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Wells Fargo plans 1.5-year enhanced growth notes linked to S&P 500
By Susanna Moon
Chicago, July 21 - Wells Fargo & Co. plans to price 0% enhanced growth securities due January 2013 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 1.01 times to 1.5 times any index gain, up to a maximum return of 14% to 16%. The exact participation rate and cap will be set at pricing.
Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.
Wells Fargo Securities, LLC is the underwriter.
The notes will price and settle in July.
The Cusip number is 94986REU1.
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