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Wells Fargo to price access securities linked to S&P 500 index
By Marisa Wong
Madison, Wis., March 10 - Wells Fargo & Co. plans to price access securities with upside participation and buffered downside with multiplier due March 29, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 100% to 110% of the gain. The exact participation rate will be set at pricing. Investors will receive par if the index declines by 25% or less and will lose 1.3333% for every 1% that it declines beyond 25%.
The notes (Cusip: 94986RTH4) are expected to price on March 27 and settle on March 31.
Wells Fargo Securities, LLC is the agent.
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