Harris to price five-year digital yield generator CDs on 10 stocks

By Jennifer Chiou

New York, Dec. 2 - Harris NA plans to price annual digital yield generator certificates of deposit due Dec. 31, 2015 linked to an equally weighted basket of common stocks, according to a term sheet.

The basket includes Apple, Inc., Barrick Gold Corp., ConAgra Foods Inc., Duke Energy, Eli Lilly & Co., Exxon Mobile Corp., Home Depot Inc., Johnson & Johnson, Proctor & Gamble Co. and Verizon Communications Inc.

Interest will be payable in December of each year and will equal the sum of the weighted performances of the basket stocks, subject to a floor of zero.

If a stock's return is positive, its performance will be equal to the coupon cap, which is expected to be 4% to 6% and will be set at pricing. If a stock's return is negative, its performance will be the greater of the return and negative 20%.

The payout at maturity will be par.

The CDs (Cusip: 41456TKX6) will price on Dec. 28 and settle on Dec. 31.

Incapital LLC is the distributor.

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