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Harris to price principal-protected CDs due 2013 linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 6 - Harris NA plans to price zero-coupon principal-protected certificates of deposit due Nov. 28, 2013 linked to the S&P 500 index, according to a term sheet.
The payout at maturity will be par plus 5% plus the sum of the index returns in each of the five years making up the life of the CDs. The return in each annual period will be capped at 13%, and the minimum payout at maturity will be par plus 5%.
The CDs will price on Nov. 25 and settle on Nov. 28.
Incapital LLC is the distributor.
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