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Wells Fargo plans four-year growth securities with cap tied to S&P 500
By Susanna Moon
Chicago, Aug. 16 - Wells Fargo & Co. plans to price 0% growth securities with leveraged upside participation to a cap and buffered downside with multiplier due Aug. 28, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 118% to 122% of any index gain, up to a maximum return of 80%. The exact participation rate will be set at pricing.
Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.
Wells Fargo Securities, LLC is the agent.
The notes will price on Aug. 23 and settle on Aug. 28.
The Cusip number is 94986RRB9.
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