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Wells Fargo plans CDs linked to SGI WISE U.S. Vol Target 8% index
By Jennifer Chiou
New York, Oct. 27 - Wells Fargo Bank NA plans to issue certificates of deposit due Nov. 30, 2015 linked to the SGI WISE US Vol Target 8% (USD-Excess Return) index, according to a term sheet.
The coupon will be 0.9 to 1.1 times any gain on the index, subject to a floor of zero, with the exact rate to be set at pricing.
The payout at maturity will be par.
The CDs will price on Nov. 20 and settle on Nov. 30.
SG America Securities, LLC is the agent. Incapital is the distributor.
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