Published on 7/8/2013 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $24.17 million access securities linked to basket of indexes, ETFs
By Toni Weeks
San Luis Obispo, Calif., July 8 - Wells Fargo & Co. priced $24.17 million of 0% access securities with upside participation and fixed percentage buffered downside due July 10, 2017 linked to a basket of equity indexes and exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 70% weight, the iShares MSCI EAFE index fund with a 15% weight, the S&P MidCap 400 index with an 8% weight, the iShares MSCI Emerging Markets index fund with a 4% weight and the Russell 2000 index with a 3% weight.
If the basket return is positive, the payout at maturity will be par plus 113.5% of the basket return.
Investors will receive par if the basket declines by up to 15% and will be exposed to any losses beyond the 15% buffer.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Access securities with upside participation and fixed percentage buffered downside
|
| Underlying components: | S&P 500 (70% weight), iShares MSCI EAFE index fund (15% weight), S&P MidCap 400 index (8% weight), iShares MSCI Emerging Markets index fund (4% weight) and Russell 2000 index (3% weight)
|
| Amount: | $24,172,000
|
| Maturity: | July 10, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 113.5% of basket return; if basket falls by up to 15%, par; 1% loss for every 1% drop beyond 15%
|
| Initial levels: | 1,615.41 for S&P 500, $57.57 for iShares MSCI EAFE, 1,171.34 for S&P MidCap 400, $37.58 for iShares EM and 991.13 for Russell
|
| Pricing date: | July 3
|
| Settlement date: | July 9
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | None
|
| Cusip: | 94986RQG9
|
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