Dutch asset manager collaborates with BNP for first Phoenix autocall

Wilgenhaege has launched Easy Coupon 10.5% in the Netherlands. The five-year Phoenix autocall is issued on the paper of BNP Paribas and linked to shares of BE Semiconductor Industries (Besi) and L’Oréal . It is the first time the asset manager has utilised the Phoenix structure for its autocalls, instead of the Athena structure, which was its prefered payoff until now. Our preference is for sound European shares - Tjerk Smelt “In recent years we have had a whole series of