Bank of the West plans six-year contingent income CDs on 10 stocks

By Jennifer Chiou

New York, May 9 - Bank of the West plans to price contingent variable income market-linked certificates of deposit due May 30, 2018 linked to a basket of stocks, according to a term sheet.

The underlying stocks are Altria Group, Inc., Apple Inc., AT&T, Inc., Campbell Soup Co., ConocoPhillips, Eli Lilly & Co., Exelon Corp., Goldcorp Inc., St. Jude Medical, Inc. and Valero Energy Corp.

Interest is payable annually in an amount equal to the average of the stock returns, subject to a floor of zero.

If a stock's return is positive or flat, its performance will be fixed at 6% to 8%. Otherwise, its performance will be the greater of the stock return and negative 30%. The exact fixed percentage will be set at pricing.

The payout at maturity will be par.

The CDs (Cusip: 06426XDT4) will price on May 24 and settle on May 30.

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

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