Wells Fargo plans certificates of deposit linked to BRIC currencies

By Angela McDaniels

Tacoma, Wash., June 13 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due June 29, 2018 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 120% of the basket return, subject to a minimum return of 2% to 4% that will be set at pricing.

The CDs (Cusip: 949748Q91) are expected to price June 25 and settle June 29.

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