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Wells Fargo plans leveraged buffered notes with cap tied to S&P 500
By Susanna Moon
Chicago, Jan. 22 – Wells Fargo & Co. plans to price 0% equity-linked securities with leveraged upside participation to a cap and buffered downside with multiplier due January 2020 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 125% of any index gain, up to a cap to be set at pricing.
If the index falls by up to 17.5%, the payout will be par.
If the index finishes below its 82.5% threshold, investors will lose 1.2121% for each 1% decline beyond 17.5%.
Wells Fargo Securities is the agent.
The notes will price and settle in January.
The Cusip number is 95000E5K1.
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