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Wells Fargo plans leveraged buffered notes linked to iShares MSCI EAFE
By Angela McDaniels
Tacoma, Wash., Aug. 12 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Aug. 31, 2018 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 150% of the ETF return, subject to a maximum return of 14%.
Investors will receive par if the final share price is less than or equal to the initial share price but greater than or equal to the threshold level, which is expected to be 76% to 80% of the initial share price and will be set at pricing.
If the final ETF level is less than the threshold level, investors will lose 1% for every 1% that the final share price is below the threshold level.
Wells Fargo Securities, LLC is the agent.
The notes will price Aug. 26.
The Cusip number is 94986RT84.
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