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Wells Fargo plans leveraged capped growth securities linked to S&P 500
By Toni Weeks
San Diego, Aug. 28 - Wells Fargo & Co. plans to price growth securities with leveraged capped upside and contingent downside protection due September 2014 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 19% to 22%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 20% and will be fully exposed to losses from the initial level if the index declines by more than 20%.
Wells Fargo Securities, LLC is the agent.
The Cusip number is 94986RLF6.
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