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Wells Fargo plans to price enhanced return notes tied to S&P 500
By Sarah Lizee
Olympia, Wash., June 6 – Wells Fargo Finance LLC plans to price 0% enhanced return securities with capped upside and one-to-one downside exposure due in 20 to 23 months linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Wells Fargo & Co.
The payout at maturity will be par plus 3 times any index gain, up to a maximum settlement amount of $1,243.60 to $1,285.60 for each $1,000 principal amount.
Investors will lose 1% for each 1% decline.
Wells Fargo Securities, LLC is the agent.
The Cusip number is 95001H5W7.
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