Wells Fargo to price barrier return rebate CDs linked to S&P 500 index

By Angela McDaniels

Tacoma, Wash., April 7 - Wells Fargo Bank, NA plans to price 0% barrier return rebate certificates of deposit due April 30, 2015 linked to the S&P 500 index, according to a term sheet.

If the index level increases above the threshold level - 155% to 165% of the initial level - during the life of the CDs, the payout at maturity will be par plus 10%. Otherwise, the payout will be par plus the index return, subject to a floor of par.

The exact threshold level will be set at pricing.

The CDs are expected to price April 23 and settle April 30.

Incapital LLC is the distributor.

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