Published on 10/17/2012 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $11.13 million growth securities linked to S&P 500
By Toni Weeks
San Diego, Oct. 17 - Wells Fargo & Co. priced $11.13 million of 0% growth securities with leveraged upside participation to a cap and fixed percentage buffered downside due April 20, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 125% of any index gain, subject to a maximum return of 32%. Investors will receive par if the index declines by up to 15% and will be exposed to losses beyond the 15% buffer.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Growth securities with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $11,128,000
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Maturity: | April 20, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 125% of any index gain, subject to a maximum return of 32%; par if index falls by up to 15%; exposure to losses beyond 15%
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Initial level: | 1,440.13
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Threshold level: | 1,224.11, 85% of initial level
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Pricing date: | Oct. 15
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Settlement date: | Oct. 18
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Agent: | Wells Fargo Securities, LLC
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Fees: | None
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Cusip: | 94986RLT6
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