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

By Jennifer Chiou

New York, March 27 - Harris NA plans to price zero-coupon principal-protected certificates of deposit due April 30, 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 12%, and the minimum payout at maturity will be par.

The CDs will price on April 27 and settle on April 30.

BMO Capital Markets Corp. is the calculation agent.

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