Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Australian dollar > News item |
Wells Fargo to price notes with averaging linked to currency basket
By Angela McDaniels
Tacoma, Wash., March 5 - Wells Fargo & Co. plans to price 0% market-linked notes due October 2016 linked to the performance of a basket of currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Australian dollar with a 33.4% weight, the Norwegian krone with a 33.3% weight and the Canadian dollar with a 33.3% weight.
The payout at maturity will be par plus the percentage increase, if any, in the basket level from the starting level to the average ending level, subject to a minimum return of 2% to 4% that will be set at pricing.
The average ending level will be based on the average of the exchange rates of the basket currencies on semiannual dates during the term of the notes. The basket is designed to appreciate if the components appreciate relative to the U.S. dollar.
The notes (Cusip: 94986RHY0) are expected to settle in April.
Wells Fargo Securities, LLC is the agent.
© 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.