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Wells Fargo to price buffered enhanced return notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 7 – Wells Fargo & Co. plans to price 24- to 27-month 0% buffered enhanced return securities with capped upside and buffered downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s final level is greater than the initial level, the payout at maturity will be par plus 150% of the index return, subject to a maximum settlement amount that is expected to be $1,183.75 to $1,216.00 per $1,000 principal amount of notes and will be set a pricing. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
Wells Fargo Securities LLC is the agent.
The Cusip number is 94986RY39.
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