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Wells Fargo plans growth securities due 2016 tied to Vanguard REIT ETF
By Susanna Moon
Chicago, June 5 - Wells Fargo & Co. plans to price 0% growth securities with leveraged capped upside and fixed percentage buffered downside due April 2016 linked to the Vanguard REIT ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the fund, up to a maximum return of 41% to 46%. The exact cap will be set at pricing.
Investors will receive par if the shares fall by up to 15% and will be exposed to losses beyond the 15% buffer.
Wells Fargo Securities, LLC is the agent.
The notes will settle in July.
The Cusip number is 94986RKC4.
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