By Susanna Moon
Chicago, Aug. 2 - Wells Fargo & Co. priced $5.39 million of 0% growth securities with leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 6, 2015 linked to the iShares MSCI Russell 2000 index fund, 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 1.5 times any gain in the basket, up to a maximum return of 26%.
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 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 basket: | SPDR S&P 500 ETF Trust (50% weight), the SPDR S&P MidCap 400 ETF Trust (25% weight) and the iShares Russell 2000 index fund (25% weight)
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Amount: | $5,392,000
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Maturity: | Feb. 6, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any basket gain, capped at 26%; par if basket falls by up to 10%; exposure to losses beyond 10%
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Initial levels: | $137.71 for SPDR S&P 500, $171.26 for midcap fund and $78.35 for Russell fund
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Threshold levels: | 90% of initial price
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Pricing date: | July 31
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Settlement date: | Aug. 7
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Underwriter: | Wells Fargo Securities, LLC
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Fees: | 1.75%
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Cusip: | 94986RKP5
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