Published on 6/29/2012 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $2.54 million growth notes linked to Vanguard REIT ETF
By Angela McDaniels
Tacoma, Wash., June 29 - Wells Fargo & Co. priced $2.54 million of 0% growth securities with leveraged upside participation to a cap and fixed percentage buffered downside due April 7, 2016 linked to the Vanguard REIT exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any increase in the ETF's share price, subject to a maximum return of 42%. Investors will receive par if the share price declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Growth securities with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying ETF: | Vanguard REIT ETF
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Amount: | $2,541,000
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Maturity: | April 7, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any ETF increase, subject to maximum return of 42%; par if ETF declines by 15% or less; 1% loss for every 1% that ETF declines beyond 15%
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Initial share price: | $63.11
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Pricing date: | June 27
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Settlement date: | July 5
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2%
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Cusip: | 94986RKC4
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