Wells Fargo eyes digital securities with buffered downside on Russell

By Devika Patel

Knoxville, Tenn., Jan. 31 – Wells Fargo & Co. plans to price 21- to 24-month 0% digital securities with buffered downside linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The exact maturity will be set at pricing.

If the index does not finish below the threshold level, 85% of the initial level, the payout at maturity will be the maximum settlement amount, which is expected to fall between $1,100.10 and $1,117.70 per $1,000 of notes and will be set at pricing. Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond the 15% buffer.

The exact terms will be set at pricing.

Wells Fargo Securities LLC is the agent.

The Cusip is 94986R3X7.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.