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Wells Fargo plans enhanced growth notes linked to fund basket with contingent protection
By Angela McDaniels
Tacoma, Wash., Dec. 1 - Wells Fargo & Co. plans to price 0% enhanced growth securities due January 2015 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the SPDR S&P 500 ETF trust with a 45% weight, the iShares Russell 2000 index fund with a 20% weight, the iShares MSCI EAFE index fund with a 20% weight and the iShares MSCI Emerging Markets index fund with a 15% weight.
The payout at maturity will be par plus 150% of any increase in the basket, subject to a maximum return of 40% to 50% that will be set at pricing. Investors will receive par if the basket declines by 40% or less and will receive par plus the basket return if it declines beyond 40%.
The notes (Cusip 94986RBX8) will settle in January.
Wells Fargo Securities, LLC is the agent.
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