In this week’s wrap we look at a selection of structured products with strike dates between 16-22 November 2025.

BNP Paribas issued Phoenix Snowball Notes in France. This 10-year medium-term note (MTN) is linked to the Euronext Transatlantic Pharmaceuticals Fixed Basket Decrement 50 Points Index which consists of pharmaceutical companies listed on Euronext Amsterdam. The index consists of five different versions and launched on 20 May 2025 Euronext Transatlantic Pharmaceuticals Fixed Basket Decrement 50 Points Index - constituents Source: Euronext 30 September 2025 The product pays a memory coupon of