San Francisco-based Bank of the West has launched a new Market-Linked Certificate of Deposit (CD) that offers returns attached to the performance of a basket of stocks and is FDIC-insured.
The newly launched CD marks the first in a series of Market-Linked CDs from Bank of the West that will offer interest rates tied with the performance of equity, commodity, foreign exchange or fixed income markets.
Bank of the West wealth management group head Richard Byrd said that the bank is 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.
“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’s holding company, BancWest Corporation, is a subsidiary of France-based BNP Paribas.