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Wells Fargo plans buffered enhanced return notes on iShares MSCI EM
By Susanna Moon
Chicago, Oct. 21 – 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 19 to 22 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 $1,228.20 to $1,267.40 per $1,000 principal amount of notes.
Investors will receive par if the fund falls by up to 12.5% and will lose 1.1429% for each 1% decline beyond 12.5%.
The exact deal terms will be set at pricing.
Wells Fargo Securities, LLC is the agent.
The notes will price and settle in October.
The Cusip number is 94986RZQ7.
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