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SunTrust Bank to price certificates of deposit linked to gold
By Jennifer Chiou
New York, June 10 - SunTrust Bank plans to price certificates of deposit due July 1, 2014 linked to gold, according to a term sheet.
If the price of gold gains from the initial observation date, investors will share in any gains up to 65% to 75%. The cap will be set at pricing.
The payout at maturity will be at least par.
The securities have a survivor put.
The CDs will price on June 24 and settle on June 30.
SunTrust is the agent. Advisors Asset Management is the distributor.
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