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Wells Fargo plans market-linked autocallables tied to SPDR S&P Oil
By Susanna Moon
Chicago, Aug. 15 – Wells Fargo & Co. plans to price market-linked securities due Sept. 7, 2021 – autocallable with contingent downside linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual premium of 12.75% to 13.75% if the fund closes at or above its initial level on any annual review date after one year.
If the notes are not called, the payout at maturity will be par unless the underlying asset finishes below its 75% downside threshold, in which case the payout will be par plus the return with full exposure to any losses.
Wells Fargo Securities LLC is the agent.
The notes will price on Aug. 30.
The Cusip number is 95001B6B5.
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