Harris to price contingent semiannual payout CDs linked to 10 stocks

By Angela McDaniels

Tacoma, Wash., May 5 - Harris NA plans to price principal-protected contingent semiannual payout certificates of deposit due May 28, 2015 linked to an equally weighted basket of common stocks, according to a term sheet.

The basket includes Apple Inc., Consolidated Edison, Inc., International Business Machines Corp., Deere & Co., Exxon Mobil Corp., Johnson & Johnson, Target Corp., Verizon Communications Inc., Wal-Mart Stores, Inc. and Wells Fargo & Co.

Interest is payable on May 28 and Nov. 28 of each year and will equal the sum of the weighted performances of the basket stocks, subject to a floor of zero.

If a stock's return is positive, its performance will be a fixed percentage that is expected to be at least 4% and will be set at pricing. If a stock's return is negative, its performance will be equal to its return.

The payout at maturity will be par.

The CDs will price May 25 and settle May 28.

Incapital LLC is the distributor.

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