Published on 9/29/2010 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $601,000 enhanced growth securities tied to S&P 500
By Susanna Moon
Chicago, Sept. 29 - Wells Fargo & Co. priced $601,000 of 0% enhanced growth securities due April 9, 2012 based on the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of $1,220 per $1,000 principal amount.
Investors will be exposed to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Enhanced growth securities
|
| Underlying index: | S&P 500
|
| Amount: | $601,000
|
| Maturity: | April 9, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, capped at 22%; exposure to any losses
|
| Initial index level: | 1,142.16
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 1
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 1.5%
|
| Cusip: | 94986RAZ4
|
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