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Harris to price 15-year CDs linked to six-month Libor BBA via BMO
By Angela McDaniels
Tacoma, Wash., Jan. 10 - Harris NA plans to price certificates of deposit due Jan. 28, 2026 linked to six-month Libor BBA via agent BMO Capital Markets Corp., according to a term sheet.
The coupon will be 5.15% for the first year. Beginning Jan. 28, 2012, the coupon will be 5.15% multiplied by the proportion of days on which six-month Libor BBA is between 0% and 6%. Interest will be payable quarterly.
The payout at maturity will be par.
The CDs will be callable on any interest payment date from Jan. 28, 2012 onward.
The CDs (Cusip: 41456TMB2) are expected to settle Jan. 28.
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