Wells Fargo Bank plans to sell four-year CDs tied to BRIC currencies

By Susanna Moon

Chicago, Dec. 3 - Wells Fargo Bank, NA plans to price certificates of deposit due Dec. 26, 2013 based on the performance of four currencies relative to the dollar, according to a term sheet.

The underlying currencies are the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.

The payout at maturity will be par plus the gain of the currency basket, with a floor of par plus 3% to 4%. The exact floor will be set at pricing.

The CDs will price on Dec. 18 and settle on Dec. 28.

Incapital LLC is the distributor.

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