Published on 9/4/2013 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $908,000 notes linked to ETF basket with averaging feature
By Angela McDaniels
Tacoma, Wash., Sept. 4 - Wells Fargo & Co. priced $908,000 of 0% upside participation ETF-linked notes due Sept. 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 iShares MSCI EAFE index fund with a 50% weight and the iShares MSCI Emerging Markets index fund with a 50% weight.
If the basket return is positive, the payout at maturity will be par plus 102% 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 February, May, August and November from November 2013 through August 2020.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
|
Issue: | Upside participation ETF-linked notes
|
Underlying ETFs: | iShares MSCI EAFE index fund (50% weight) and iShares MSCI Emerging Markets index fund (50% weight)
|
Amount: | $908,000
|
Maturity: | Sept. 8, 2020
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If basket return is positive, par plus 102% of basket return; if basket declines or is flat, par
|
Initial share prices: | $59.17 for iShares MSCI EAFE and $38.04 for iShares MSCI Emerging Markets
|
Final basket level: | Average of basket's closing levels on last trading day of each February, May, August and November from November 2013 through August 2020
|
Pricing date: | Aug. 30
|
Settlement date: | Sept. 9
|
Agent: | Wells Fargo Securities LLC
|
Fees: | 1.5%
|
Cusip: | 94986RQZ7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.