Wells plans enhanced growth securities linked to S&P, iShares funds

By Jennifer Chiou

New York, March 5 - Wells Fargo & Co. plans to price 0% enhanced growth securities with buffered downside due July 2012 linked to a global equity basket, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the S&P 500 index with a 40% weight, the iShares MSCI EAFE index fund with a 30% weight, the iShares Russell 2000 index fund with a 20% weight and the iShares MSCI Emerging Markets index fund with a 10% weight.

The payout at maturity will be par plus 1.5 times any gain in the basket, up to a maximum redemption of $1,280 to $1,310 per note, with the exact cap to be set at pricing.

Investors will receive par if the shares fall by up to 10% and will lose 1.1111% for each 1% drop beyond 10%.

Wells Fargo Securities, LLC is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.