Published on 2/2/2011 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $5.16 million access securities tied to commodities
By Toni Weeks
San Diego, Feb. 2 - Wells Fargo & Co. priced $5.16 million of 0% access securities with upside participation and fixed percentage buffered downside due Aug. 7, 2014 linked to a basket of commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes crude oil, platinum, copper, corn and cotton, each with a weight of 20%.
The payout at maturity will be par plus 1.5 times the basket return. Investors will receive par if the basket declines by 15% or less and will share in any losses beyond that buffer.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Access securities
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Underlying components: | Crude oil, platinum, copper, corn and cotton, each with a 20% weight
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Amount: | $5.16 million
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Maturity: | Aug. 7, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any basket return; par if basket falls by 15% or less; 1% loss for every 1% decline beyond 15%
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Pricing date: | Jan. 31
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Settlement date: | Feb. 7
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.25%
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Cusip: | 94986RCJ8
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