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Wells Fargo to price growth securities due 2016 linked to the Dow
By Jennifer Chiou
New York, Oct. 5 - Wells Fargo & Co. plans to price 0% growth securities with upside participation and contingent downside protection due May 2016 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 120% to 140% of any increase in the index. Investors will receive par if the index declines by 40% or less and will be fully exposed to the decline from the initial level if it declines by more than 40%. The exact participation rate will be set at pricing.
The notes (Cusip: 94986RFV8) are expected to settle in November.
Wells Fargo Securities, LLC is the agent.
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