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Wells Fargo plans buffered enhanced return notes on S&P 500 with cap
By Devika Patel
Knoxville, Tenn., March 30 – Wells Fargo & Co. plans to price 0% 18- to 21-month buffered enhanced return securities with capped upside and buffered downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The exact maturity will be set at pricing.
If the final index level is greater than the initial index level, the payout at maturity will be par of $1,000 plus triple the index return, subject to a maximum settlement amount of $1,141 to $1,165 per $1,000 of notes. The exact cap will be set at pricing.
Investors will receive par if the index declines by 5% or less and will lose 1.0526% for every 1% decline beyond 5%.
Wells Fargo Securities LLC is the agent.
The notes (Cusip: 94986RJ44) will price and settle in April.
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