In this week’s wrap, we look at a selection of structured products with strike dates between 15-21 February 2026.

BNP Paribas issued EUR Phoenix Snowball Notes in France. The 10-year medium-term note (MTN) is linked to the Euronext Europe Fallen Angels Fixed Basket Decrement 50 Points Index , which focuses on selection of 10 European companies deemed to have fallen from grace, aiming to identify potential turnaround opportunities or value, based on specific, fixed company selections, rather than a traditional free float market index. Euronext Europe Fallen Angels Fixed Basket – constituents as of 31