Wells Fargo plans four-year CDs linked to four currencies versus euro

By Angela McDaniels

Tacoma, Wash., June 3 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due June 30, 2014 linked to a basket of equally weighted currencies relative to the euro, according to a term sheet.

The underlying currencies are the Australian dollar, Brazilian real, Canadian dollar and Norwegian krone.

The payout at maturity will be par plus the greater of a) 3% and b) 110% to 120% of the basket appreciation relative to the euro, if any. The exact participation rate will be set at pricing.

The CDs (Cusip: 949748YU5) are expected to price June 23 and settle June 30.

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