By Laura Lutz
Des Moines, March 4 - Wells Fargo & Co. priced $12.44 million of 0% enhanced participation securities with partial principal protection due March 7, 2011 linked to shares of the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is at least the initial level, the payout will be par plus 200% of any gain in the shares, capped at a maximum payout equal to 105.8% of par.
If the index declines by up to 15%, the payout will be par. Investors will lose 1% for each 1% that the shares decline beyond 15%.
Wells Fargo Securities, LLC is the underwriter.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Enhanced participation securities with partial principal protection
|
| Underlying shares: | Financial Select Sector SPDR Fund
|
| Amount: | $12,437,000
|
| Maturity: | March 7, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any gain in shares, capped at payout of 105.8% of par; par if index declines by up to 15%; investors lose 1% for each 1% decline beyond 15%
|
| Initial level: | 25.83
|
| Pricing date: | Feb. 29
|
| Settlement date: | March 7
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 2.5%
|
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