Bank of the West plans income advantage CDs linked to five stocks

By Angela McDaniels

Tacoma, Wash., Nov. 13 – Bank of the West plans to price income advantage market-linked certificates of deposit with a minimum annual interest payment due Nov. 27, 2024 linked to a basket of five common stocks, according to a term sheet.

The underlying stocks are Duke Energy Corp., Pfizer Inc., Philip Morris International Inc., Prudential Financial Inc. and Verizon Communications Inc.

Interest will be payable annually. If each stock’s closing share price on the relevant valuation date is greater than or equal to its initial share price, the coupon for that year will be 10.1%. If the closing share price of one or more stocks is less than its initial share price, the coupon will be 0.65%.

The payout at maturity will be par.

BNP Paribas Securities Corp. is the agent. Incapital LLC is distributor.

The CDs will price Nov. 21.

The Cusip number is 06426XUC2.

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