Harris to price protected certificates of deposit tied to S&P 500

By Jennifer Chiou

New York, June 17 - Harris NA plans to price contingent payout principal-protected certificates of deposit due June 30, 2014 linked to the S&P 500 index, according to a term sheet.

The 6.25% contingent coupon will be payable semiannually if the final index level on a coupon determination date is greater than the initial level. The coupon determination dates will occur three business days prior to the coupon payment dates on the 30th of June and December throughout the life of the securities.

The payout at maturity will be par.

The CDs will price on June 25 and settle on June 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.