Wells Fargo plans two-year market-linked step-up notes on S&P 500

By Susanna Moon

Chicago, May 4 – Wells Fargo & Co. plans to price market-linked step-up notes due June 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the notes are not called and the index finishes above the step-up value, 110% to 116% of the initial level, the payout at maturity will be par plus the index gain.

If the index gains by up to the step-up level, the payout will be par plus the step-up return of 10% to 16%.

Investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

The notes will price in May and settle in June.

© 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.