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Wells Fargo plans to price market-linked securities linked to S&P 500
By Sarah Lizee
Olympia, Wash., Sept. 18 – Wells Fargo & Co. plans to price 0% market-linked securities with upside participation to a cap and fixed percentage buffered downside due Sept. 24, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, capped at par plus 21%.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
The notes (Cusip: 95001B7H1) will price Sept. 21 and settle Sept. 26.
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