SunTrust Bank plans certificates of deposit on Consumer Price Index

By Jennifer Chiou

New York, June 10 - SunTrust Bank plans to price certificates of deposit due July 1, 2014 linked to the Consumer Price Index, according to a term sheet.

Interest will be payable monthly and will equal the year-over-year change in the index plus a spread of 1.55% per year. Interest is subject to a floor of zero.

The payout at maturity will be par.

There is a survivor put.

The CDs will settle on June 26.

SunTrust is the agent.

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