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Wells Fargo to price digital securities linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, July 21 – Wells Fargo & Co. plans to price 0% digital securities with buffered downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will mature in 23 to 26 months.
If the index return is at least negative 12.5%, the payout at maturity will be the maximum settlement amount of $1,118.30 to $1,139.10 per $1,000 of notes.
If the index declines by more than 12.5%, the investors will lose 1.1429% for every 1% decline in the index beyond the 12.5% buffer.
The exact terms will be set at pricing.
Wells Fargo Securities, LLC is the agent.
The notes will price in July and settle in August.
The Cusip number is 94986RS28.
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