Wells Fargo Bank to price CDs linked to Dow Jones Industrial Average

By Marisa Wong

Madison, Wis., May 2 - Wells Fargo Bank, NA plans to price 0% certificates of deposit due May 31, 2017 linked to the Dow Jones Industrial Average, according to a term sheet.

The payout at maturity will be par plus the greater of the index return and the minimum return, which is expected to be 6% to 9% and will be set at pricing.

The final index level used to calculate the return will be the average of the index's closing levels on May 24 and Nov. 24 of each year from Nov. 24, 2011 to May 24, 2017.

The CDs (Cusip: 949748G27) are expected to price May 24 and settle May 31.

Incapital LLC is the distributor.

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