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Bank of the West to price CDs due 2023 tied to basket of six indexes
By Marisa Wong
Morgantown, W.Va., March 20 – Bank of the West plans to price 0% market-linked certificates of deposit due Sept. 28, 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 at least 100% 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.
Advisors Asset Management is the distributor.
The CDs will price on March 25.
The Cusip number is 06426XYR5.
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