By Jennifer Chiou
New York, July 3 - Wells Fargo & Co. priced a $3.207 million offering of 0% participation securities with partial principal protection due July 9, 2012 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any basket gain multiplied by the 101% participation rate. Investors will receive par if the basket falls by 20% or less and will lose 1% for each 1% decline beyond 20%.
Wells Fargo Securities, LLC is the underwriter.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Participation securities with partial principal protection
|
| Underlying fund: | iShares MSCI Emerging Markets index fund
|
| Amount: | $3.207 million
|
| Maturity: | July 9, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 101% of any fund gain; par if basket falls by 20% or less; 1% loss for each 1% basket decline beyond 20%
|
| Initial fund level: | $131.65
|
| Pricing date: | June 29
|
| Settlement date: | July 9
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 3.5%
|
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