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Wells Fargo plans market-linked notes on iShares iBoxx $ High Yield
By Susanna Moon
Chicago, March 16 – Wells Fargo & Co. plans to price 0% market-linked notes – leveraged upside participation and fixed percentage downside due April 1, 2019 linked to the iShares iBoxx $ High Yield Corporate Bond exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 240% to 260% of any index gain, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond 20%.
Wells Fargo Securities, LLC is the agent.
The notes will price on March 28 and settle on March 31.
The Cusip number is 94986RH79.
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