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

By Marisa Wong

Milwaukee, May 6 - Wells Fargo Bank, NA plans to price market-linked certificates of deposit due May 30, 2014 based on a basket of equally weighted currencies relative to the dollar, according to a term sheet.

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

The payout at maturity will be par plus the greater of a 4% minimum interest amount and 100% to 120% of any basket gain, with the exact participation rate to be set at pricing.

The CDs will price on May 21 and settle on May 28.

© 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.