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Wells Fargo to offer 3.5-year access securities linked to fund basket
By Susanna Moon
Chicago, Sept. 13 - Wells Fargo & Co. plans to price 0% access securities due April 2014 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 exchange-traded fund trust with a 45% weight, the iShares MSCI EAFE index fund with a 20% weight, the iShares Russell 2000 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 any basket gain, up to a maximum return of 40% to 50%. If the basket gains, there is a contingent minimum return of 25%.
Investors will receive par if the basket falls by 20% or less and will lose 1.25% for every 1% decline beyond 20%.
The notes (Cusip 94986RBA8) will settle in October.
The exact deal terms will be set at pricing.
Wells Fargo Securities, LLC is the agent.
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