Wells Fargo Bank plans certificates of deposit tied to five currencies

By Angela McDaniels

Tacoma, Wash., April 4 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due April 30, 2018 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 Australian dollar, the Chinese renminbi, the Norwegian krone, the Singapore dollar and the Swiss franc.

The payout at maturity will be par plus 100% to 140% of the basket return, subject to a minimum payout of par. The exact participation rate will be set at pricing.

The CDs (Cusip: 949748P35) will price April 24 and settle April 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.