Wells plans six-year market-linked CDs on currencies with 6% floor

By Susanna Moon

Chicago, May 2 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due May 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, the Brazilian real, the Canadian dollar and the Norwegian krone.

The payout at maturity will be par plus 2.8 times to 3.2 times the basket return, subject to a minimum return of 6%. The exact participation rate will be set at pricing.

Incapital LLC is the distributor.

The CDs will price on May 24 and settle on May 31.

The Cusip is 949748G35.

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