Published on 9/30/2011 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $2.38 million growth securities linked to eight commodities
By Toni Weeks
San Diego, Sept. 30 - Wells Fargo & Co. priced $2.38 million of 0% growth securities with upside participation to a cap and fixed percentage buffered downside due April 8, 2015 linked to an equally weighted basket of eight commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is comprised of silver, copper, nickel, corn, soybeans, cotton, Brent crude oil and RBOB gasoline.
The payout at maturity will be par plus 150% of any gain in the basket, subject to a maximum return of 51%. Investors will receive par if the basket declines by up to 15% and will be exposed to losses beyond 15%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Growth securities with upside participation to a cap and fixed percentage buffered downside
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Underlying components: | Silver, copper, nickel, corn, soybeans, cotton, Brent crude oil and RBOB gasoline, all equally weighted
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Amount: | $2,384,000
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Maturity: | April 8, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at 51%; exposure to losses beyond 15%
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Initial prices: | $0.03104 cents for silver, $7,416.00 for copper, $18,610.00 for nickel, $6.3075 cents for corn, $12.235 cents for soybeans, $0.9953 cents for cotton, $103.81 for Brent crude and $2.6507 for RBOB gasoline
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Threshold level: | 85% of initial level
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Pricing date: | Sept. 28
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Settlement date: | Oct. 5
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.25%
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Cusip: | 94986RFT3
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