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Wells Fargo plans digital securities with buffered downside on S&P 500
By Marisa Wong
Los Angeles, July 17 – Wells Fargo Finance LLC plans to price 0% digital securities with buffered downside due in 22 to 25 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.
If the index finishes at or above the 87.5% threshold level, the payout at maturity will be the maximum settlement amount of $1,112.20 to $1,131.60 for each $1,000 principal amount.
Otherwise, investors will lose 1.1429% for each 1% decline beyond 12.5%.
The exact deal terms will be set at pricing.
Wells Fargo Securities, LLC is the agent.
The Cusip number is 95001H6W6.
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