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Wells Fargo plans buffered enhanced return notes with cap on MSCI EAFE
By Devika Patel
Knoxville, Tenn., Feb. 22 – Wells Fargo & Co. plans to price 0% buffered enhanced return securities with capped upside participation linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature 18 to 21 months after issuance. The exact maturity will be set at pricing.
If the final index level is greater than the initial index level, the payout at maturity will be par of $1,000 plus 1.4 times the index return, subject to a maximum settlement amount of $1,246.40 to $1,288.40 per $1,000 of notes. The exact cap will be set at pricing.
Investors will receive par if the index declines by 12.5% or less and will lose 1.1429% for every 1% that it declines beyond 12.5%.
Wells Fargo Securities, LLC is the agent.
The notes (Cusip: 94986RF48) will price in February and settle five days later in March.
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