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Wells Fargo plans Russell-linked notes with contingent fixed return
By Angela McDaniels
Tacoma, Wash., Feb. 4 - Wells Fargo & Co. plans to price 0% equity-linked securities with contingent fixed return and buffered downside multiplier linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The tenor of the notes is expected to be 18 to 21 months.
If the final index level is greater than or equal to the threshold level, the payout at maturity will be the contingent fixed redemption amount. The threshold level will be 85% of the initial index level, and the contingent fixed redemption amount is expected to be $1,061 to $1,071 and will be set at pricing.
If the final index level is less than the threshold level, investors will lose 1.1765% for every 1% that the index declines beyond 15%.
Wells Fargo Securities LLC is the agent.
The notes will price and settle in February.
The Cusip number is 94986RNC1.
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