By Jennifer Chiou
New York, Aug. 2 - Wells Fargo & Co. priced $3,033,000 of 0% growth securities with leveraged upside participation to a cap and fixed percentage buffered downside due May 6, 2016 linked to the Vanguard REIT exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI US REIT index, which is a free float-adjusted market capitalization index that aims to represent the performance of the equity real estate investment trust investment universe in the United States.
The payout at maturity will be par plus two times any gain in the fund, up to a maximum return of 41%.
Investors will receive par if the shares fall by up to 15% and will be exposed to losses beyond the 15% buffer.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Growth securities with leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying fund: | Vanguard REIT exchange-traded fund
|
| Amount: | $3,033,000
|
| Maturity: | May 6, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any fund gain, capped at 41%; par if fund falls by up to 15%; exposure to losses beyond 15%
|
| Initial level: | $56.73
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 7
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 2%
|
| Cusip: | 94986RKR1
|
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