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Wells Fargo plans leveraged market-linked notes on S&P 500 index
By Sarah Lizee
Olympia, Wash., Dec. 10 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation and contingent downside due Jan. 4, 2024 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 120% to 130% of any index gain.
Investors will receive par if the index falls by up to 30%.
If the index falls by more than 30%, investors will be fully exposed to the decline.
Wells Fargo Securities, LLC is the agent.
The notes will price on Dec. 27.
The Cusip number is 95001BB60.
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