Wells Fargo plans 3.5-year growth notes with 35%-45% cap on S&P 500

By Susanna Moon

Chicago, Feb. 3 - Wells Fargo & Co. plans to price 0% growth securities with capped upside and fixed percentage buffered downside due September 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 35% to 45%. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 15% and will be exposed to losses beyond 15%.

Wells Fargo Securities, LLC is the agent.

The notes will settle in March.

The Cusip number is 94986RHJ3.

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