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Harris plans protected CDs inversely tied to Barclays 7-10Y Treasury
By Angela McDaniels
Tacoma, Wash., Sept. 8 - Harris NA plans to price principal-protected certificates of deposit due Sept. 30, 2016 inversely linked to the Barclays 7-10 Year Treasury index, according to a term sheet.
The payout at maturity will be par plus the greater of the index interest amount and 6%.
If the final index level is less than the initial level, the index interest amount will be the absolute value of the index return. Otherwise, the index interest amount will be zero.
The CDs (Cusip: 41456TJY6) will price Sept. 27 and settle Sept. 30.
Incapital LLC is the distributor.
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