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Wells Fargo to price market-linked securities tied to MSCI EAFE ETF
By Emma Trincal
New York, Nov. 15 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Dec. 2, 2020 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of the ETF return capped at par plus 20%.
Investors will receive par if the ETF falls by up to the buffer amount and will lose 1% for every 1% that the ETF declines beyond the buffer. The buffer amount will be at least 20% and will be set at pricing.
Wells Fargo Securities, LLC is the agent.
The notes (Cusip: 95001BAZ7) will price on Nov. 27 and settle on Nov. 30.
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