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

By Angela McDaniels

Tacoma, Wash., Feb. 26 - Harris NA plans to price zero-coupon principal-protected certificates of deposit due March 31, 2014 linked to the S&P 500 index, according to a term sheet.

The payout at maturity will be par 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 11.5%, and the minimum payout at maturity will be par.

The CDs will price March 26 and settle March 31.

Incapital LLC is the distributor.

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