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Wells Fargo to price 0% access securities linked to S&P 500 index
By Toni Weeks
San Luis Obispo, Calif., April 2 - Wells Fargo & Co. plans to price 0% access securities with upside participation and buffered downside with multiplier due April 30, 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, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by up to 25% and will lose 1.3333% for every 1% decline beyond the 25% buffer.
The notes (Cusip: 94986RTQ4) are expected to price April 25 and settle April 30.
Wells Fargo Securities, LLC is the agent.
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