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Wells Fargo plans three-year market-tied autocalls on iShares MSCI EM
By Susanna Moon
Chicago, Sept.25 – Wells Fargo & Co. plans to price 0% market linked securities – autocallable with contingent downside due Oct. 4, 2021 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 10.5% to 11% if the underlying fund closes at or above its initial level on any annual call date. The exact call premium will be set at pricing.
If the notes are not called, the payout at maturity will be par unless the fund finishes below its 80% threshold, in which case investors will be fully exposed to any losses.
Wells Fargo Securities, LLC is the agent.
The notes will price on Sept. 27.
The Cusip number is 95001B7J7.
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