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Wells Fargo to price 1% growth securities due 2018 linked to S&P 500
By Angela McDaniels
Tacoma, Wash., June 5 - Wells Fargo & Co. plans to price 1% growth securities with leveraged upside participation to a cap and fixed percentage buffered downside due January 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The payout at maturity will be par plus 1.5 times the index return if the index return is positive, subject to a maximum payout of 155% to 165% of par that will be set at pricing. Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that the index declines beyond 15%.
The notes (Cusip: 94986RKF7) will settle in July.
Wells Fargo Securities, LLC is the agent.
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