Wells Fargo plans six-year market-linked CDs on BRIC currency basket

By Susanna Moon

Chicago, June 29 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due July 31, 2017 linked to a basket of equally weighted currencies relative to the U.S. dollar, according to a term sheet.

The underlying currencies are the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi.

The payout at maturity will be par plus 1.8 times to 2.2 times the basket return, with a minimum return of 6%. The exact participation rate will be set at pricing.

Incapital LLC is the distributor.

The CDs will price on July 25 and settle on July 29.

The Cusip is 949748J40.

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