Wells Fargo plans to price six-year CDs linked to four currencies

By Angela McDaniels

Tacoma, Wash., Aug. 7 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due Aug. 31, 2018 linked to the performance of a basket of currencies relative to the U.S. dollar, according to a term sheet.

The basket includes equal weights of the Brazilian real, the Russian ruble, the Indian rupee and the Singapore dollar.

If the final basket level is greater than the initial basket level, the payout at maturity will be par plus the greater of the contingent minimum return and the basket return. The contingent minimum return is expected to be 25% to 30% and will be set at pricing. If the final basket level is less than or equal to the initial basket level, the payout will be par.

The CDs are expected to price Aug. 27 and settle Aug. 31.

Incapital LLC is the distributor.

The Cusip number is 949748R90.

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