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Wells Fargo to price market-linked notes linked to S&P 500 index
By Sarah Lizee
Olympia, Wash., Oct. 9 – Wells Fargo & Co. plans to price 0% market-linked securities with contingent fixed return and contingent downside due Nov. 8, 2021 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 initial level, the payout at maturity will be par plus a fixed return of 21% to 25%. The exact fixed return will be set at pricing.
If the index falls by up to 25%, the payout will be par.
If the index falls beyond 25%, investors will be fully exposed to the decline.
Wells Fargo Securities, LLC is the agent.
The notes (Cusip: 95001B7M0) will price on Oct. 30 and settle on Nov. 6.
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