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Wells Fargo to price equity index-linked notes due 2022 linked to S&P
By Sarah Lizee
Olympia, Wash., June 4 – Wells Fargo & Co. plans to price 0% equity index-linked securities due Jan. 6, 2022 linked to the S&P 500 index with leveraged upside participation to a cap and contingent downside, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any gain in the index, up to a cap that is expected to be between 33% and 38% and will be set at pricing.
Investors will receive par if the index falls by up to 30% and will be fully exposed to any decline beyond 30%.
Wells Fargo Securities, LLC is the agent.
The notes will price on June 28 and settle on July 6. The Cusip number is 95001B4G6.
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