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Wells Fargo plans buffered enhanced return notes on iShares MSCI EM
By Susanna Moon
Chicago, Aug. 14 – 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 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature between 23 and 26 months after issue.
The payout at maturity will be par plus 1.4 times any gain in the fund, up to a maximum settlement amount of $1,250.60 to $1,292.60 per $1,000 principal amount of notes.
Investors will receive par if the fund falls by up to 15% and will lose 1.1765% for each 1% decline beyond 15%.
The exact deal terms will be set at pricing.
Wells Fargo Securities, LLC is the agent.
The notes will price and settle in August.
The Cusip number is 94986RYM7.
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