Wells Fargo Bank plans capped market-linked CDs tied to index basket

By Sarah Lizee

Olympia, Wash., Nov. 20 – Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due Dec. 1, 2022 with upside participation to a cap and deposit amount return at maturity linked to an equally-weighted basket of indexes including the S&P 500 index and the Euro Stoxx 50 index, according to a term sheet.

The payout at maturity will be par plus any basket gain, capped at par plus 22% to 27%.

If the basket falls, the payout will be par.

Incapital LLC is the distributor.

The CDs will price Nov. 27.

The Cusip number is 94986T7P6.

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