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Wells Fargo plans four-year growth securities tied to commodities
By Marisa Wong
Madison, Wis., Sept. 12 - Wells Fargo & Co. plans to price 0% growth securities due Sept. 18, 2017 linked to a basket of commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket consists of WTI crude oil futures, gasoline futures, corn futures, soybean futures, gold and silver.
The payout at maturity will be par plus 150% of any gain in the basket, subject to a maximum return of 55% to 65%. The exact cap will be set at pricing.
Investors will receive par if the basket falls by up to 20% and will share in losses beyond the buffer.
The notes (Cusip: 94986RRL7) will price on Sept. 13 and settle on Sept. 18.
Wells Fargo Securities, LLC is the agent.
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