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Wells Fargo Bank to price CDs linked to Dow Jones Industrial Average
By Angela McDaniels
Tacoma, Wash., June 6 - Wells Fargo Bank, NA plans to price 0% certificates of deposit due June 30, 2017 linked to the Dow Jones Industrial Average, according to a term sheet.
The payout at maturity will be par plus the greater of the index return and the minimum return, which is expected to be 3% to 6% and will be set at pricing.
The final index level used to calculate the return will be the average of the index's closing levels on June 24 and Dec. 24 of each year from Dec. 24, 2011 to June 24, 2017.
The CDs (Cusip: 949748H34) are expected to price June 24 and settle June 30.
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