Deposits turn to rates and inflation in US

Wells Fargo's deposit structure is a long-term play linked to changes in the US Consumer Price Index (CPI), which compiles the price of a basket of consumer goods and services. It has a maturity of seven years and pays a guaranteed 3.25% for the first three. Interest payments will be made quarterly for the rest of the product's life, linked to the performance of the CPI plus a base rate of between 1.4-1.6% (with the exact level to be determined at strike). If that figure is negative, the cou