Wells Fargo Bank plans certificates of deposit tied to four currencies

By Angela McDaniels

Tacoma, Wash., March 3 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due Sept. 28, 2016 linked to the performance of a basket of currencies relative to the U.S. dollar, according to a term sheet.

The basket includes equal weights of the Australian dollar, the Brazilian real, the Canadian dollar and the Norwegian krone.

The payout at maturity will be par plus 2 times to 2.25 times the basket return, subject to a minimum return of 5.5%. The exact participation rate will be set at pricing.

The CDs (Cusip: 949748D20) will price March 21 and settle March 28.

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