| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers W > Headlines for Wells Fargo Bank NA > News item |
Wells Fargo plans certificates of deposit tied to commodities basket
By Jennifer Chiou
New York, Oct. 2 - Wells Fargo Bank NA plans to issue contingent annual interest certificates of deposit due Oct. 30, 2015 linked to a basket of commodities, according to a term sheet.
The basket includes equal weights of West Texas Intermediate crude oil, natural gas, corn, soybeans, the S&P GSCI Wheat Index Excess Return, the S&P GSCI Livestock Index Excess Return, grade A copper, gold, silver and platinum.
The contingent coupon, payable annually, will be determined using the basket return on annual valuation dates in October. Each component's return will be capped at 12% to 14%, with a floor of negative 20%.
The payout at maturity will be par.
The CDs will price on Oct. 23 and settle on Oct. 30.
The CDs will be FDIC insured.
Morgan Stanley Smith Barney is the distributor.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.