Wells Fargo plans four-year market-linked CDs on currency basket

By Susanna Moon

Chicago, March 30 - Wells Fargo Bank, NA plans to price market-linked certificates of deposit due April 30, 2014 based on a basket of equally weighted currencies relative to the U.S. dollar, according to a term sheet.

The underlying currencies are the Australian dollar, Brazilian real, Canadian dollar and Norwegian krone.

The payout at maturity will be par plus 110% to 130% of any gain in the basket, with the exact participation rate to be set at pricing.

Investors will receive at least par.

The CDs will price on April 23 and settle on April 30.

Incapital LLC is the distributor.

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