Wells Fargo plans enhanced return notes with cap on S&P 500 index

By Devika Patel

Knoxville, Tenn., Dec. 14 – Wells Fargo & Co. plans to price 0% enhanced return securities with capped upside and one-to-one downside exposure linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are expected to mature 18 to 21 months after issuance.

If the final index level is greater than the initial index level, the payout at maturity will be par plus two times the index return, subject to a maximum settlement amount of $1,169.50 to $1,198 per $1,000 of notes. The exact cap will be set at pricing.

Investors will be exposed to any declines.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 94986RC41) will price and settle in December.

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