New Issue: Wells Fargo prices $6.79 million growth securities linked to three ETFs

By Angela McDaniels

Tacoma, Wash., Feb. 2 - Wells Fargo & Co. priced $6.79 million of 0% growth securities due Aug. 7, 2014 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the SPDR S&P 500 ETF trust with a 50% weight, the iShares Russell 2000 index fund with a 25% weight and the SPDR S&P MidCap 400 ETF trust with a 25% weight.

The payout at maturity will be par plus double any increase in the basket, subject to a maximum return of 28%. Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that the basket declines beyond 10%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Growth securities
Underlying ETFs:	SPDR S&P 500 ETF trust (50% weight), iShares Russell 2000 index fund (25% weight) and SPDR S&P MidCap 400 ETF trust (25% weight)
Amount:	$6,792,000
Maturity:	Aug. 7, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any basket increase, subject to maximum return of 28%; par if basket declines by 10% or less; 1% loss for every 1% that basket declines beyond 10%
Initial share prices:	$131.21 for SPDR S&P 500, $79.07 for iShares Russell 2000 and $170.00 for SPDR S&P MidCap 400
Pricing date:	Jan. 31
Settlement date:	Feb. 7
Agent:	Wells Fargo Securities, LLC
Fees:	1.75%
Cusip:	94986RGX3

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.