Harris to sell annual digital yield generator CDs linked to 10 stocks

By Marisa Wong

Madison, Wis., Nov. 10 - Harris NA plans to price annual digital yield generator certificates of deposit due Nov. 30, 2016 linked to an equally weighted basket of common stocks, according to a term sheet.

The basket includes Apple, Inc., Barrick Gold Corp., ConAgra Foods Inc., Duke Energy, Eli Lilly & Co., Exxon Mobil Corp., Home Depot Inc., Johnson & Johnson, Proctor & Gamble Co. and Verizon Communications Inc.

Interest will be payable the last day in November of each year and will equal the sum of the weighted performances of the basket stocks, subject to a floor of zero.

If a stock's return is positive, its performance will be equal to a digital coupon of 5%. If a stock's return is negative, its performance will be the greater of the return and negative 30%.

The payout at maturity will be par.

The CDs (Cusip: 41456TKS7) will price Nov. 23 and settle Nov. 30.

Incapital LLC is the distributor.

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