Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for AT&T, Inc. > News item |
Wells Fargo plans variable annual interest CDs linked to five stocks
By Angela McDaniels
Tacoma, Wash., March 6 – Wells Fargo Bank, NA plans to price variable annual interest certificates of deposit due April 1, 2024 linked to five stocks, according to a term sheet.
The underlying companies are Apple Inc., AT&T Inc., Bristol-Myers Squibb Co., Cisco Systems, Inc. and Nike, Inc.
Interest will be payable annually. If each underlying stock closes at or above its initial share price on the valuation date for that year, the coupon will be 5% to 5.5%, with the exact rate to be set at pricing. If any stock closes below its initial share price on the valuation date, the coupon for that year will be 1.25%.
The payout at maturity will be par plus the final coupon.
Incapital LLC is the distributor.
The CDs will price March 28.
The Cusip number is 94986TN94.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.