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Wells Fargo to price barrier return rebate CDs linked to S&P 500 index
By Marisa Wong
Madison, Wis., Dec. 6 - Wells Fargo Bank, NA plans to price 0% barrier return rebate certificates of deposit due June 29, 2018 linked to the S&P 500 index, according to a term sheet.
If the final index level is greater than the threshold level - 150% to 160% of the initial level - the payout at maturity will be par plus 13%. Otherwise, the payout will be par plus the index return, subject to a floor of par.
The exact threshold level will be set at pricing.
The CDs (Cusip: 949748M46) are expected to price Dec. 22 and settle Dec. 30.
Incapital LLC is the distributor.
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