SunTrust Bank plans shark fin barrier CDs linked to Dow Industrials

By Susanna Moon

Chicago, March 3 - SunTrust Bank plans to price four-year 0% shark fin barrier certificates of deposit linked to the Dow Jones Industrial Average, according to a term sheet.

If the index never closes above the upper barrier - 170% to 185% of the initial level - the payout at maturity will be par plus any basket gain, subject to a minimum return of 4% and a maximum return of 70% to 85%. The exact barrier level and cap will be set at pricing.

If the index closes above the upper barrier during the life of the CDs, the payout will be par plus 4%.

The CDs will price on March 23 and settle on March 27.

Incapital LLC is the distributor.

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