Bank of the West lines up income advantage CDs linked to five stocks

New York, June 3 – Bank of the West plans to price income advantage market-linked certificates of deposit with a minimum annual interest payment due June 29, 2023 linked to a basket of five common stocks, according to a term sheet.

The underlying stocks are Apple Inc., AT&T Inc., Cisco Systems, Inc., Philip Morris International Inc. and Southern Co.

Interest will be payable annually. If each stock’s closing share price on the relevant valuation date is greater than or equal to its initial share price, the coupon for that year will be 3.75%. If the closing share price of one or more stocks is less than its initial share price, the coupon will be 0.5%.

The payout at maturity will be par.

BNP Paribas Securities Corp. is the agent.

The CDs will price on June 24 and settle on June 29.

The Cusip number is 06426XQV5.

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