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Wells Fargo plans capped, buffered market-linked notes due 2018 on S&P
By Susanna Moon
Chicago, Aug. 4 – Wells Fargo & Co. plans to price 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due March 1, 2018 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 16% to 20%.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond 10%.
Wells Fargo Securities, LLC is the agent.
The notes will price on Aug. 26 and settle on Aug. 31.
The Cusip number is 94986RYG0.
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