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Wells Fargo plans leveraged notes with contingent downside on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation and contingent downside due Feb. 8, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 110% to 120% of the gain. Investors will receive par if the index decreases by up to 30% and will be fully exposed to the decline if the index falls beyond 30%.
Wells Fargo Securities LLC is the agent.
The notes will price Jan. 31.
The Cusip number is 94986R3G4.
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