Wells Fargo plans 6.5-year market-linked notes linked to fund basket

By Susanna Moon

Chicago, Nov. 15 - Wells Fargo & Co. plans to price contingent annual interest market-linked certificates of deposit due June 2017 based on a basket of exchange-traded funds, according to a term sheet.

The basket consists of the SPDR S&P 500 ETF trust with a 60% weight, the iShares MSCI EAFE index fund with a 30% weight and the iShares MSCI Emerging Markets index fund with a 10% 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.

If the basket falls, the payout will be par.

The notes (Cusip 94986RBQ3) are expected to settle in December.

Wells Fargo Securities, LLC is the underwriter.

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