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Wells Fargo plans buffered notes tied to iShares MSCI Emerging Markets
By Angela McDaniels
Tacoma, Wash., May 9 - Wells Fargo & Co. plans to price 0% market-linked securities with upside participation to a cap and fixed percentage buffered downside due May 26, 2016 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus the ETF return, subject to a maximum return that is expected to be 16.5% to 18% and will be set at pricing. Investors will receive par if the ETF declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
Wells Fargo Securities LLC is the agent.
The notes will price May 22 and settle May 28.
The Cusip number is 94986RTZ4.
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