By Jennifer Chiou
New York, March 21 - Wells Fargo & Co. priced $17,617,000 of 3.25% access securities due Sept. 22, 2015 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 42% weight, the SPDR S&P MidCap 400 ETF Trust with a 22% weight, the iShares MSCI Emerging Markets index fund with a 21% weight and the iShares Russell 2000 index fund with a 15% weight.
Interest will be payable semiannually.
If the final basket level is greater than or equal to the initial level, the payout at maturity will be par plus the basket return, subject to a maximum return of 26%.
Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Access securities
|
| Underlying ETFs: | iShares MSCI EAFE index fund (42% weight), SPDR S&P MidCap 400 ETF Trust (22% weight), iShares MSCI Emerging Markets index fund (21% weight) and iShares Russell 2000 index fund (15% weight)
|
| Amount: | $17,617,000
|
| Maturity: | Sept. 22, 2015
|
| Coupon: | 3.25%, payable semiannually
|
| Price: | Par
|
| Payout at maturity: | If final basket level is at or above initial level, par plus gain, capped at 26%; par if basket falls by up to 10%; exposure to decline beyond threshold
|
| Pricing date: | March 19
|
| Settlement date: | March 22
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.124% for structuring and development costs included in offering price
|
| Cusip: | 94986RHS3
|
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