Wells Fargo Bank to price CDs linked to Dow Jones Industrial Average

By Angela McDaniels

Tacoma, Wash., July 29 - Wells Fargo Bank, NA plans to price 0% certificates of deposit due Aug. 31, 2015 linked to the Dow Jones Industrial Average, according to a term sheet.

The payout at maturity will be par plus any positive index return. Investors will receive at least par.

The final index level used to calculate the return will be the average of the index's closing levels on Aug. 24 of 2010, 2011, 2012, 2013, 2014 and 2015.

The CDs are expected to price Aug. 24 and settle Aug. 31.

Morgan Stanley is the distributor.

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