Published on 6/30/2011 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $6.65 million enhanced growth notes linked to commodities
By Angela McDaniels
Tacoma, Wash., June 30 - Wells Fargo & Co. priced $6.65 million of 0% enhanced growth securities due July 8, 2015 linked to a commodity basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of West Texas Intermediate crude oil, Brent crude oil and RBOB gasoline, each with a 10% weight; sugar and lean hogs with a 7% weight each; cotton with a 6% weight; and gold, silver, platinum, aluminum, copper, lead, nickel, corn, wheat and soybeans, each with a 5% weight.
If the final basket level is greater than the initial level, the payout at maturity will be par plus 128% of the gain.
If the final basket level is less than the initial level, investors will lose 0.7% for every 1% that the basket declines.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Enhanced growth securities
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Underlying commodities: | West Texas Intermediate crude oil (10% weight), Brent crude oil (10% weight), RBOB gasoline (10% weight), sugar (7% weight), lean hogs (7% weight), cotton (6% weight), gold (5% weight), silver (5% weight), platinum (5% weight), aluminum (5% weight), copper (5% weight), lead (5% weight), nickel (5% weight), corn (5% weight), wheat (5% weight) and soybeans (5% weight)
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Amount: | $6.65 million
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Maturity: | July 8, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.28% for every 1% that basket gains; par minus 0.7% for every 1% that basket declines
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Pricing date: | June 28
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Settlement date: | July 6
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.5%
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Cusip: | 94986REH0
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