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Wells Fargo plans growth securities due 2015 linked to fund basket
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 January 2015 linked to a basket of three 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 SPDR S&P MidCap 400 ETF Trust with a 25% weight and the iShares Russell 2000 index fund with a 25% weight.
The payout at maturity will be par plus double any gain in the basket, up to a maximum return of 27% to 32%. The exact cap will be set at pricing.
Investors will receive par if the basket falls by up to 10% and will be exposed to losses beyond the 10% buffer.
Wells Fargo Securities, LLC is the agent.
The notes will settle in July.
The Cusip number is 94986RJZ5.
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