NU Online News Service, June 7, 2004, 6:21 p.m. EDT – Wells Fargo & Company, San Francisco, is issuing notes aimed at investors who think commodity prices might continue to go up.[@@]
The financial services company filed a form with the U.S. Securities and Exchange Commission that states that it has issued $20.34 million in Wells Fargo Headline Commodity Index notes.
The notes, which are due June 5, 2006, will not pay traditional interest, but they will pay a “maturity payment amount” tied to prices for crude oil, gas oil, copper, gold and silver, according to the note form filed with the SEC.
If a “market disruption event” disrupts trading in one of the 5 commodities, the notes will mature early, according to the note form.