By Susanna Moon
Chicago, June 29 - Wells Fargo & Co. priced $4.75 million of 0% growth securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 6, 2015 linked to a basket of three exchange-traded 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 28%.
Investors will receive par if the basket 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
|
| Issue: | Growth securities with leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying components: | SPDR S&P 500 ETF trust (50% weight), SPDR S&P MidCap 400 ETF Trust (25% weight) and iShares Russell 2000 index fund (25% weight)
|
| Amount: | $4,752,000
|
| Maturity: | Jan. 6, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any basket gain, capped at 28%; par if basket falls by 10% or less; exposure to losses beyond 10%
|
| Initial prices: | $133.17 for S&P 500, $166.29 for midcap and $77.44 for Russell
|
| Threshold prices: | 90% of initial prices
|
| Pricing date: | June 27
|
| Settlement date: | July 5
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 1.75%
|
| Cusip: | 94986RJZ5
|
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