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

By Marisa Wong

Madison, Wis., Aug. 31 - Wells Fargo Bank, NA plans to price market-linked certificates of deposit due March 31, 2015 linked to 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 equal to the basket return, with a floor of 2% to 4% that will be set at pricing.

The payout at maturity will be par.

The CDs (Cusip: 949748ZR1) will price on Sept. 23 and settle on Sept. 30.

Incapital LLC 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.