Indicative Termsheet
Certificate with barrier and Lookback
on the CAC 40® Index, the EURO STOXX 50® Index, the Nikkei 225® Index
and the S&P 500® Index in Quanto USD 2014 - 2016
Picard Angst Investment Solutions Ltd.
This structured product is not deemed to be a collective capital investment in the meaning of Art. 7 et seqq.
CISA and it is not subject to the supervision of the Swiss Financial Market Supervisory Authority.
1. Product description
Product Information
Issue Price
100.00%
Nominal Value
USD 1'000.00
Bonuslevel
0.00%
Underlying
Title
Bloomberg
Lower Barrier
CAC 40® Index
EURO STOXX 50® Index
Nikkei 225® Index
S&P 500® Index
CAC
SX5E
NKY
SPX
65.00%
65.00%
65.00%
65.00%
Lower Barrier
65.00%
Observation period
22.03.2016 (at maturity)
Currency
Quanto USD
CH Valors / ISIN
23213054 / XS1061877541
Maturity
Maturity
1 year 6 months
Initial Fixing Date
19.09.2014 - 17.10.2014 (Lookback feature)
Payment Date
26.09.2014
Final Fixing Date
22.03.2016 (official closings)
Redemption Date
29.03.2016
Lookback observation
minimum closing level for each share on every trading business day during the obsevation period
Issue Information
Page 1/3
Issuer
BNP Paribas Arbitrage Issuance B.V., Amsterdam, the Netherlands
Guarantor
BNP Paribas S.A., Paris, France (Rating: A+/A1)
Calculation Agent
BNP Paribas Arbitrage S.N.C., Paris, France
Advisor
Picard Angst Investment Solutions Ltd., Pfäffikon SZ
Notional Amount
USD 5'000'000.00
Picard Angst
Investment Solutions Ltd.
Bahnhofstrasse 13-15, CH-8808 Pfäffikon SZ, Telephone +41 (0)55 290 55 55
Rue de la Croix-d'Or 7, CH-1204 Geneva, Telephone +41 (0)22 989 50 00
www.picardangst.ch
[email protected]
Indicative Termsheet
Certificate with barrier and Lookback
Tel: (+41) 55 289 00 00
Redemption Mode
Redemption
The product will be redeemed according to the following Scenarios:
Scenario 1
If none of the underlyings reaches or breaches its barrier during the observation period, the product
will be paid out as follows:
Scenario 2
If minimum one of the underlyings ever reaches or breaches its barrier during the observation period,
the product will be paid out as follows:
Where:
Nominal Value
Bonus
Official closing of the underlying with the least performance on the final
fixing date
Official closing of the underlying with the least performance on the initial
fixing date
Settlement type
Cash delivery on redemption.
Further Information
Page 2/3
Taxation
No Swiss Withholding Tax. For Swiss Private Investors the possible profit in case of sale or redemption
is considered as a tax-free capital profit (for a certificate with maturity of one or less than one year). For
a certificate with maturity of more than a year the difference between Bondfloor (Bondfloor at
purchase respectively) and Bondfloor at maturity (Bondfloor at sale respectively) is submitted to Swiss
Income Tax for Swiss Private Investors. The taxation mentioned above applies on the issue date. The
tax legislation and Internal Revenue Service practice can change at any time.
Bondfloor
99.13%
EU Interest Taxation
No EU Interest Taxation for Swiss paying agents (out-of-scope)
Clearing/Settlement
Clearstream
Selling Restrictions
USA, US-Persons
Governing Law /
Jurisdiction
ENGLISH LAW / COURTS OF ENGLAND AND WALES
Supervision
BNP Paribas is authorised and supervised by the Autorité de Contrôle Prudentiel et de Résolution
(ACPR).
Listing
None
Minimum Trading
Size
1 instrument
Secondary market
BNP Paribas envisages to provide under normal market conditions a liquid secondary market (max.
spread: 1%).
SVSP category
Bonus Certificate (1320)
Picard Angst
Investment Solutions Ltd.
Bahnhofstrasse 13-15, CH-8808 Pfäffikon SZ, Telephone +41 (0)55 290 55 55
Rue de la Croix-d'Or 7, CH-1204 Geneva, Telephone +41 (0)22 989 50 00
www.picardangst.ch
[email protected]
Indicative Termsheet
Certificate with barrier and Lookback
Tel: (+41) 55 289 00 00
2. Prospects for Profits and Losses
Payoff
Short description
By investing in a Bonus Certificate, the investor participates fully in the performance of the underlying.
The investor will profit from a bonus payment even if the underlying moves sideways.
If the underlying hits or breaks through its barrier at any time, the Bonus Certificate will have the same
repayment profile as a direct investment.
3. Significant Risks
Market risk
The general market performance of securities is dependent, in particular, on the development of the
capital markets which, for their part, are influenced by the general global economic situation as well as
by the economic and political framework conditions in the respective countries (so-called market risk).
Changes to market prices such as interest rates, commodity prices or corresponding volatilities may
have a negative effect on the valuation of the underlying(s) or the product. There is also the risk of
market disruptions (such as trading or stock market interruptions or discontinuation of trading) or
other unforeseeable occurrences concerning the respective underlyings and/or their stock exchanges
or markets taking place during the term or upon maturity of the products. Such occurrences can have
an effect on the time of redemption and/or on the value of the products.
Currency risk
The investor is exposed to a currency risk if the currency of the product is different from the investor’s
reference currency or if the underlying / underlyings is / are denominated in a currency other than the
product's reference currency (exception: quanto structure).
Issuer risk
The investor is exposed to the default risk of the issuer/guarantor. The value of the product depends
not only on the performance of the underlying, but also on the creditworthiness of the issuer /
guarantor, which may change during the term of the product.
Liquidity risk
The issuer envisages to provide under normal market conditions a liquid secondary market. However
there is no legal obligation to quote. In special market situations, where the issuer is unable to enter
into hedging transactions, or where such transactions are difficult to enter into, the spread between the
bid and offer prices may be temporarily expanded.
The table and data are not intended as a recommendation of the respective underlying security. They do not result from a financial analysis and therefore are not governed by the
"Guidelines on the Independence of Financial Analysis". This document is a marketing tool and is intended for information only. It is neither an offer or invitation to tender nor a
recommendation to purchase financial products. This document is intended for the exclusive use of the recipient. All information is provided without guarantee. This term sheet is not
intended as an issuing prospectus under Article 652a/1156 OR, neither a listing prospectus in the sense of the listing rules nor a simplified prospectus under Article 5 of the Federal
Act on Collective Investment Schemes (CISA). Detailed information relating to the product and the issuer's original and only authoritative simplified prospectus are available from
Picard Angst Investment Solutions Ltd., 8808 Pfäffikon SZ (Tel: +41 (0)55 290 55 55). Picard Angst Investment Solutions Ltd. can make or receive payments to or from third parties in
connection with this transaction. Any such payments may be of a one-time or recurring nature. This structured product is not deemed to be a collective capital investment in the
meaning of Art. 7 ff. CISA and it is not subject to the supervision of the Swiss Financial Market Supervisory Authority. The investor is exposed to the default risk of the
issuer/guarantor. Changes to the conditions for this product that have not been contractually agreed upon and occur unexpectedly during the term of investment (ex. as a result of
Corporate Actions) can be found under www.picardangst.ch. The information provided herein is not designed to replace advice from your own bank, which should be sought prior to
entering into any derivatives transaction. Transactions of this kind should only be entered by investors who are absolutely clear about the inherent risks and who are in a position to
sustain any losses that may result from them. We also refer you to the brochure "Risks of Securities Trading", which can be ordered from us.
CAC 40 is a registered trademark of Euronext Paris SA designating the index calculated and published by Euronext Paris SA. Euronext Paris SA does not guarantee the value of the
index at any given time or the results or performance of products pegged to this index.
The EURO STOXX 50® Index and the trademarks used in the index name are the intellectual property of STOXX Limited, Zurich, Switzerland and/or its licensors. It has been licensed
for the use by the issuer.
The Nikkei 225 (Index) is an intellectual property and a service mark of Nikkei, Inc. It has been licensed for the use by the issuer.
Standard & Poor's®, S&P-®, S & P 500-®, Standard & Poor's 500 are trademarks of the Mc Graw-Hill Companies, Inc. and have been licensed for the use by the issuer.
Pfäffikon SZ, 19.09.2014
Page 3/3
Picard Angst
Investment Solutions Ltd.
Bahnhofstrasse 13-15, CH-8808 Pfäffikon SZ, Telephone +41 (0)55 290 55 55
Rue de la Croix-d'Or 7, CH-1204 Geneva, Telephone +41 (0)22 989 50 00
www.picardangst.ch
[email protected]