BNP Paribas Tencent Call Warrant (Code 24527) (24527)

The BNP Paribas Tencent Call Warrant is a structured derivative product issued by BNP Paribas that provides investors with leveraged exposure to the performance of Tencent Holdings shares. As a call warrant, it grants the right, but not the obligation, to a cash settlement amount at expiry based on the positive difference between the average closing price of the underlying Tencent shares and a predetermined exercise price, multiplied by the entitlement ratio. This warrant, coded 24527 and denoted as BPTENCT@EC2611A, is set to list around mid-January 2026 with an expiry in November 2026, enabling trading prior to automatic exercise on the maturity date if in the money. Key features include cash settlement in board lots, potential adjustments for corporate actions like rights issues, and liquidity provision by a designated market maker offering quotes within specified spreads and response times. Backed by BNP Paribas as issuer with guarantees subject to credit risks, it plays a vital role in the warrants market by allowing targeted bullish bets on Tencent, a leading technology conglomerate, amid volatile equity conditions. Investors utilize real-time quotes, price charts, and theoretical valuation calculators provided by BNP Paribas for analysis.