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SunTrust Bank plans CDs linked to Deutsche Bank Balanced Currency Harvest index
By Angela McDaniels
Tacoma, Wash., Oct. 1 - SunTrust Bank plans to price 0% certificates of deposit due Oct. 18, 2011 linked to the Deutsche Bank Balanced Currency Harvest index, according to a term sheet.
The payout at maturity will be par plus the index return, subject to a floor of par and a maximum return of 60%.
Beginning Sept. 15, 2009, the CDs will be putable on quarterly early redemption dates. The redemption amount will be calculated differently than the payout at maturity, will include an early withdrawal penalty and may be less than par.
The CDs will price on Oct. 22 and settle on Oct. 27.
SunTrust Robinson Humphrey, Inc. and SunTrust Investment Services, Inc. will be the agents.
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