Published on 9/14/2012 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $1 million buffered access securities linked to Nikkei 225 index
By Toni Weeks
San Diego, Sept. 14 - Wells Fargo & Co. priced $1 million of 0% access securities with upside participation to a cap and fixed percentage buffered downside due March 17, 2016 linked to the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum return of 42%.
Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond the 20% buffer.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Access securities with upside participation to a cap and fixed percentage buffered downside
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Underlying index: | Nikkei 225
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Amount: | $1 million
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Maturity: | March 17, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus index return, subject to maximum return of 42%; if index falls by up to 20%, par; exposure to losses beyond 20% buffer
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Initial level: | 8,959.96
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Threshold level: | 7,167.97, 80% of initial level
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Pricing date: | Sept. 12
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Settlement date: | Sept. 17
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Agent: | Wells Fargo Securities, LLC
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Fees: | None
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Cusip: | 94986RLL3
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