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Wells Fargo to price access securities linked to S&P 500 index
By Marisa Wong
Madison, Wis., Jan. 9 - Wells Fargo & Co. plans to price access securities with upside participation and buffered downside with multiplier due Jan. 31, 2019 linked to the S&P 500 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 100% to 105% of the gain. The exact participation rate will be set at pricing. Investors will receive par if the index declines by 30% or less and will lose 1.4286% for every 1% that it declines beyond 30%.
The notes (Cusip: 94986RSR3) are expected to price on Jan. 28 and settle on Jan. 31.
Wells Fargo Securities, LLC is the agent.
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