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Wells Fargo to price four-year access securities linked to S&P 500
By Jennifer Chiou
New York, Dec. 7 - Wells Fargo & Co. plans to price 0% access securities with upside participation and fixed percentage buffered downside due Dec. 31, 2014 linked to the S&P 500 index via Wells Fargo Securities, LLC, according to a 424B2 filing with the Securities and Exchange Commission.
If the ending index return is positive or even, the payout at maturity will be par plus the greater of the index return and the contingent minimum return of 18% to 22% that will be set at pricing.
If the index return is between 0% and negative 10%, the payout will be par. Investors will share in losses beyond 10%.
The notes (Cusip: 94986RCD1) will price on Dec. 23 and settle on Dec. 31.
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