Published on 9/29/2010 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $7.29 million 18-month access securities linked to fund basket
By Susanna Moon
Chicago, Sept. 29 - Wells Fargo & Co. priced $7.29 million of 0% access securities due March 30, 2012 linked to a basket of equally weighted exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying funds are the iShares MSCI EAFE index fund, the iShares Russell 2000 index fund, the SPDR S&P 500 exchange-traded fund trust and the SPDR S&P MidCap 400 exchange-traded fund trust.
The payout at maturity will be par plus any basket gain, up to a maximum return of 15%.
Investors will receive par if the basket falls by 15% or less and will lose 1.17647% for every 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Access securities
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Underlying funds: | iShares MSCI EAFE index fund, the iShares Russell 2000 index fund, the SPDR S&P 500 exchange-traded fund trust and the SPDR S&P MidCap 400 exchange-traded fund trust, equally weighted
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Amount: | $7.29 million
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Maturity: | March 30, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any basket gain, capped at 15%; 1.17647% loss per 1% drop beyond 15%
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Initial levels: | $114.32 for S&P 500, $66.82 for Russell, $55.10 for MSCI EAFE and $144.35 for S&P MidCap 400
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Pricing date: | Sept. 27
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Settlement date: | Sept. 30
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.75%
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Cusip: | 94986RBD2
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