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Wells Fargo plans six-year market-linked CDs tied to currencies
By Jennifer Chiou
New York, June 1 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due June 30, 2017 linked to performance of a basket of equally weighted 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 double to 2.4 times the basket return, subject to a minimum return of 6%. The exact participation rate will be set at pricing.
The CDs (Cusip: 949748H67) will price on June 24 and settle on June 30.
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