Harris to price annual income range CDs tied to basket of 15 stocks

By Angela McDaniels

Tacoma, Wash., Dec. 3 - Harris NA plans to price principal-protected contingent annual income range certificates of deposit due Dec. 31, 2014 linked to an equally weighted basket of common stocks, according to a term sheet.

The basket includes Coca-Cola Co., Wells Fargo & Co., Procter & Gamble Co., American Express Co., Kraft Foods Inc., ConocoPhillips, Johnson & Johnson, Wesco Financial Corp., Moody's Corp., NIKE, Inc., Union Pacific Corp., Washington Post, US Bancorp, Wal-Mart Stores Inc. and Costco Wholesale Corp.

Interest is payable on Dec. 31 of each year and will equal the sum of the weighted returns of the basket stocks. The coupon payment each year will be subject to a floor of zero, and each stock's return will be capped at 6% to10%. The exact cap will be set at pricing.

The payout at maturity will be par.

The CDs will price Dec. 28 and settle Dec. 31.

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