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Wells Fargo to price leveraged market-linked notes tied to energy ETF
By Sarah Lizee
Olympia, Wash., Aug. 15 – Wells Fargo Finance LLC plans to price 0% market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due March 9, 2023 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
The payout at maturity will be par plus 150% of any ETF gain, capped at par plus 44% to 49%.
Investors will receive par if the ETF falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
Wells Fargo Securities LLC is the agent.
The notes will price on Aug. 30.
The Cusip number is 95001H7F2.
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