Wells Fargo plans S&P 500-linked notes with contingent fixed return

By Toni Weeks

San Luis Obispo, Calif., Feb. 21 - Wells Fargo & Co. plans to price 0% equity-linked securities with contingent fixed return and buffered downside multiplier linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The tenor of the notes is expected to be 25 to 28 months.

If the final index level is greater than or equal to the threshold level, the payout at maturity will be the contingent fixed redemption amount. The threshold level will be 85% of the initial index level, and the contingent fixed redemption amount is expected to be $1,076.50 to $1,086.50 and will be set at pricing.

If the final index level is less than the threshold level, investors will lose 1.1765% for every 1% that the index declines beyond 15%.

Wells Fargo Securities, LLC is the agent.

The notes will price in February and settle in March.

The Cusip number is 94986RNP2.

© 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.