Bank of the West plans CDs on S&P Capital IQ Stars Universe stocks

By Angela McDaniels

Tacoma, Wash., Sept. 12 - Bank of the West plans to price income advantage market-linked certificates of deposit due Sept. 29, 2020 linked to a basket of five common stocks selected from the S&P Capital IQ Stars Universe, according to a term sheet.

The underlying stocks are AbbVie Inc., Altria Group, Inc., ConocoPhillips, Intel Corp. and Williams Cos. Inc.

These five stocks received a 4-Stars or 5-Stars ranking by S&P Capital IQ's Stock Appreciation Ranking System as of Aug. 21. According to S&P Capital IQ, a stock is given a 4-Stars ranking if its "total return is expected to outperform that of a relevant benchmark over the coming 12 months, with shares rising in price on an absolute basis" and is given a 5-Stars ranking if its "total return is expected to outperform the total return of a relevant benchmark by a wide margin over the coming 12 months, with shares rising in price on an absolute basis."

Each year, the CDs will pay a coupon equal to the performance-based rate or 1%, whichever is greater.

If each stock's closing share price is greater than or equal to its initial share price on the valuation date, the performance-based rate will be 5%. If the closing share price of one or more stocks is less than its initial share price, the performance-based rate will be zero.

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

BNP Paribas Securities Corp. is the agent. Advisors Asset Management, Inc. is the distributor.

The CDs will price Sept. 24 and settle Sept. 27.

The fees will be up to 4%.

The Cusip number is 06426XHT0.

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