Potentially complicated, seems like a question worth asking BB (I'd call them and see if anyone can figure it out... though their answers aren't binding).
On one hand, what you do is basically just get a trade in value on a gift card. That's a normal process where any returns for items paid for on that card would be credited back to the card (in this case they throw away the card so they'll have to issue you a new one). Samsung's already paid them for the promo, we assume, so it's possible that BB won't actually care.
On the other hand it's not like a big company to let you get away with something like that (getting a promo gift card, returning the item, keeping the card). It was a promo and it's possible that they'll be able to tell that during a return (maybe they keep a set of gift card codes specifically for promotions?). If that's the case you might forfeit the value of the gift card. That sounds like it shouldn't be allowed (you did give them a phone even if it was terrible), but in a lot of cases there's even more fine print than the stuff you can easily get to that you're unknowingly agreeing to.
It could even be something in between. Maybe they can look up the trade in event from the GC number and will only refund you the "real" trade value of the phone (so $5-10 for many of the phones people are going to trade for this deal).
So... basically you need to ask that before you commit to the deal if there's any chance you'll return it.
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Little additional research:
So I see terms that say you cannot recover your phone (not surprising) since you've basically made a sale (phone for GC). Normally that GC becomes your property, but in this case the terms say that you must use the GC for the Note 4/S5 purchase. I think that's where they might have some leverage, but I'm definitely not a lawyer. They might say that they can only give you the GC value back if you immediately use it to buy another Note4/S5. Again I think the only way to know is to ask, but generally these companies have themselves covered so only they can come out ahead.
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