Product wrap: Volkswagen v Porsche

EUROPE Oddo BHF Banque Privée is marketing Quartz 14 in France. The five-year autocall is issued via BNP Paribas Issuance BV and linked to the share of Volkswagen . Every six months, the performance of the share is measured and compared to its step-down redemption barrier. If it closes at or above 100%, 100%, 98%, 96%, 94%, 92%, 90% and 88%, respectively, the early redemption feature is triggered. In that case it offers 100% capital return, plus a coupon of 3.50% for each semester elapse