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Wells Fargo plans to price capped growth securities tied to ETF basket
By Toni Weeks
San Diego, Aug. 28 - Wells Fargo & Co. plans to price growth securities with leveraged capped upside and contingent downside protection due September 2017 linked to a basket of three exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is comprised of the SPDR S&P 500 ETF Trust with a 70% weight, the iShares Russell 1000 Value index fund with a 15% weight and the iShares Russell 2000 Growth index fund with a 15% weight.
The payout at maturity will be par plus 1.5 times any gain in the basket, up to a maximum return of at least 90% that will be set at pricing.
Investors will receive par if the basket falls by up to 20% and will be fully exposed to losses if the basket declines by more than 20%.
Wells Fargo Securities, LLC is the agent.
The Cusip number is 94986RLG4.
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