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Wells Fargo plans buffered enhanced return notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., Sept. 17 – Wells Fargo Finance LLC plans to price 0% buffered enhanced return securities with capped upside and buffered downside due in 26 to 29 months linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Wells Fargo & Co.
The payout at maturity will be par plus 1.7 times any index gain, up to a maximum settlement amount of $1,226.44 to $1,265.54 for each $1,000 principal amount.
Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
The Cusip number is 95001HAM3.
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