Wells Fargo plans callable range accrual CDs linked to six-month Libor

By Susanna Moon

Chicago, Feb. 3 - Wells Fargo Bank, NA plans to price callable range accrual certificates of deposit due Feb. 28, 2023, according to a term sheet.

Interest will accrue at 5.5% per year on each day that six-month Libor is at or below 5.5%, payable quarterly.

The payout at maturity will be par.

The CDs will be callable at par on any quarterly redemption date beginning Feb. 28, 2014.

The CDs (Cusip 949748C54) will price on Feb. 22 and settle on Feb. 28.

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