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Wells Fargo to price enhanced participation securities linked to Financial Select Sector SPDR
By Jennifer Chiou
New York, Feb. 6 - Wells Fargo & Co. plans to price 0% enhanced participation securities with partial principal protection due March 2011 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the lesser of double any fund return and the capped return amount that is to be between 50% and 60%.
Investors will receive par for losses up to 15% and will share in losses beyond 15%.
Wells Fargo Securities, LLC will be the underwriter.
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