Wells Fargo Bank to price four-year CDs linked to BRIC currencies

By Angela McDaniels

Tacoma, Wash., Jan. 5 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due Jan. 29, 2014 linked to the performance of a basket of currencies relative to the dollar, according to a term sheet.

The basket includes the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi.

The payout at maturity will be par plus the greater of the basket return and the minimum interest amount, which is expected to be 3% to 4% and will be set at pricing.

The CDs are expected to price Jan. 22 and settle Jan. 29.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.