Product wrap: Marex, Goldman bet on BNP evolution

Goldman Sachs Finance Corp International was the manufacturer behind Athena Flash , a five-year autocall on the share of BNP Paribas for which Marex was the authorised offeror in France. The product’s knockout feature is triggered – monthly, beginning 14 November 2025 – if the share closes at or above 95% of its starting value on any valuation date. The capital return in that case is 100%, plus a coupon of 0.75% for each month that has passed. At maturity, the maximum capital r