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Bank of the West plans averaging CDs on Euro Stoxx, Hang Seng, S&P
New York, Sept. 13 – Bank of the West plans to price 0% market-linked certificates of deposit due Sept. 30, 2024 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 between 6% and 9% and will be set at pricing.
For each index, the final index level will be the average of its closing levels on annual observation dates throughout the life of the CD.
BNP Paribas Securities Corp. is the agent.
The CDs will price on Sept. 25 and settle on Sept. 28.
The Cusip number is 06426XTK6.
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