Wells Fargo plans market-linked CDs due 2015 tied to currency basket

By Susanna Moon

Chicago, Aug. 3 - Wells Fargo Bank, NA plans to price market-linked certificates of deposit due Feb. 27, 2015 based on a basket of equally weighted currencies relative to the U.S. dollar, according to a term sheet.

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

The coupon will be 1.15 times any basket return, with a floor of 3%.

The payout at maturity will be par.

The CDs (Cusip 949748ZL4) will price on Aug. 24 and settle on Aug. 31.

Incapital LLC is the distributor.

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