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Wells Fargo to price enhanced growth securities linked to S&P 500
By Jennifer Chiou
New York, Sept. 7 - Wells Fargo & Co. plans to price 0% enhanced growth securities due October 2011 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 two times any index gain, up to a maximum return of 10% to 12%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
The securities (Cusip: 94986RAU5) are slated to settle in September.
Wells Fargo Securities, LLC is the agent.
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