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Wells Fargo Bank plans to price seven-year CDs linked to the Dow
By Susanna Moon
Chicago, May 16 - Wells Fargo Bank, NA plans to price 0% certificates of deposit due May 28, 2021 linked to the Dow Jones industrial average, according to a term sheet.
The payout at maturity will be par plus the greater of the index interest and the contingent minimum interest of 7% to 9%.
The average index level will be the average of the index levels on each quarterly averaging date during the life of the CDs.
Advisors Asset Management, Inc. is the distributor.
The CDs will price on May 27 and settle on May 30.
The Cusip number is 9497482C0.
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