By Angela McDaniels
Tacoma, Wash., Aug. 31 - Wells Fargo & Co. priced $5.1 million of 0% growth securities with leveraged upside participation to a cap and contingent downside protection due Sept. 1, 2017 linked to a basket of 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 90%. Investors will receive par if the basket falls by up to 20% and will be fully exposed to the basket's decline from its initial level if it declines by more than 20%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Growth securities
|
| Underlying ETFs: | SPDR S&P 500 ETF Trust (70% weight), iShares Russell 1000 Value index fund (15% weight) and iShares Russell 2000 Growth index fund (15% weight)
|
| Amount: | $5.1 million
|
| Maturity: | Sept. 1, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any gain in basket, up to maximum return of 90%; par if basket falls by up to 20%; full exposure to basket's decline from initial level if it declines by more than 20%
|
| Initial share prices: | $141.51 for SPDR S&P 500 ETF Trust; $70.53 for iShares Russell 1000 Value; $93.61 for iShares Russell 2000 Growth
|
| Pricing date: | Aug. 29
|
| Settlement date: | Sept. 4
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 2.9%
|
| Cusip: | 94986RLG4
|
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