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Bank of the West plans CDs tied to Morningstar Ultimate Stock-Pickers
By Susanna Moon
Chicago, May 16 - Bank of the West plans to price 0% market-linked certificates of deposit due Nov. 30, 2020 linked to the Morningstar Ultimate Stock-Pickers Target Volatility 7 index, according to a term sheet.
The payout at maturity will be par plus 115% to 120% of the index return, with a minimum payout of par. The exact participation rate will be set at pricing.
BNP Paribas Securities Corp. is the agent. Advisors Asset Management, Inc. is the distributor.
The CDs will price on May 27 and settle on May 30.
The Cusip number is 06426XKS8.
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