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Wells Fargo plans three-year growth securities with cap on Russell
By Toni Weeks
San Luis Obispo, Calif., Dec. 3 - Wells Fargo & Co. plans to price 0% growth securities with leveraged upside participation to a cap and buffered downside with multiplier due Dec. 27, 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any index gain, up to a maximum return of 28% to 32%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% decline beyond 15%.
The notes (Cusip: 94986RSE2) are expected to price on Dec. 23 and settle on Dec. 27.
Wells Fargo Securities, LLC is the agent.
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