SunTrust Bank plans CDs linked to index basket

By Jennifer Chiou

New York, Nov. 5 - SunTrust Bank plans to price 1% to 2% certificates of deposit due Nov. 27, 2013 linked to equal weights of the S&P 500, Dow Jones Euro Stoxx 50 and Nikkei 225 indexes, according to a term sheet.

The payout at maturity will be par plus any basket gain. Investors will receive at least par.

Beginning Dec. 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 Nov. 21 and settle on Nov. 26.

Incapital LLC is the distributor.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.