Wells Fargo plans to price six-year CDs linked to BRIC currencies

By Toni Weeks

San Diego, Nov. 9 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due Nov. 27, 2017 linked to the performance of a basket of currencies relative to the dollar, according to a term sheet.

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

The payout at maturity will be par plus 170% to 200% of the basket return if the basket increases. The exact participation rate will be set at pricing. Investors will receive par if the basket declines.

The CDs (Cusip: 949748L96) are expected to price Nov. 21 and settle Nov. 28.

Incapital LLC is the distributor.

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