Wells Fargo plans CDs tied to CS Retiree Consumer Expenditure 5% index

By Susanna Moon

Chicago, Jan. 10 – Wells Fargo Bank, NA plans to price variable annual interest certificates of deposit due Jan. 30, 2024 linked to the CS Retiree Consumer Expenditure 5% Blended Index Excess Return, according to a term sheet.

The payout at maturity will be par plus 155% to 165% of any index gain. The exact participation rate will be set at pricing.

If the index falls, the payout will be par.

Incapital LLC is the distributor.

The CDs will price on Jan. 26 and settle on Jan. 30.

The Cusip number is 94986TK63.

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