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Wells Fargo plans buffered enhanced return notes linked to S&P 500
By Susanna Moon
Chicago, May 15 – 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 22 to 25 months after issue.
The payout at maturity will be par plus 140% of any index gain, up to a maximum settlement amount of $1,196.00 to $1,228.20 per $1,000 principal amount of notes.
Investors will receive par if the index falls by up to 12.5% and will lose 1.1429% for every 1% decline beyond 12.5%.
Wells Fargo Securities LLC is the agent.
The notes will price and settle in May.
The Cusip number is 94986RXD8.
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