By Toni Weeks
San Diego, Sept. 5 - Wells Fargo & Co. priced $5.59 million of growth securities with leveraged capped upside and contingent downside protection due March 6, 2015 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 50% weight, the SPDR S&P MidCap 400 ETF 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 25%.
Investors will receive par if the basket falls by up to 10% and will be exposed to losses beyond the 10% buffer.
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 ETFs: SPDR S&P 500 ETF Trust (50% weight), SPDR S&P MidCap 400 ETF (25% weight) and iShares Russell 2000 index fund (25% weight)
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Amount: | $5,589,000
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Maturity: | March 6, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any gain in basket, up to maximum return of 25%; par if basket falls by up to 10%; exposure to any losses beyond 10% buffer
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Initial share prices: | $141.24 for SPDR S&P 500 ETF Trust, $177.33 for SPDR S&P MidCap 400 ETF and $81.19 for iShares Russell 2000 index fund
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Buffer level: | 90%
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Pricing date: | Aug. 31
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Settlement date: | Sept. 10
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.75%
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Cusip: | 94986RKZ3
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