Published on 1/3/2011 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $7.01 million enhanced growth notes on fund basket
By Susanna Moon
Chicago, Jan. 3 - Wells Fargo & Co. priced $7.01 million of 0% enhanced growth securities due July 8, 2013 based on 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 ETF Trust with a 45% weight, the iShares Russell 2000 index fund with a 20% weight, the iShares MSCI EAFE 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 1.25 times any basket gain, up to a maximum return of $1,370 per $1,000 principal amount.
Investors will receive par for losses up to 15% and will share in the losses beyond 15%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Enhanced growth securities
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Underlying funds: | SPDR S&P 500 ETF Trust (45% weight), the iShares Russell 2000 index fund (20% weight), the iShares MSCI EAFE index fund (20% weight) and the iShares MSCI Emerging Markets index fund (15% weight)
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Amount: | $7,011,000
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Maturity: | July 8, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 125% of any basket gain, capped at 37%; exposure to losses beyond 15%
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Initial level: | $125.92 for S&P, $78.91 for Russell, $58.15 for MSCI EAFE and $47.07 for MSCI Emerging Markets
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Pricing date: | Dec. 29
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Settlement date: | Jan. 5
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.25%
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Cusip: | 94986RBW0
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