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Wells Fargo plans buffered enhanced return notes tied to S&P 500
By Marisa Wong
Madison, Wis., March 12 – Wells Fargo & Co. plans to price 0% buffered enhanced return securities with capped upside and buffered downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature 25 to 28 months after issuance.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 140% of the index return, subject to a maximum settlement amount of $1,201.60 to $1,235.20 per $1,000 principal amount of notes.
Investors will receive par if the index declines by 15% or less and will lose 1.1765% for every 1% that it declines beyond 15%.
Wells Fargo Securities LLC is the agent.
The notes will price and settle in March.
The Cusip number is 94986RWG2.
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