Wells Fargo to price leveraged buffered notes linked to S&P 500

By Toni Weeks

San Diego, Dec. 19 - Wells Fargo & Co. plans to price 0% S&P 500 index-linked securities with leveraged upside participation to a cap and buffered downside with multiplier, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are expected to mature 23 to 26 months after issue.

If the index return is positive, the payout at maturity will be par plus 1.3 times the index return, subject to the maximum settlement amount of $1,250 to $1,270 per $1,000 principal amount.

Investors will receive par if the index declines by up to 15% and will lose 1.1765% for every 1% decline beyond the 15% buffer.

The notes (Cusip: 94986RMN8) are expected to price and settle in December.

Wells Fargo Securities, LLC will be the agent.

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