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Bank of the West to price five-year CDs tied to basket of six indexes
By Marisa Wong
Morgantown, W.Va., Sept. 21 – Bank of the West plans to price 0% market-linked certificates of deposit due Sept. 29, 2023 linked to a basket of six global indexes, according to a term sheet.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par plus 110% to 120% of the basket return, subject to a minimum payout of par. The exact participation rate will be set at pricing.
BNP Paribas Securities Corp. is the agent. Incapital LLC is distributor.
The CDs will price on Sept. 26.
The Cusip number is 06426XWX4.
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