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Wells Fargo plans leveraged buffer notes tied to indexes via Merrill
By Susanna Moon
Chicago, Aug. 22 – Wells Fargo & Co. plans to price 0% Leveraged Index Return Notes due August 2022 linked to a basket of indexes, according to a 424B2 filed with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index and the Nikkei Stock Average index each with an initial weight of 20%, the Swiss Market index and the S&P/ASX 200 index each with an initial weight of 7.5% and the Hang Seng Index with an initial weight of 5%.
The payout at maturity will be par of $10 plus 200% to 220% of any basket gain, with the participation rate to be set at pricing.
Investors will receive par if the basket falls by up to 10% and will be exposed to any losses beyond 10%.
BofA Merrill Lynch is the agent.
The notes will price and settle in August.
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