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Wells Fargo to price enhanced growth securities linked to ETF basket
By Jennifer Chiou
New York, Aug. 27 - Wells Fargo & Co. plans to price 0% enhanced growth securities due September 2013 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the iShares MSCI EAFE index fund with a 75% weight and the SPDR S&P MidCap 400 ETF trust with a 25% weight.
The payout at maturity will be par plus 1.5 times any basket gain, up to a maximum return of 36% to 40%. The exact cap will be set at pricing.
Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
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