SunTrust plans to price index-linked CDs due 2024 tied to S&P 500

By Sarah Lizee

Olympia, Wash., Dec. 5 – SunTrust Banks, Inc. plans to price 0% index-linked certificates of deposit due June 26, 2024 linked to the S&P 500 index, according to a term sheet.

The payout at maturity will be par plus at least 100% of any index gain, subject to a minimum payout of par plus 5.5%. The exact participation rate will be set at pricing.

Incapital LLC is the distributor.

The CDs will price Dec. 20.

The Cusip number is 86789VXN2.

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