BNP Paribas Issuance B.V. (NL) Lock-in Certificate MSCI World 2030 in USD
Promotional communication
You are looking for an investment targeting investors who wish to diversify their portfolio and who desire to benefit, at maturity on February 26ᵗʰ, 2030, from a right to redemption of the capital at 100% of the nominal value¹, as well as a potential redemption premium in USD².
You are about to purchase a product which is not simple, and which may be difficult to understand. This promotional communication is aimed at investors located in Belgium.
Type of the investment
BNP Paribas Issuance B.V. (NL) Lock-in Certificate MSCI World 2030 in USD is a structured debt security (hereinafter the "Certificate(s)") issued by BNP Paribas Issuance B.V.. By subscribing to it, you are lending money to the Issuer which undertakes to repay you on the Final Redemption Date, February 26ᵗʰ, 2030, the invested capital¹ ³ in USD. In the event of bankruptcy of the Issuer, as well as in the event of the bankruptcy or bail-in (in that case, the resolution authorities could require a restructuring to avoid bankruptcy) of the Guarantor, investors may lose some or all or of the capital they have invested.
This offer is available from 03/02/2025 to 21/02/2025 inclusive (except in case of early closure).
Key features of the Certificate
- Type of investment: Structured debt security with the right to redemption of the capital at maturity (hereinafter the "Certificate(s)"). By subscribing to this Certificate, the investor lends money to the Issuer which undertakes to repay the invested capital¹ on the Final Redemption Date, February 26ᵗʰ, 2030, in USD. In the event of bankruptcy of the Issuer, as well as in the event of the bankruptcy or bail-in (in that case, the resolution authorities could require a restructuring to avoid bankruptcy) of the Guarantor, investors may lose some or all or of the capital they have invested.
- Issuer: BNP Paribas Issuance B.V.⁴
- Guarantor: BNP Paribas S.A.⁴
- Investment period: 5 years (matures 26/02/2030)
- Subscription period: from 03/02/2025 to 21/02/2025 inclusive (except in case of early closure).
- Nominal value per Certificate: USD 1,000
- Minimum subscription amount: USD 10,000
- Issue price: 100% of the nominal value (i.e. USD 1,000 per Certificate)
- Fees: The total amount of fees for the BNP Paribas Issuance B.V. (NL) Lock-in Certificate MSCI World 2030 in USD is a maximum of 5.00% of the nominal value, corresponding to a maximum amount of USD 50.00 per Certificate, i.e. a maximum of 1.00% per annum (maximum USD 10.00 per Certificate per annum). This amount includes structuring fees and distribution fees (both included in the issue price). As of 27/01/2025, the total fee amount was 3.10% (i.e. USD 31.00 per Certificate)⁵.
The essentials
The BNP Paribas Issuance B.V. (NL) Lock-in Certificate MSCI World 2030 in USD offer, at maturity⁶, i.e. on February 26ᵗʰ, 2030, a right to repayment of capital at 100% of the nominal value¹ as well as a potential redemption premium in USD².
The potential redemption premium is linked to the evolution of the MSCI World Price USD Index⁷ (hereinafter "Index"), a global equity benchmark, composed of companies spread over 23 developed countries in Europe, the Americas and Asia.
By linking its potential return to the performance of the Index, the BNP Paribas Issuance B.V. (NL) Lock-in Certificate MSCI World 2030 allows the prudent investor to target the potential of a highly diversified global equity portfolio without investing directly in equities.
Thus, at maturity⁶, investors may benefit from any positive performance of the Index, up to a maximum of 40.00%² gross (i.e. 28.00% net) (i.e. a gross actuarial yield of 6.96%⁸ and net 5.06%⁹), while benefiting from an annual Lock-in mechanism. The latter makes it possible, in the event of activation, to safeguard certain intermediate performance levels achieved by the Index in previous years⁶ regardless of the performance of the Index at maturity⁶.
The repayment of the invested capital¹ ³ and the potential redemption premium² will be made in USD (US dollar) and may therefore be reduced or increased in the event of conversion to EUR depending on exchange rate fluctuations and any exchange costs (the investor may therefore potentially suffer a capital loss in EUR). This risk is even increased for investors who do not have an account denominated in USD and for whom the repayment of the capital is automatically converted into EUR.
Lock-in Mechanism
From year 1 to year 4, on each of the Annual Observation Dates of the Lock-in Mechanism⁶, the closing level of the MSCI World Price Index USD is observed and compared to its initial level used on the Initial Compliance Date on February 26th, 2025:
If, on one of the Annual Compliance Dates of the Lock-in Mechanism⁶, the index closes at a level equal to or higher than one of the 6 activation thresholds of the Lock-in mechanism, the latter is automatically activated without intervention of the investor and a minimum level of repayment of the capital is safeguarded² ³.
The thresholds for activating the lock-in mechanism and the corresponding minimum repayment levels are set out below:
Activation of the lock-in mechanism is definitive and offers the investor the possibility of receiving, at maturity⁶, the highest level of repayment of safeguarded capital² ³ even in the event of a negative final performance of the Index.
Redemption mechanism at maturity
On the Final Observation Date⁶, the final level of the MSCI World Price Index USD is observed and compared to its initial level, which makes it possible to obtain its final performance. There are two possible scenarios:
Overview of the MSCI World Price Index USD
The MSCI World Price Index USD is the benchmark index for global equities.
It includes around 1,500 large- and mid-cap stocks (as 27/01/2025, 1,385 stocks) spread over 23 developed countries and covering many market sectors. It covers approximately 85% of the global market capitalization, with the US having a dominant weighting with almost 75% of the geographical distribution of the Index.
As it is a "Price Return" index and as opposed to a "Total Return" index, its performance will only be influenced by changes in share prices and not by dividends paid on the basis of these shares. These dividends are not reinvested in the Index.
For more information on this Index, please visit: https://www.msci.com/indexes/index/990100.
ISIN code: GB00BJDQQQ59
ISIN code: GB00BJDQQQ59
Fees and taxes borne by the investor
Fees included in the issue price
- One-off structuring fee: maximum 2.00% of the amount of securities actually invested. For information purposes: this amount is 1.30% based on the conditions observed before the start of the subscription period.
- One-off distribution costs borne by the investor: the distributor buys the Certificate from the issuer at a price lower than the issue price. The difference between this purchase price and the issue price constitutes distribution fees, set at a maximum of 3.00%. For information purposes: this amount is 1.80% based on the conditions observed before the start of the subscription period.
Fees not included in the issue price
Entry fees: none
Exit fees:
- At maturity of the securities: none;
- In the event of sale before maturity: exit fees of 0.50% maximum, i.e. half of the buy-sell range of 1.00%, will be deducted by the issuer under normal market conditions (excluding any taxes and tax on stock market transactions). In addition, transaction fees that may be up to 0.60% may be charged by the distributor. For more information, please consult the pricing conditions on the https://www.degroofpetercam.com/en-be/general-terms-and-conditions-legal-documentation website, under the heading "Charges conditions – Private Banking" or on the Indosuez Wealth Management Europe website, branch in Belgium https://belgium.ca-indosuez.com/pdfPreview/44625.
Foreign exchange fees: for any foreign exchange transaction (at the time of subscription, in the event of resale or at maturity), foreign exchange fees may be collected by the distributor. These are available on the https://www.degroofpetercam.com/en-be/general-terms-and-conditions-legal-documentation website, under the heading "Charges conditions – Private Banking" or on the Indosuez Wealth Management Europe website, branch in Belgium https://belgium.ca-indosuez.com/pdfPreview/44625.
Other fees: for detailed information on other fees relating to the financial services provided by the distributor to its clients (in particular the fees for holding a securities account), please consult the pricing conditions on the https://www.degroofpetercam.com/en-be/general-terms-and-conditions-legal-documentation website, under the heading "Charges conditions – Private Banking" or on the Indosuez Wealth Management Europe website, branch in Belgium https://belgium.ca-indosuez.com/pdfPreview/44625.
Taxation applicable to private investors residing in Belgium: This document does not provide legal, tax, or financial advice. Tax treatment varies based on individual circumstances and may change over time. The following applies to an average retail investor who is a natural person residing in Belgium, unless legal provisions change:
- Withholding tax: 30%
- Stock Exchange Transaction Tax ("TOB") of 0.12% on sales and purchase on the secondary market (with a maximum of EUR 1,300). No TOB applies to primary market subscriptions.
Main risks
The main risks inherent in the BNP Paribas Issuance B.V. (NL) Lock-in Certificate MSCI World 2030 in USD are detailed in the brochure on page 12. Investors are advised to consult the risk factors set out in the Legal Documentation. These include:
Credit Risk: By purchasing this Certificate, investors are exposed to the credit risk of the Issuer and the Guarantor. If either fails to meet their payment obligations, investors risk losing both their invested capital at maturity and any potential redemption premium in USD. Should the Guarantor experience serious solvency problems, the Certificates may be wholly or partially cancelled or converted into equity instruments (shares), depending on a decision by the regulator to proceed with debt restructuring (bail-in)¹⁰ with the aim of avoiding bankruptcy of the Guarantor, in accordance with the provisions of the Directive 2014/59/EU, as amended by Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 2019 (the «Bank Recovery and Resolution Directive» or «BRRD»). In such a scenario, investors may incur losses, whereas more senior creditors, such as deposit holders, may not.
Currency Risk: This Certificate is issued in US dollars. This implies that, upon maturity or in the event of resale prior to maturity, investors could receive an amount in USD which, when converted into EUR, may be lower than the amount in EUR initially invested depending on fluctuations in the exchange rate and the exchange fees applied at the time of conversion. Currency risk is particularly high for investors without a USD-denominated account, as their redemption amount will be automatically converted into EUR.
Risk of poor performance of the underlying and of limited performance: The potential redemption premium depends on the performance of the Index. If the Index performs poorly, returns on the Certificate may be lower than those of a risk-free product.
The final return is capped at 40.00%, i.e. a gross annual actuarial return of 6.96%⁹, even if the Index outperforms this level.
The final return is capped at 40.00%, i.e. a gross annual actuarial return of 6.96%⁹, even if the Index outperforms this level.
Index risk: Should an event occur that affects the underlying Index, as listed in the Base Prospectus (including, but not limited to, deletion, disruption or modification), the calculation agent (BNP Paribas Financial Markets SNC) may, if necessary, take various actions such as, in particular, adjusting the Index, substituting the Index or asking the issuer to redeem the Certificate under the conditions provided for in the Base Prospectus. In the Certificate is redeemed by the Issuer:
- if the event affecting the Index is a case of force majeure, the redemption will be made early at market value (see the paragraph “Possible early redemption”);
- in the event is not a case of force majeure, but is the consequence of an external event not attributable to the Issuer and which would materially change the economics of the contract, the Issuer will give investors the option either to redeem the Certificate early at market value, or to redeem the Certificate on the maturity date of at least 100% of the nominal value of the Certificate in accordance with the provisions of the Base Prospectus. For more information regarding these risks, please refer to the Base Prospectus and its supplements.
Liquidity risk: These Certificates will not be listed on a regulated market. BNP Paribas Financial Markets SNC will provide liquidity by buying them, except in exceptional circumstances. Investors wishing to sell their securities before maturity must sell them at the price determined by BNP Paribas Financial Markets SNC based on the current market parameters and taking into account the applicable fees and taxes. For more details, please refer to the Fees and Taxes section on page 10 of the brochure. The resale price could be lower than the nominal value per Certificate (1,000 USD), which would result in a capital loss in the event of resale before maturity.
Risk of fluctuation in the price of the Certificate : Investors should be aware that the price of the Certificates may, during the term of this Certificate, be lower than the amount of capital invested (excluding fees). Investors could therefore suffer a capital loss if the Certificates are sold before maturity. In addition, they must ensure that their investment horizon corresponds to the investment period of the Certificate. The right to repayment of 100% of the capital in USD is valid only on the maturity date. Until maturity, the price of the Certificate may be volatile, due to changes in market parameters and in particular changes in the Index, interest rates and the perception of the credit risk of the Issuer and the Guarantor. The longer the maturity, the greater the impact the different parameters can have. All else being equal, an increase in rates will result in a decrease in the value of the Certificate and vice versa.
Risk of early redemption in cases of force majeure: If a force majeure event makes it permanently impossible to maintain the Certificates (such as, for example, if it is illegal or impossible for the Issuer to fulfil its obligations under the Certificates), the Issuer may notify the holders of the Certificates of early redemption at their market value. In this case, no fees, other than the unavoidable fees for being able to reimburse investors for their market value, may be charged by the Issuer.
Inflation risk: An increase in inflation reduces the real return on investment. The risk of a negative real interest rate (nominal rate adjusted for inflation) becomes more significant during periods of high inflation.
Datasheet
- Name: BNP Paribas Issuance B.V. (NL) Lock-in Certificate MSCI World 2030 in USD
- ISIN code: XS2940950632
- Certificate type and legal form: Structured debt security (Certificate) under English law
- Issuer: BNP Paribas Issuance B.V.⁴ (S&P's: A+ (stable outlook) as of 27/01/2025). The rating agencies may change these ratings at any time.
- Guarantor: BNP Paribas S.A.⁴ (S&P's: A+ (stable outlook), Moody's: A1 (stable outlook) and Fitch Ratings: A+ (stable outlook) as of 27/01/2025. The rating agencies may change these ratings at any time.
- Distributor: Degroof Petercam S.A./N.V. and Indosuez Wealth Management Europe, Belgium branch.
- Issue price: 100% of the nominal value (USD 1,000)
- Maximum Issue Amount: USD 150,000,000
- Currency: USD
- Nominal Value per Certificate: USD 1,000
- Minimum subscription amount: USD 10,000
- Subscription period: From 09:00 on 03/02/2025 to 16:00 on 21/02/2025, except in case of early closure.
- Initial Observation Date: 26/02/2025
- Issue Date: 26/02/2025
- Final Observation Date: 12/02/2030
- Maturity date: 26/02/2030
- Lock-in Mechanism: Annual Observation Dates 26/02/2026 (Year 1); 26/02/2027 (Year 2); 28/02/2028 (Year 3); 26/02/2029 (Year 4).
- Underlying Index: MSCI World Price Index USD (Bloomberg: MXWO Index). For more information on this index, visit: https://www.msci.com/indexes/index/990100.
- PRIIPS summary risk indicator: 2 on a scale of 7. The risk indicator assumes that you keep the Certificate to maturity. The actual risk can be vary significantly if you cash in at an early stage and you may get back less. You may not be able to sell your Certificate, easily or you may have to sell it at a price that significantly impacts on how much you get back. You will receive payments in the currency of the Certificate, which may differ from your national currency. In that case, be aware of currency risk. The final return you get depends on the exchange rate between the two currencies. This risk is not considered in the indicator shown above
- Publication of the value of the Certificate: The value of the Certificate will be published daily in your portfolio, accessible for Bank Degroof Petercam clients via the My DP application, or for Indosuez Wealth Management Europe clients, Belgium branch, via the website https://ebanking2.ca-indosuez.be/idp-aldib/#!/loginpage
- Resale before maturity: Under normal market circumstances, BNP Paribas Financial Markets S.N.C intends to provide a daily indicative price (buy/sell range of 1%, see liquidity risk on page 12 of the sales brochure) (excluding transaction fees/tax on stock exchange transactions/possible taxes). Payment will be made within 2 business days of orders being placed.
Useful documents
- Brochures: in English, French, Dutch
- KID: in English, French, Dutch
- Base Prospectus: in English
- Supplements to the Base Prospectus (in English) : supplement 1, supplement 2, supplement 3, supplement 4
- Issue-Specific summaries: en français, anglais, néerlandais
- Final terms: en anglais
Additional information under Belgian law
The Issuer states in the Final Terms that the unfair terms included in the passported Base Prospectus are not applicable.
Complaint services
In the event of a complaint, customers of Bank Degroof Petercam can contact the complaints department: Degroof Petercam, Rue de l’Industrie 44, 1040 Brussels, or use the form on the page https://www.degroofpetercam.com/en-be/complaints.
Clients of Indosuez Wealth Management Europe, Belgium branch can contact their usual relationship manager by secure message via the e-banking app or by post by sending a letter to the Claims Manager of CA Indosuez Wealth (Europe), Belgium Branch, Chaussée de la Hulpe 120, 1000 Brussels.
If you are not satisfied, contact the Ombudsman in Financial Conflicts, Ombudsfin asbl - North Gate II - Boulevard du Roi Albert II, no. 8, bte.2 - 1000 Brussels (https://www.ombudsfin.be).
Disclaimer
Before investing in this Certificate, investors should consult their financial, tax, accounting and legal advisers. Investors are also encouraged to obtain and carefully read the Legal Documentation relating to the Certificates and to consider the decision to invest in the Certificates in the light of all the information contained therein. The Legal Documentation consists of :
(a) the Base Prospectus for the issuance of Certificates, dated May 30th, 2024, approved by the Autorité des marchés financiers (AMF) under number 24-185,
(b) its Supplements,
(c) the Final Terms dated February 3rd, 2025, and
(d) of the Issue Specific Summary.
(a) the Base Prospectus for the issuance of Certificates, dated May 30th, 2024, approved by the Autorité des marchés financiers (AMF) under number 24-185,
(b) its Supplements,
(c) the Final Terms dated February 3rd, 2025, and
(d) of the Issue Specific Summary.
The AMF’s approval of the Base Prospectus should not be seen as an endorsement by the AMF of the quality of the Certificates that are the subject of this promotional communication. An event (such as a significant new fact or the correction of a material inaccuracy) triggering the publication of a Supplement to the Base Prospectus could occur during the Offer Period. In the event of publication of a Supplement containing information likely to influence the valuation of a Certificate being subscribed to, the investor who has already subscribed to this Certificate will have a right of withdrawal for 3 business days from the date of publication of this supplement on the website https://rates-globalmarkets.bnpparibas.com/documents/legaldocs/resourceindex.htm.
In this case, Degroof Petercam and Indosuez Wealth Management Europe, Belgium branch, in their capacity as Distributors, will contact each investor before the end of the first business day following publication of the Supplement and assist them in exercising their right of withdrawal if necessary.
Investors are also invited to read the Key Information Document ("KID"). The KID will be available free of charge from 3 February 2025, from Bank Degroof Petercam and Indosuez Wealth Management Europe, Belgium branch. It can also be consulted on the website : https://kid.bnpparibas.com/XS2940950632-EN.pdf. Investors are encouraged to consider the decision to invest in the Certificates in the light of all the information contained therein.
Investors are advised to consult the risk factors included in the Legal Documentation. The main characteristics of BNP Paribas Issuance B.V. (NL) Lock-in Certificate MSCI World 2030 in USD set out in the sales brochure are only a summary. The Issuer advices investors to read the Legal Documentation before subscribing to this Certificate. Investors should understand the risks associated with investments in the Certificates and should make an investment decision only after having seriously considered the suitability of an investment in the Certificates in the light of their financial situation, this information and the information relating to the Certificates.
The Base Prospectus for the issuance of Certificates, dated May 30th, 2024, approved by the Autorité des marchés financiers (AMF) under number 24-185 and its Supplements is available on the following website: https://rates-globalmarkets.bnpparibas.com/documents/legaldocs/resourceindex.htm. The Final Terms can be viewed at https://eqdpo.bnpparibas.com/XS2940950632.
¹ This right to redemption does not apply if the Certificate is sold before maturity.
² Potential redemption premium in USD subject to current withholding tax.
³ Except in the event of bankruptcy of BNP Paribas Issuance B.V. (Issuer), as well as in the event of bankruptcy or bail-in (the resolution authorities could require a restructuring to avoid bankruptcy) of BNP Paribas S.A. (Guarantor).
⁴ BNP Paribas Issuance B.V. rating at 27/01/2025: Standard & Poor’s A+ (stable outlook). BNP Paribas S.A. rating at 27/01/2025: Standard & Poor’s A+ (stable outlook), Moody’s A1 (stable outlook), Fitch Ratings A+ (stable outlook). For more information on these ratings, please visit https://www.spglobal.com/ratings/en/about/understanding-credit-ratings, https://ratings.moodys.io/ratings and https://www.fitchratings.com/products/rating-definitions.
⁵ Fees applicable if the Certificate is held to maturity. More details on the Certificate’s fees, particularly in the event of resale before maturity, can be found on page 10 of the sales brochure.
⁶ Please refer to the Data Sheet on page 13 of the sales brochure for details of the dates.
⁷ Description of the Index: see presentation of the Index on page 8 of the sales brochure.
⁸ Gross yields to maturity are expressed in USD and correspond to an annual return excluding the prevailing withholding tax.
⁹ The net actuarial yields to maturity are expressed in USD and correspond to an annual return that takes into account the withholding tax in force.
¹⁰ As the liabilities of the Issuer are, based on BNP Paribas internal legal analysis under French law, excluded from the scope of the bail-in.
¹¹ A rating is given for information purposes only and does not constitute a recommendation to buy, sell or hold the Issuer’s securities. It may be suspended, modified or withdrawn at any time by the rating agency. For more information on these ratings, please visit: https://www.spratings.com/en_US/understandingratings, https://www.moodys.com/web/en/us/solutions/ratings.html and https://www.fitchratings.com/site/definitions. The guarantee shall only apply in the event of bankruptcy of or failure to pay by the Issuer.
Rue de l'Industrie 44
1040 Brussels
Belgium
+32 2 287 91 111040 Brussels
Belgium
VAT BE 0403 212 172
RPR | RPM Brussels
RPR | RPM Brussels
Regulated by the Belgian Financial Services and Markets Authority (FSMA) and the National Bank of Belgium | All rights reserved 2025, Degroof Petercam