On or about XX/XX/XXXX I went to the local Sun Trust bank to open a CD. I was referred to the investment Rep, XXXX XXXX, to consider their " Sun Trust Index-linked Certificates of Deposit ( SILC ). I was given some paper work which I read and was told that the SILC was only available until the end of the month. I was not told and no where in the paperwork did I find any info indicating that they would charge a surcharge for opening the account. I opened an account for a {$50000.00} six year CD with a guaranteed return of 5.5 % at the end of the term but that it could be higher based on the XXXX XXXX XXXX. In early XXXX I received a statement indicating that my account with a settlement date of XX/XX/XXXX had a value of only {$48000.00} and a cost basis of {$50000.00} as of XX/XX/XXXX with an unrealized loss of {$1500.00}. I questioned XXXX XXXX as to what happened to the money. He said it was due to fluctuation in the market which I told him was impossible to have a drop in the XXXX of exactly 3 % on the day of the transaction. He later changed the story which he has changed a few other times and now says it is in the document that there would be a charge but he still will not tell me where in the document this info exist. In XX/XX/XXXX I received a XXXX for the {$410.00} interest but no mention of a fee. I obviously had to pay tax on the {$410.00}. It appears that they treat the income similar to other stocks or bonds but not the cost basis. I feel someone needs to review where those funds go. I have never heard that a bank charges for opening a CD. 
