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Wells Fargo plans enhanced growth securities linked to S&P 500 index
By Jennifer Chiou
New York, July 8 - Wells Fargo & Co. plans to price 0% enhanced growth securities due August 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 1.25 times any index gain, up to a maximum return of 32% to 36%. The exact cap will be set at pricing.
Investors will receive par for losses up to 15% and will share in any losses beyond 15%.
The securities are expected to price and settle in August.
Wells Fargo Securities, LLC is the agent.
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