Wells Fargo to price barrier return rebate CDs linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., March 7 - Wells Fargo Bank, NA plans to price 0% barrier return rebate certificates of deposit due Sept. 28, 2018 linked to the Russell 2000 index, according to a term sheet.

If the index's closing level never increases above the threshold level during the life of the CDs, the payout at maturity will be par plus the index return, subject to a minimum payout of par. The threshold level is expected to be 170% to 180% of the initial index level and will be set at pricing.

If the index's closing level increases above the threshold level during the life of the CDs, the payout at maturity will be par plus 10%.

The CDs (Cusip: 949748N78) are expected to price March 23 and settle March 30.

Incapital LLC is the distributor.

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