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Wells Fargo to price notes linked to S&P 500 with averaging feature
By Angela McDaniels
Tacoma, Wash., Feb. 4 - Wells Fargo & Co. plans to price 0% upside participation equity-linked notes due March 6, 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 100% to 110% of any index gain, with the exact participation rate to be set at pricing. If the index declines, the payout will be par. The final index level will be the average of the index's closing levels on the last trading day of each February, May, August and November from May 2013 through February 2020.
Wells Fargo Securities LLC is the agent.
The notes are expected to price Feb. 28 and settle March 7.
The Cusip number is 94986RNG2.
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