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Wells Fargo plans six-year market-linked CDs on BRIC currency basket
By Marisa Wong
Madison, Wis., Aug. 3 - Wells Fargo Bank, NA plans to price 0% market-linked certificates of deposit due Aug. 25, 2017 linked to a basket of equally weighted currencies relative to the U.S. 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 1.6 times to 2.0 times the basket return, with a minimum return of 6%. The exact participation rate will be set at pricing.
The CDs will price on Aug. 22 and settle on Aug. 26.
The Cusip is 949748J65.
Incapital LLC is the distributor.
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