Bank of the West plans CDs tied to Morningstar Ultimate Stock-Pickers

By Sarah Lizee

Olympia, Wash., Dec. 5 – Bank of the West plans to price 0% market-linked certificates of deposit due Dec. 27, 2022 linked to the Morningstar Ultimate Stock-Pickers Target Volatility 7 index, according to a term sheet.

The payout at maturity will be par plus 140% to 150% of the index return, subject to a minimum payout of par. The exact participation rate will be set at pricing.

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

The CDs will price on Dec. 21.

The Cusip number is 06426XXP0.

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