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Wells Fargo to price market-linked notes linked to Russell 2000 index
By Devika Patel
Knoxville, Tenn., June 27 – Wells Fargo & Co. plans to price market-linked securities – with contingent fixed return and contingent downside – due July 5, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the contingent fixed return, which is expected to be 36% to 40% and will be set at pricing, if the index finishes above its initial level. If the index falls but finishes above the threshold level, 60% of the initial level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline from the initial level.
Wells Fargo Securities LLC is the agent.
The notes (Cusip: 94986R6N6) will price June 29 and settle July 5.
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