Harris plans principal-protected CDs linked to PowerShares QQQ Trust

By Angela McDaniels

Tacoma, Wash., March 2 - Harris NA plans to price zero-coupon principal-protected certificates of deposit due March 31, 2014 linked to the PowerShares QQQ Trust Series 1 exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 5% plus the ETF interest amount, which will equal the product of the ETF returns for the 20 quarters making up the life of the CDs minus 5%. The return in each quarter will be capped at between 4% and 8%, with the exact cap to be set at pricing.

The CDs will price March 24.

Morgan Stanley & Co. Inc. is the agent.

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