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Wells Fargo plans growth notes tied to commodities with 40%-50% cap
By Susanna Moon
Chicago, Aug. 4 - Wells Fargo & Co. plans to price 0% growth securities due March 2015 linked to a basket of equally weighted commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying commodities are silver, copper, nickel, corn, soybeans, cotton, Brent crude oil and RBOB gasoline.
The payout at maturity will be par plus 1.5 times any basket gain, up to a maximum return of 40% to 50%. The exact cap will be set at pricing.
Investors will receive par if the basket falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
Wells Fargo Securities, LLC is the underwriter.
The notes will price and settle in September.
The Cusip is 94986RFC0.
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