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SunTrust Bank plans CDs linked to index basket
By Jennifer Chiou
New York, Jan. 9 - SunTrust Bank plans to price 0% principal-protected certificates of deposit due Jan. 17, 2014 linked to equal weights of the S&P 500, Dow Jones Euro Stoxx 50 and Nikkei 225 indexes, according to a term sheet.
The payout at maturity will be par plus any basket gain, capped at between 40% and 45%. Investors will receive at least par.
There is no call feature for the CDs, which will settle on Jan. 29.
SunTrust Robinson Humphrey, Inc. and SunTrust Investment Services, Inc. will be the agents. Incapital LLC is the distributor.
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