Wells Fargo to price growth securities linked to Vanguard REIT ETF

By Angela McDaniels

Tacoma, Wash., July 3 - Wells Fargo & Co. plans to price 0% growth securities with leveraged upside participation to a cap and fixed percentage buffered downside due May 2016 linked to the Vanguard REIT exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF's final share price is greater than the initial share price, the payout at maturity will be par plus 200% of the ETF return, subject to a maximum return of 41% to 46% that will be set at pricing. Investors will receive par if the share price declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.

The ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI US REIT index, which is a free float-adjusted market capitalization index that aims to represent the performance of the equity real estate investment trust investment universe in the United States.

The notes will settle in August.

Wells Fargo Securities LLC is the agent.

The Cusip number is 94986RKR1.

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