Wells Fargo plans market-linked CDs tied to precious metals basket

By Toni Weeks

San Diego, April 20 - Wells Fargo Bank, NA plans to price market-linked certificates of deposit due April 28, 2017 linked to a weighted basket of three precious metals, according to a pricing sheet.

The basket is comprised of gold, with a 50% weight, silver, with a 35% weight, and platinum, with a 15% weight.

The payout at maturity will be par plus any gain in the basket, capped at $440 to $520 per $1,000 deposit amount of a CD. The exact cap will be set at pricing.

Investors will receive a minimum of par.

The CDs (Cusip: 949748F36) are expected to price April 25 and settle April 29.

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