Wells Fargo to price buffered digital securities linked to S&P Banks

By Angela McDaniels

Tacoma, Wash., Sept. 9 – Wells Fargo & Co. plans to price 19- to 22-month 0% digital securities with buffered downside linked to the S&P Banks Select Industry index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be the maximum settlement amount, which is expected to be $1,150.40 to $1,176.90 per $1,000 principal amount of notes. The payout will be par if the index return is negative but not below negative 10%. Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%.

The exact maturity date and maximum settlement amount will be set at pricing.

Wells Fargo Securities, LLC is the agent.

The Cusip number is 94986RV73.

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