Published on 3/28/2011 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $5.93 million enhanced growth notes tied to S&P 500
By Angela McDaniels
Tacoma, Wash., March 28 - Wells Fargo & Co. priced $5.93 million of 0% enhanced growth securities due April 7, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is at least 60% of the initial index level, the payout at maturity will be par plus 125% of the index return, subject to a minimum return of 18% and a maximum return of 70%.
If the final index level is less than 60% of the initial level, the payout will be par plus 18% minus the index decline.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Enhanced growth securities
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Underlying index: | S&P 500
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Amount: | $5,927,000
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Maturity: | April 7, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 125% of index return if final index level is greater than or equal to threshold level, subject to minimum return of 18% and maximum return of 70%; par plus 18% minus index decline if final index level is less than threshold level
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Initial index level: | 1,309.66
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Threshold level: | 785.8, 60% of initial level
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Pricing date: | March 24
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Settlement date: | March 31
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Agent: | Wells Fargo Securities, LLC
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Fees: | 3%
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Cusip: | 94986RDF5
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