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Wells Fargo plans to price participation notes linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., Aug. 7 - Wells Fargo & Co. plans to price 0% participation securities with contingent principal protection due September 2013 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 105% to 120% of any index gain, with the exact participation rate to be set at pricing. Investors will receive par if the index declines by 40% or less and will receive par plus the index return if it declines by more than 40%.
Wells Fargo Securities, LLC is the underwriter.
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