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Wells Fargo to price participation securities linked to index, ETFs
By Angela McDaniels
Tacoma, Wash., Oct. 6 - Wells Fargo & Co. plans to price 0% participation securities with partial principal protection due May 2015 linked to an equity basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the S&P 500 index with a 50% weight, the iShares MSCI EAFE index fund with a 30% weight and the iShares MSCI Emerging Markets index fund with a 20% weight.
The payout at maturity will be par plus 100% to 110% of any basket gain, with the exact participation rate to be set at pricing. Investors will receive par if the basket declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
Wells Fargo Securities, LLC is the underwriter.
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