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Wells Fargo plans six-year market-linked CDs based on currency basket
By Susanna Moon
Chicago, Jan. 5 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due Jan. 31, 2017 linked to a basket of equally weighted currencies relative to the U.S. dollar, according to a term sheet.
The underlying currencies are the Australian dollar, Brazilian real, Canadian dollar and Norwegian krone.
The payout at maturity will be par plus 2.25 times to 2.5 times the basket return, subject to a minimum return of 6%. The exact participation rate will be set at pricing.
The CDs (Cusip 949748B22) will price on Jan. 24 and settle on Jan. 31.
Incapital LLC is the distributor.
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