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Wells Fargo to price enhanced growth notes linked to ETF basket
By Angela McDaniels
Tacoma, Wash., May 5 - Wells Fargo & Co. plans to price 0% enhanced growth securities due December 2015 with upside participation to a cap and contingent downside protection linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes 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 and the iShares MSCI Emerging Market index fund with a 15% weight.
The payout at maturity will be par plus 150% of any increase in the basket, subject to a maximum return of 50% to 60% that will be set at pricing.
If the basket declines by 40% or less, the payout will be par.
If the basket declines by more than 40%, investors will be fully exposed to the decline from the initial level.
The notes (Cusip: 94986RDT5) will settle in June.
Wells Fargo Securities, LLC is the agent.
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