Wells Fargo to price enhanced notes linked to basket of commodities

By Toni Weeks

San Diego, May 5 - Wells Fargo & Co. plans to price 0% enhanced growth securities with upside participation and fixed percentage buffered downside due August 2012 linked to a basket of commodities, according to a 424B2 filing with the Securities and Exchange Commission.

The equally weighted basket components are crude oil, platinum, copper, corn and cotton.

The payout at maturity will be par plus double any gain in the basket, subject to a maximum return of 16% to 21%. The exact participation rate will be set at pricing.

Investors will receive par if the index declines by 10% or less and will share in any losses beyond that buffer.

The notes (Cusip: 94986RDS7) are expected to settle in June.

Wells Fargo Securities, LLC is the agent.

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