Published on 3/2/2012 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $4.75 million market-linked notes due 2016 tied to currency basket
By Toni Weeks
San Diego, March 2 - Wells Fargo & Co. priced $4.75 million of 0% market-linked notes due Sept. 8 2016 linked to a basket of currencies, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying currencies are the Australian dollar, the Norwegian krone and the Canadian dollar, each weighted at about one-third and relative to the U.S. dollar.
The payout at maturity will be par plus any basket gain, with a minimum return of 2%.
If the basket falls, the payout will be equal to the minimum return.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Growth securities with upside participation to a cap
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Underlying currencies: | Australian dollar, Norwegian krone and Canadian dollar, each weighted at about one-third and relative to the U.S. dollar
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Amount: | $4,746,000
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Maturity: | Sept. 8, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain in the basket, floor of 2%; 2% if basket declines
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Initial exchange rates: | 1.08045 for Australian dollar, 0.17993 for krone, 1.01528 for Canadian dollar
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Pricing date: | Feb. 29
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Settlement date: | March 7
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.25%
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Cusip: | 94986RHM6
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