Bank of the West plans averaging CDs tied to Euro Stoxx, Hang Seng, S&P

By Angela McDaniels

Tacoma, Wash., Jan. 5 – Bank of the West plans to price 0% market-linked certificates of deposit due Jan. 31, 2023 linked to a basket of three global indexes, according to a term sheet.

The equally weighted indexes are the Euro Stoxx 50 index, the Hang Seng index and the S&P 500 index.

The payout at maturity will be par plus the basket return, subject to a minimum return that is expected to be 2% to 4% and 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 26, 2016 and ending Jan. 26, 2023.

BNP Paribas Securities Corp. is the agent.

The CDs will price Jan. 26.

The Cusip number is 06426XQA1.

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