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Wells Fargo plans 0% market-linked notes due 2020 tied to S&P 500
By Tali Rackner
Norfolk, Va., Nov. 4 – Wells Fargo & Co. plans to price 0% market-linked upside participation and contingent downside securities due Nov. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $1,000 plus 102.5% to 112.5% of the index return. The exact participation rate will be set at pricing.
Investors will receive par if the index declines by 40% or less and will be fully exposed to its loss if the index declines beyond 40%.
Wells Fargo Securities, LLC is the agent.
The notes are set to price on Nov. 24 and settle on Nov. 30.
The Cusip number is 94986RZX2.
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