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Wells Fargo to price leveraged buffered notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., May 23 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation to a cap and buffered downside with multiplier due Aug. 5, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum return that is expected to be 27% to 29% and will be set at pricing.
Investors will receive par if the final index level is less than or equal to the initial index level but greater than or equal to the threshold level, 65% of the initial index level.
If the final index level is less than the threshold level, investors will lose 1.5385% for every 1% that the final index level is below the threshold level.
Wells Fargo Securities LLC is the agent.
The notes will price May 27.
The Cusip number is 94986RN49.
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