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SunTrust plans certificates of deposit linked to three indexes
By Jennifer Chiou
New York, July 31 - SunTrust Bank plans to price certificates of deposit linked to a basket containing equal weights of the S&P 500, Dow Jones Euro Stoxx 50 and Nikkei 225 indexes, according to a term sheet.
The CDs, which mature on Aug. 17, 2012, will pay par plus 115% to 120% of the basket return. There will be a minimum return of at least 5%.
Beginning on Sept. 15, 2009, holders may put back their securities on any quarterly early redemption date, but will not receive guaranteed principal protection.
The CDs will price on Aug. 22 and settle on Aug. 27.
The commercial bank is based in Atlanta.
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