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Wells Fargo plans six-year enhanced growth securities on S&P 500
By Jennifer Chiou
New York, March 16 - Wells Fargo & Co. plans to price 0% enhanced growth securities due April 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is at least 60% of the initial level, investors will receive a contingent minimum return of 18%.
If the index return is positive, the payout at maturity will be par plus the greater of 18% and 1.25 times the gain, up to a maximum return of 60% to 70%. The exact cap will be set at pricing.
If the index falls by more than 40%, investors will share in losses with up to 82% at risk.
The notes (Cusip: 94986RDF5) will price and settle in March.
Wells Fargo Securities, LLC is the agent.
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