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Wells Fargo plans market-linked CDs due 2015 tied to currency basket
By Marisa Wong
Madison, Wis., Aug. 31 - Wells Fargo Bank, NA plans to price market-linked certificates of deposit due March 31, 2015 linked to 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 coupon will be equal to the basket return, with a floor of 2% to 4% that will be set at pricing.
The payout at maturity will be par.
The CDs (Cusip: 949748ZR1) will price on Sept. 23 and settle on Sept. 30.
Incapital LLC is the distributor.
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