturity will be par plus 3 times any gain of the ETF.
Investors will receive par if the ETF falls by up to 20% and will lose 1.25% per 1% drop beyond 20%.
The notes will be guaranteed by BNP Paribas acting through its NY Branch.
BNP Paribas Securities Corp. is the agent.
The notes will price on July 10 and settle on July 15.
The Cusip number is 05583R3T9.
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