Published on 9/2/2010 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $9.75 million enhanced growth securities on Russell 2000
By Jennifer Chiou
New York, Sept. 2 - Wells Fargo & Co. priced $9.75 million of 0% enhanced growth securities due Sept. 10, 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 35%. Investors will receive par for losses up to 10% and will share in losses beyond 10%.
Wells Fargo Securities, LLC is the underwriter.
Issuer: | Wells Fargo & Co.
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Issue: | Enhanced growth securities
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Underlying index: | Russell 2000
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Amount: | $9.75 million
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Maturity: | Sept. 10, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, up to maximum return of 35%; investors will receive par for losses up to 10% and will share in losses beyond 10%.
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Initial index level: | 602.06
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Threshold level: | 541.85, 90% of initial level
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Pricing date: | Aug. 31
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Settlement date: | Sept. 8
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Underwriter: | Wells Fargo Securities, LLC
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Fees: | 2%
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Cusip: | 94986RAL5
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