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Wells Fargo plans capped growth securities linked to S&P 500 index
By Jennifer Chiou
New York, Sept. 12 - Wells Fargo & Co. plans to price 0% growth securities with capped upside and fixed percentage buffered downside due March 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 1.25 times any index gain, subject to a maximum return of 20% to 22%. The exact maximum return will be set at pricing.
Investors will receive par if the index declines by up to 12% and will be exposed to losses beyond the 12% buffer.
The notes (Cusip: 94986RFU0) are expected to price and settle in September.
Wells Fargo Securities, LLC is the agent.
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