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Wells Fargo plans 2.5-year access securities tied to currency basket
By Marisa Wong
Madison, Wis., Dec. 1 - Wells Fargo & Co. plans to price 0% access securities due July 2013 based on the performance of four equally weighted currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying currencies are the Brazilian real, the Australian dollar, the Norwegian krone and the Canadian dollar.
If the basket finishes at or above its initial level, the payout at maturity will be par plus any gain, with a minimum contingent return of 18% to 21%.
Otherwise, investors will be exposed to any losses.
The notes (Cusip: 94986RBU4) will settle in January.
Wells Fargo Securities, LLC is the agent.
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