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Wells Fargo to price digital securities linked to Russell 2000
By Toni Weeks
San Luis Obispo, Calif., July 1 – Wells Fargo & Co. plans to price 0% digital securities with buffered downside linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will mature in 30 to 33 months.
If the index return is at least negative 10%, the payout at maturity will be the maximum settlement amount of $1,130 to $1,160 per $1,000 of notes.
If the index declines by more than 10%, the investors will lose 1.1111% for every 1% decline in the index beyond the 10% buffer.
The exact terms will be set at pricing.
The notes (Cusip: 94986RUG4) are expected to price and settle in July.
Wells Fargo Securities, LLC is the agent.
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