Bank of the West plans contingent income CDs linked to 10 stocks

By Angela McDaniels

Tacoma, Wash., June 2 - Bank of the West plans to price contingent variable income market-linked certificates of deposit due June 30, 2016 linked to a basket of stocks, according to a term sheet.

The basket includes Altria Group, Inc., Bristol-Myers Squibb Co., Cablevision Systems Corp., Campbell Soup Co., CenturyLink, Inc., General Mills, Inc., M&T Bank Corp., Newmont Mining Corp., Nvidia Corp. and Sprint Nextel Corp.

Interest is payable annually and will equal the average of the basket stocks' performances, subject to a floor of zero.

If a stock's return is positive or flat, its performance will be fixed at 7% to 10%. Otherwise, its performance will be the greater of its return and negative 30%. The exact fixed percentage will be set at pricing.

The CDs (Cusip: 06426XBA7) are expected to price June 27 and settle June 30.

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

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