Published on 8/4/2009 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $3.13 million enhanced participation securities linked to S&P MidCap 400
By Angela McDaniels
Tacoma, Wash., Aug. 4 - Wells Fargo & Co. priced $3.13 million of 0% enhanced participation securities with partial protection due Aug. 8, 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%. 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.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Enhanced participation securities with partial protection
|
| Underlying index: | S&P MidCap 400 index
|
| Amount: | $3,129,000
|
| Maturity: | Aug. 8, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any index gain, up to maximum return of 28%; par if index falls by 15% or less; 1% loss for every 1% decline beyond 15%
|
| Initial index level: | 628.05
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 7
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 1.5%
|
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