Published on 6/29/2012 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $590,000 growth securities linked to SPDR S&P MidCap
By Susanna Moon
Chicago, June 29 - Wells Fargo & Co. priced $590,000 of 0% growth securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 5, 2016 linked to SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any gain in the index, up to a maximum return of 35%.
Investors will receive par if the index falls by up to 10% and will be exposed to losses beyond 10%.
Wells Fargo Securities, LLC is the underwriter.
Issuer: | Wells Fargo Securities, LLC
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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: | SPDR S&P MidCap 400 ETF Trust
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Amount: | $590,000
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Maturity: | Jan. 5, 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 index gain, capped at 35%; par if index falls by 10% or less; exposure to losses beyond 10%
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Initial prices: | $166.29 for midcap
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Threshold prices: | $149.66, 90% of initial price
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Pricing date: | June 27
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Settlement date: | July 5
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Underwriter: | Wells Fargo Securities, LLC
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Fees: | 2%
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Cusip: | 94986RKB6
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