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Wells Fargo plans to price CDs with 46%-54% cap linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 6 – Wells Fargo Bank, NA plans to price 0% certificates of deposit due Sept. 30, 2024 linked to the S&P 500 index, according to a term sheet.
The payout at maturity will be par plus the index return, subject to a minimum payout of par and a maximum return that is expected to be 46% to 54% and will be set at pricing.
Incapital LLC is the distributor.
The CDs will price March 24.
The Cusip number is 94986TP35.
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