By Jennifer Chiou
New York, Feb. 25 - Wells Fargo & Co. priced $12.16 million of 0.125% exchangeable notes due March 2, 2016 linked to the common stocks of Danaher Corp. with a 35% weight, Textron Inc. with a 35% weight and Ingersoll-Rand plc with a 30% weight via Wells Fargo Securities, LLC, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable semiannually.
The notes priced at 110 for proceeds of $13,370,500.
Beginning March 2, 2014, Wells Fargo may call the notes, paying cash in an amount equal to the greater of par and the basket value, which will be determined on the trading day prior to the redemption notice date.
Holders will have the right to exchange their securities at anytime for a number of shares of each basket stock equal to its exchange ratio beginning on March 12, 2011. If notes are exchanged, the issuer may deliver either shares or the cash value of the shares.
The payout at maturity will be par plus accrued interest.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Exchangeable notes
|
| Underlying stocks: | Danaher Corp. (35% weight; NYSE: DHR), Textron Inc. (35% weight; NYSE: TXT) and Ingersoll-Rand plc (30% weight; NYSE: IR)
|
| Amount: | $12,155,000
|
| Maturity: | March 2, 2016
|
| Coupon: | 0.125%, payable semiannually
|
| Price: | 110
|
| Payout at maturity: | Par plus accrued interest
|
| Call: | Beginning March 2, 2014 for cash in an amount equal to the greater of par and the basket value, determined on the trading day prior to the redemption notice date; holders may exchange securities at anytime for a number of shares of each basket stock equal to its exchange ratio beginning on March 12, 2011
|
| Exchange ratios: | 6.4764 for Danaher, 11.7591 for Textron and 6.0862 for Ingersoll-Rand
|
| Pricing date: | Feb. 23
|
| Settlement date: | March 2
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.15%
|
| Cusip: | 94986RCZ2
|
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