Published on 10/10/2013 in the Prospect News Structured Products Daily.
New Issue: BNP Paribas prices $1 million contingent variable-income notes linked to five stocks
By Toni Weeks
San Luis Obispo, Calif., Oct. 10 - BNP Paribas priced $1 million of contingent variable-income notes due Oct. 8, 2020 linked to a basket of five stocks, according to a term sheet.
The underlying stocks include AbbVie Inc., Altria Group Inc., AT&T Inc., ConocoPhillips and General Electric Co.
If each stock closes at or above its initial price on any annual valuation date, the notes will pay a coupon of 12.25% for that year. If the closing price of any underlying stock is less than its initial price on a valuation date, the coupon will be 1%. Interest is payable annually.
The payout at maturity will be par plus the contingent coupon payment, if any.
BNPP Securities is the agent.
Issuer: | BNP Paribas
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Issue: | Contingent variable-income notes
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Underlying stocks: | AbbVie Inc. (Symbol: ABBV), Altria Group Inc. (Symbol: MO), AT&T Inc. (Symbol: T), ConocoPhillips (Symbol: COP) and General Electric Co. (Symbol: GE)
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Amount: | $1 million
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Maturity: | Oct. 8, 2020
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Contingent payment: | If each stock closes at or above its initial price on annual valuation date, 12.25%; otherwise 1%; payable annually
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Price: | Par
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Payout at maturity: | Par plus contingent payment, if any
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Initial share prices: | $46.01 for AbbVie, $34.70 for Altria, $33.64 for AT&T, $70.17 for ConocoPhillips and $24.10 for GE
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Pricing date: | Oct. 3
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Settlement date: | Oct. 8
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Agent: | BNPP Securities
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Fees: | up to 4%
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Cusip: | 05574LQQ4
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