Wells Fargo to price enhanced participation securities linked to S&P 500

By Jennifer Chiou

New York, March 5 - Wells Fargo & Co. plans to price 0% enhanced participation securities with partial principal protection due April 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 double any gain in the index, capped at $1,330 to $1,360 per $1,000 note. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 15% and will be exposed to losses beyond 15%.

Wells Fargo Securities, LLC will be the underwriter.

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