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Wells Fargo plans buffered enhanced return notes linked to S&P 500
By Tali Rackner
Norfolk, Va., Aug. 23 – Wells Fargo & Co. plans to price 24- to 27-month 0% 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 payout at maturity will be par plus 1.2 times any index gain, up to a maximum settlement amount of $1,195.48 to $1,229.80 for each $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
The Cusip number is 94986RU41.
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