Bank of the West plans income advantage CDs on commodity indexes

New York, Feb. 6 – Bank of the West plans to price income advantage market-linked certificates of deposit due Feb. 28, 2022 linked to a basket of commodity futures indexes, according to a term sheet.

The basket includes the S&P GSCI Cocoa Dynamic Roll Index ER, the S&P GSCI Coffee Dynamic Roll Index ER, the S&P GSCI Corn Dynamic Roll Index ER, the S&P GSCI Lead Dynamic Roll Index ER and the S&P GSCI Natural Gas Dynamic Roll Index ER.

Each year, the CDs will pay a coupon equal to 6.5% if each index is at or above its initial level. If any of the indexes are below the initial level the coupon will be 1%.

The payout at maturity will be par plus the final coupon.

The CDs (Cusip: 06426XMP2) are expected to price on Feb. 23 and settle on Feb. 26.

BNP Paribas Securities Corp. is the agent.

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