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Wells Fargo plans enhanced growth securities linked to Russell 2000
By Marisa Wong
Milwaukee, April 9 - Wells Fargo & Co. plans to price 0% enhanced growth securities with buffered downside due August 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any index gain, subject to a maximum return of 27% to 30%. The exact cap will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
Wells Fargo Securities, LLC is the underwriter.
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