Bank of the West Introduces Market-Linked CDs
August 17, 2010 08:18 AM Eastern Daylight Time
SAN FRANCISCO--(EON: Enhanced Online News)--Bank of the West today announced the introduction of a
Market-Linked CD, which offers returns tied to the performance of a basket of stocks and is FDIC-insured. The
new CD is the first in a series of Bank of the West Market-Linked CDs that will offer interest rates linked to the
performance of equity, commodity, foreign exchange or fixed income markets.
"We are very excited to offer an investment product that provides clients with the growth potential of returns linked
to the performance of the equities markets and the protection of a CD structure," said Richard Byrd, head of the
Wealth Management Group at Bank of the West.
Bank of the West Market-Linked CDs allow investors to take advantage of potential appreciation of reference
assets, such as a basket of stocks.
The principal invested in Market-Linked CDs, or MLCDs, is insured by the Federal Deposit Insurance Corporation
up to applicable limits and protected from market volatility, if the MLCDs are held to maturity. Maturities may vary
with each offering. Early redemptions of the MLCDs are typically not permitted and sales of MLCDs, prior to
maturity, may result in a loss of principal. The minimum investment is $1,000.
“Bank of the West Market-Linked CDs provide investors a simple strategy for protecting capital while offering the
potential to generate returns based on the appreciation of various investment instruments or indices,” Byrd said.
Bank of the West MLCDs will be available to individuals, and corporate and institutional investors through
brokerage firms, including BancWest Investment Services, the brokerage subsidiary of Bank of the West. Bank of
the West developed the MLCDs in coordination with its parent company BNP Paribas.
The new Market-Linked CD offerings provide FDIC protection and the potential for higher returns than traditional
About Bank of the West: Ba