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

By Toni Weeks

San Diego, Sept. 5 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due Sept. 28, 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 Australian dollar, the South Korean won, the Chinese renminbi 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 20% to 25% 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 Sept. 24 and settle Sept. 28.

Incapital LLC is the distributor.

The Cusip number is 949748S81.

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