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Wells Fargo plans S&P 500-linked notes with contingent fixed return
By Marisa Wong
Madison, Wis., April 16 - Wells Fargo & Co. plans to price 0% equity-linked securities with contingent fixed return and buffered downside with multiplier tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The tenor of the notes is expected to be 25 to 28 months.
If the final index level is greater than or equal to the threshold level, the payout at maturity will be the contingent fixed redemption amount. The threshold level will be 85% of the initial index level, and the contingent fixed redemption amount is expected to be $1,082.00 to $1,096.00 per $1,000 note and will be set at pricing.
If the final index level is less than the threshold level, the payout will be par times the final level divided by the initial level times a multiplier of 1.1765.
Wells Fargo Securities, LLC is the agent.
The notes will price and settle in April.
The Cusip number is 94986RPL.
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