Wells Fargo plans seven-year CDs with 10% minimum return on S&P 500

By Susanna Moon

Chicago, Jan. 9 – Wells Fargo Bank, NA plans to price certificates of deposit due Jan. 31, 2024 linked to the S&P 500 index, according to a term sheet.

The payout at maturity will be par plus the sum of the index returns in each of the 28 valuation quarters, up a maximum quarterly return of 5% to 5.5%. The minimum interest is 10%.

Incapital LLC is the distributor.

The CDs will price on Jan. 26 and settle on Jan. 31.

The Cusip number is 94986TJ73.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.