Published on 9/10/2010 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $2 million three-year enhanced growth notes linked to S&P 500
By Susanna Moon
Chicago, Sept. 10 - Wells Fargo & Co. priced $2 million of 0% enhanced growth securities due Sept. 16, 2013 based on the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, up to a maximum return of $1,220 per $1,000 principal amount.
Investors will receive par for losses up to 30% and will share in the losses beyond 30%.
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
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Amount: | $2 million
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Maturity: | Sept. 16, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any index gain, capped at 22%; exposure to losses beyond 30%
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Initial index level: | 1,098.87
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Threshold level: | 769.21, or 70% of initial level
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Pricing date: | Sept. 8
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Settlement date: | Sept. 15
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Agent: | Wells Fargo Securities, LLC
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Fees: | 0.1%
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Cusip: | 94986RAV3
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