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Wells Fargo to price enhanced growth notes linked to basket of ETFs
By Angela McDaniels
Tacoma, Wash., Aug. 11 - Wells Fargo & Co. plans to price 0% enhanced growth securities due February 2014 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 MSCI EAFE index fund with a 20% weight, the iShares MSCI Emerging Markets index fund with a 20% weight and the iShares Russell 2000 index fund with a 15% weight.
The payout at maturity will be par plus 1.25 times any basket gain, subject to a maximum return of 37% to 43% that will be set at pricing. Investors will receive par if the basket declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
The notes (Cusip: 94986RAP6) will price and settle in August.
Wells Fargo Securities, LLC is the agent.
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