Wells Fargo plans to price market-linked autocallable notes on S&P 500

By Devika Patel

Knoxville, Tenn., Nov. 8 – Wells Fargo & Co. plans to price 0% market-linked autocallable securities with fixed percentage buffered downside due Dec. 7, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at an annual call premium of 6% to 7% if the index closes at or above its initial level on any of the four call dates: Dec. 7, 2017, Dec. 7, 2018, Dec. 9, 2019 or Nov. 30, 2020. The exact call premium will be set at pricing.

The payout at maturity will be par unless the index falls by more than 10%, in which case investors will lose 1% for each 1% decline beyond 10%.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 94986R2C4) will price Nov. 30 and settle Dec. 7.

© 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.