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Wells Fargo to price leveraged market-linked notes tied to S&P 500
By Sarah Lizee
Olympia, Wash., April 8 – Wells Fargo Finance LLC plans to price 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Oct. 28, 2021 linked to the Russell 2000 index and the S&P 500 index, 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 200% of any gain in the lesser performing index, capped at par plus 25% to 30%.
If the lesser performing index falls but not beyond 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline in the lesser performing index beyond the buffer.
Wells Fargo Securities, LLC is the agent.
The notes will price on April 25.
The Cusip number is 95001H4N8.
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