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Harris to price principal-protected CDs linked to S&P 100 versus Russell 2000
By Angela McDaniels
Seattle, April 26 - Harris NA plans to price an offering of 0% principal-protected positive outperformance certificates of deposit due May 31, 2011 linked to the performance of the S&P 100 index over the Russell 2000 index, according to a term sheet.
The CDs are expected to price on May 25 and settle on May 31.
If the S&P 100 outperforms the Russell 2000, the payout at maturity will be par plus 170% of the spread of the S&P 100 return over the Russell 2000 return. Otherwise, the payout will be par.
The payout will be subject to a to-be-determined maximum return.
Incapital is the distributor.
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