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Wells Fargo plans buffered enhanced return notes on iShares MSCI EM
By Marisa Wong
Madison, Wis., Feb. 21 - Wells Fargo & Co. plans to price 0% buffered enhanced return securities with upside participation to a cap and buffered downside with multiplier linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 with the Securities and Exchange Commission.
The notes will mature about 18 to 21 months after pricing.
The payout at maturity will be par plus 1.5 times any gain in the fund share price, up to a maximum payment of $1,150 to $1,174 per $1,000 principal amount. The exact cap will be set at pricing.
Investors will receive par if the fund falls by up to 12.5% and will lose 1.1429% for each 1% decline beyond 12.5%.
The securities (Cusip: 94986RNN7) will price in February and settle in March.
Wells Fargo Securities, LLC is the agent.
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