Wells Fargo to price four-year CDs linked to basket of currencies

By Angela McDaniels

Tacoma, Wash., July 6 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due July 31, 2014 linked to the performance of the U.S. dollar relative to a basket of currencies, according to a term sheet.

The equally weighted basket includes the Australian dollar, Brazilian real, Canadian dollar and Norwegian krone.

The payout at maturity will be par plus the basket return, subject to a minimum return that is expected to be 1% to 3% and will be set at pricing.

The basket return will be positive if the U.S. dollar depreciates relative to the basket currencies.

The CDs (Cusip: 949748ZE0) are expected to price July 23 and settle July 30.

Incapital LLC is the distributor.

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