Wells Fargo issues correlation structures and keeps up with longer tenors

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Wells Fargo offers multi-index products

Wells Fargo has joined in with the trend for longer structured product tenors in the US, registering a six-and-a-half-year principal-protected note based on the Dow Jones Industrial Average on March 8. The growth product was one of 88 new structured products that passed through the Securities and Exchange Commission on the same day, marking another bumper rush of new issuance. A London-based banker who heads structured products for one of the regular providers said that while volumes were goo