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

By Angela McDaniels

Tacoma, Wash., April 28 - Harris NA plans to price zero-coupon principal-protected certificates of deposit due May 29, 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 13%, and the minimum payout at maturity will be par.

The CDs will price May 26 and settle May 29.

Incapital LLC is the distributor.

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