By Jennifer Chiou
New York, Oct. 29 - Wells Fargo & Co. priced $13.5 million of 0% enhanced participation securities with buffered downside due April 29, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any gain in the index, capped at 16.6%.
Investors will receive par if the index falls by up to 20% and will be exposed to losses beyond 20% at a rate of 1.25% per 1% drop.
Wells Fargo Securities, LLC is the underwriter.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Enhanced participation securities with buffered downside
|
| Underlying index: | S&P 500
|
| Amount: | $13.5 million
|
| Maturity: | April 29, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any index gain, capped at 16.6%; par if index falls by up to 20% and exposure to losses beyond 20% at a rate of 1.25% per 1% drop
|
| Initial level: | 1,063.41
|
| Pricing date: | Oct. 27
|
| Settlement date: | Nov. 3
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 0.25%
|
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