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Wells Fargo plans Market Index Target-Term Securities on index basket
By Sarah Lizee
Olympia, Wash., Dec. 12 – Wells Fargo & Co. plans to price 0% Market Index Target-Term Securities due December 2021 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is made up of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index and the Nikkei Stock Average index with an initial weight of 20% each, the Swiss Market index and the S&P/ASX 200 index with an initial weight of 7.5% each and the Hang Seng index with an initial weight of 5%.
If the basket return is positive, the payout at maturity will be par of $10 plus the basket return, subject to a maximum return that is expected to be 40% to 60% and will be set at pricing. If the basket return is zero or negative, the payout will be par.
BofA Merrill Lynch is the underwriter.
The notes are expected to price and settle in December.
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