Published on 8/2/2011 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $1.99 million enhanced growth notes linked to S&P 500
By Susanna Moon
Chicago, Aug. 2 - Wells Fargo & Co. priced $1.99 million of 0% enhanced growth securities due Feb. 6, 2015 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 1.5 times any gain in the index, up to a maximum return of 36%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
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 index
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Amount: | $1,992,000
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Maturity: | Feb. 6, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at 36%; par if index falls by up to 10%; 1% loss per 1% decline beyond 10%
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Initial level: | 1,292.28
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Threshold Level: | 1,163.05, or 90% of initial level
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Pricing date: | July 29
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Settlement date: | Aug. 5
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.25%
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Cusip: | 94986REJ6
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