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Wells Fargo plans market-linked notes with 48%-53% cap tied to funds
By Susanna Moon
Chicago, Dec. 27 – Wells Fargo & Co. plans to price market-linked securities due Jan. 4, 2022 – leveraged upside participation to a cap and fixed percentage buffered downside linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 ETF Trust with a 50% weight, the iShares Russell 2000 ETF with a 15% weight, the iShares MSCI EAFE ETF with a 15% weight, the iShares MSCI Emerging Markets ETF with a 10% weight, the PowerShares DB Commodity Index Tracking Fund with a 5% weight and the Vanguard REIT ETF with a 5% weight.
The payout at maturity will be par plus 150% of any basket gain, up to a maximum return of 48% to 53%.
Investors will receive par if the basket falls by up to 15% and will be exposed to any losses beyond 15%.
Wells Fargo Securities LLC is the agent.
The notes will price on Dec. 29 and settle on Jan. 4.
The Cusip number is 94986R3D1.
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