Published on 8/2/2013 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $5.06 million seven-year market-linked notes tied to fund basket
By Toni Weeks
San Luis Obispo, Calif., Aug. 2 - Wells Fargo & Co. priced $5.06 million of 0% market-linked notes due Aug. 7, 2020 tied to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 ETF trust with a 50% weight, the SPDR S&P MidCap 400 ETF trust with a 25% weight and the iShares Russell 2000 index fund with a 25% weight.
The payout at maturity will be par plus 128% of any basket gain.
If the basket falls, the payout will be par.
The final basket level will be calculated using the average component return of each ETF, which is the average of the ETF returns on the last trading day of each January, April, July and October from October 2013 until July 2020, inclusive.
Wells Fargo Securities, LLC will be the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market-linked notes
|
| Underlying ETFs: | SPDR S&P 500 ETF trust (50% weight), SPDR S&P MidCap 400 ETF trust (25% weight), iShares Russell 2000 index fund (25% weight)
|
| Amount: | $5,056,000
|
| Maturity: | Aug. 7, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 128% of gain; otherwise, par
|
| Initial levels: | $168.66 for SPDR S&P 500 ETF, $223.98 for SPDR S&P MidCap 400 ETF and $103.67 for iShares Russell 2000 ETF
|
| Average component return: | For each ETF, average of the ETF returns on the last trading day of each January, April, July and October from October 2013 until July 2020, inclusive
|
| Final basket level: | Calculated using average component return for each ETF
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 8
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 1.5%
|
| Cusip: | 94986RQS3
|
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