Wells Fargo plans enhanced participation notes tied to S&P MidCap 400

By Angela McDaniels

Tacoma, Wash., July 7 - Wells Fargo & Co. plans to price 0% enhanced participation securities with partial principal protection due August 2011 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, subject to a maximum return of 28% to 32% that will be set at pricing. Investors will receive par if the index declines by 15% or less and will be exposed to any decline beyond 15%.

Wells Fargo Securities, LLC is the underwriter.

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