Harris plans principal-protected CDs linked to S&P 500

By Susanna Moon

Chicago, June 2 - Harris NA plans to price principal-protected certificates of deposit due June 29, 2009 linked to the S&P 500 index, according to a term sheet.

If the index stays within its knock-out levels, the payout at maturity will be 111% of par. Otherwise, the payout will be par.

The lower knock-out level is 89% of the initial index level, and the upper knock-out level is 111% of the initial level.

The notes are expected to price on June 24 and settle on June 27.

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