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Wells Fargo plans buffered enhanced return notes linked to S&P 500
By Susanna Moon
Chicago, Feb. 5 – Wells Fargo & Co. plans to price 0% buffered enhanced return securities with capped upside and buffered downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will mature between 18 and 21 months after issue.
The payout at maturity will be par plus 1.5 times any index gain, up to a maximum settlement amount of $1,159 to $1,186 per $1,000 principal amount of notes. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
Wells Fargo Securities LLC is the agent.
The notes will price and settle in February.
The Cusip number is 94986RF22.
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