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Harris to price six-year principal-protected CDs tied to iShares Dow Jones Select Dividend ETF
By Marisa Wong
Madison, Wis., Aug. 3 - Harris NA plans to price principal-protected certificates of deposit due Aug. 31, 2016 linked to the iShares Dow Jones Select Dividend index fund, according to a term sheet.
The payout at maturity will be par plus the index fund return, which is subject to a cap of 34.05% and a floor of 0%.
The CDs are callable at any time beginning March 1, 2011. If called, the CDs will pay a 5% annualized call premium.
The CDs (Cusip: 41456TJE0) will price on Aug. 26 and settle on Aug. 31.
Incapital LLC is the distributor.
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