Published on 7/1/2013 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $1.59 million notes linked to ETF basket with averaging feature
By Angela McDaniels
Tacoma, Wash., July 1 - Wells Fargo & Co. priced $1.59 million of 0% upside participation ETF-linked notes due July 8, 2020 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the SPDR S&P 500 ETF Trust with a 65% weight, the iShares MSCI EAFE index fund with a 25% weight and the iShares MSCI Emerging Markets index fund with a 10% weight.
If the basket return is positive, the payout at maturity will be par plus 127% of the basket return. If the basket declines or is flat, the payout will be par. The final basket level will be the average of the basket's closing levels on the last trading day of each March, June, September and December from September 2013 through June 2020.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Upside participation ETF-linked notes
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Underlying ETFs: SPDR S&P 500 ETF Trust (65% weight), iShares MSCI EAFE index fund (25% weight) and iShares MSCI Emerging Markets Index Fund (10% weight)
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Amount: | $1,594,000
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Maturity: | July 8, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 127% of basket return; if basket declines or is flat, par
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Initial share prices: | $161.13 for SPDR S&P 500; $57.41 for iShares MSCI EAFE; $38.28 for iShares MSCI Emerging Markets
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Final basket level: | Average of basket's closing levels on last trading day of each March, June, September and December from September 2013 through June 2020
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Pricing date: | June 27
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Settlement date: | July 2
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.5%
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Cusip: | 94986RQA2
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