Wells Fargo Bank to price four-year CDs linked to BRIC currencies

By Angela McDaniels

Tacoma, Wash., Aug. 26 - Wells Fargo Bank, NA plans to price 0% certificates of deposit due Sept. 30, 2013 linked to a basket of currencies, according to a term sheet.

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

The payout at maturity will be par plus 1.15 to 1.35 times any appreciation in the basket relative to the dollar, with the exact participation rate to be set at pricing. Investors will receive at least par.

The CDs are expected to price Sept. 23 and settle Sept. 30.

Morgan Stanley is the distributor.

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