SunTrust Bank plans to sell certificates of deposit linked to gold

By Susanna Moon

Chicago, Sept. 28 - SunTrust Bank plans to price 0% certificates of deposit due Sept. 30, 2014 linked to the price of gold, according to a term sheet.

If the price of gold rises above the upper barrier on any day during the life of the CDs, the payout at maturity will be par plus 12%.

Otherwise, the payout will be par plus the greater of 12% and the gold return.

The upper barrier is expected to be 175% to 190% of the initial gold price, with the exact amount to be set at pricing.

The CDs will settle on Oct. 28.

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