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Wells Fargo to price 1% growth securities due 2018 linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 2 - Wells Fargo & Co. plans to price 1% growth securities with leveraged upside participation to a cap and fixed percentage buffered downside due March 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable semiannually.
If the index's final level is greater than the initial level, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of 50% to 60% that will be set at pricing. Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
The notes will settle in September.
Wells Fargo Securities LLC is the agent.
The Cusip number is 94986RLB5.
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