Published on 3/30/2012 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $6.84 million growth securities tied to fund basket
By Susanna Moon
Chicago, March 30 - Wells Fargo & Co. priced $6.84 million of 0% growth securities with upside participation and buffered downside due Oct. 7, 2016 linked to a basket of 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 45% weight, the iShares Russell 2000 index fund with a 20% weight, the iShares MSCI EAFE index fund with a 20% weight and the iShares MSCI Emerging Markets index fund with a 15% weight.
The payout at maturity will be par plus 1.5 times any basket gain, up to a maximum return of 51%.
Investors will receive par if the basket falls by up to 20% and will lose 1% for each 1% decline beyond 20%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Growth securities
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Underlying basket: | SPDR S&P 500 ETF Trust (45% weight), the iShares Russell 2000 index fund (20% weight), the iShares MSCI EAFE index fund (20% weight) and the iShares MSCI Emerging Markets index fund (15% weight)
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Amount: | $6,837,000
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Maturity: | Oct. 7, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any basket gain, capped at 51%; par if basket falls by up to 20%; 1% loss per 1% drop beyond 20%
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Initial levels: | $140.43 for SPDR S&P, $83.30 for iShares Russell, $54.75 for MSCI EAFE and $42.69 for MSCI EM
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Trigger levels: | 80% of initial level
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Pricing date: | March 28
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Settlement date: | April 4
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.25%
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Cusip: | 94986RHW4
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