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Wells Fargo plans to price access securities linked to Russell 2000
By Toni Weeks
San Diego, Nov. 23 - Wells Fargo & Co. plans to price 0% access securities due December 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is at least 80% of the initial level, the payout at maturity will be par plus a contingent fixed payment of 7.6%.
If the final index level is below 80% of the initial level, investors will be exposed to losses beyond the 20% buffer and will receive a downside payment of 7.6%. Therefore, if the index closes down by more than 27.6%, investors may lose up to 72.4% of their principal.
The notes (Cusip: 94986RGM7) are expected to price in November and settle in December.
Wells Fargo Securities, LLC is the agent.
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