By Angela McDaniels
Tacoma, Wash., Aug. 4 - Wells Fargo & Co. priced $6.1 million of 0% participation securities with contingent principal protection due Aug. 7, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.15 times the gain.
If the index return is between zero and negative 50%, the payout will be par.
If the index return is less than negative 50%, the payout will be par plus the return.
Wells Fargo Securities, LLC is the underwriter.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Participation securities with contingent principal protection
|
| Underlying index: | S&P 500 index
|
| Amount: | $6,097,000
|
| Maturity: | Aug. 7, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.15 times any index gain; par if index falls by 50% or less; full exposure to decline if index falls by more than 50%
|
| Initial index level: | 987.48
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 7
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 3%
|
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