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Wells Fargo to price enhanced return notes with cap linked to S&P 500
By Devika Patel
Knoxville, Tenn., Sept. 26 – Wells Fargo & Co. plans to price 0% enhanced return securities with capped upside and one-to-one downside exposure linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature 23 to 26 months after issuance.
If the final index level is greater than the initial index level, the payout at maturity will be par plus triple the index return, subject to a maximum settlement amount of $1,222.60 to $1,261.60 per $1,000 of notes. The exact cap will be set at pricing.
Investors will lose 1% for each 1% decline.
Wells Fargo Securities LLC is the agent.
The Cusip is 94986RX22.
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