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Wells Fargo plans contingent return buffered notes tied to S&P 500
By Susanna Moon
Chicago, Sept. 14 – Wells Fargo & Co. plans to price 0% market-linked notes with contingent fixed return and fixed buffered downside due Sept. 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 85% threshold level, the payout at maturity will be par plus a contingent fixed return of 20% to 24%.
Otherwise, investors will lose 1% for each 1% decline beyond 15%.
Wells Fargo Securities LLC is the agent.
The notes will price on Sept. 25.
The Cusip number is 95001B6N9.
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