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Wells Fargo plans buffered enhanced return notes on iShares MSCI Emerging Markets ETF
By Devika Patel
Knoxville, Tenn., June 10 – Wells Fargo & Co. plans to price 0% buffered enhanced return securities with capped upside and buffered downside linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424 filing with the Securities and Exchange Commission.
The notes will mature 18 to 21 months after issue.
The payout at maturity will be par plus 150% of any index gain, up to a maximum settlement amount of $1,231 to $1,270 per $1,000 of notes.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% decline beyond 12.5%.
Wells Fargo Securities LLC is the agent.
The notes will price and settle in June.
The Cusip number is 94986RXN6.
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