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Wells Fargo plans six-year CDs on SGI WISE US Vol Target 8% index
By Susanna Moon
Chicago, Aug. 3 - Wells Fargo Bank, NA plans to price certificates of deposit due Aug. 31, 2016 based on the SGI WISE US Vol Target 8% (USD-Excess Return) index, according to a term sheet.
The payout at maturity will be par plus 80% to 100% of any index gain, with the exact participation rate to be set at pricing.
Investors will receive at least par.
The CDs (Cusip 949748ZK6) will price on Aug. 24 and settle on Aug. 31.
Incapital LLC is the distributor.
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