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Bank of the West plans averaging CDs linked to Euro Stoxx, S&P, Nikkei
By Angela McDaniels
Tacoma, Wash., Jan. 5 – Bank of the West plans to price 0% market-linked certificates of deposit due Feb. 3, 2023 linked to a basket of three global indexes, according to a term sheet.
The indexes are the Euro Stoxx 50 index with a 40% weight, the S&P 500 index with a 40% weight and the Nikkei 225 index with a 20% weight.
The payout at maturity will be par plus 100% to 110% of the basket return, subject to a minimum payout of par. The exact participation rate will be set at pricing.
For each index, the final index level will be the average of its closing levels on quarterly observation dates throughout the life of the CD, starting April 27, 2016 and ending Jan. 27, 2023.
BNP Paribas Securities Corp. is the agent.
The CDs will price Jan. 29.
The Cusip number is 06426XPZ7.
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