Wells Fargo Bank plans certificates of deposit tied to four currencies

By Jennifer Chiou

New York, Oct. 2 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due April 30, 2019 linked to the performance of a basket of currencies relative to the U.S. dollar, according to a term sheet.

The basket includes equal weights of the Brazilian real, Australian dollar, Norwegian krone and Canadian dollar.

If the return is positive, the payout at maturity will be par plus the greater of the basket return and the contingent minimum interest amount that is to be set in the range of 13% to 18%. Investors will receive par if the basket finishes flat or negative.

The CDs (Cusip: 949748T56) will price on Oct. 25 and settle on Oct. 31.

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