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Wells Fargo to price access securities linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., June 2 - Wells Fargo & Co. plans to price 0% access securities due July 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus a fixed payment of 9% to 12% that will be set at pricing.
Investors will receive par if the index declines by 17% or less.
If the index declines by more than 17%, investors will be exposed to the decline from the initial level.
The notes (Cusip: 94986RED9) are expected to price and settle in June.
Wells Fargo Securities LLC is the agent.
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