| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for SPDR S&P 500 ETF Trust > News item |
Wells Fargo plans market-linked notes with averaging tied to basket
By Sarah Lizee
Olympia, Wash., Nov. 7 – Wells Fargo & Co. plans to price 0% market-linked notes – upside participation with averaging and principal return at maturity due Dec. 5, 2023 linked to a basket of one index and five exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the SPDR S&P 500 ETF trust with a 30% weight, the Invesco QQQ Trust, series 1 with a 20% weight, the SPDR S&P MidCap 400 ETF trust with a 15%, the Euro Stoxx 50 index with a 15% weight, the iShares MSCI Emerging Markets ETF with a 10% weight and the iShares Russell 2000 ETF with a 10% weight.
The basket’s final level will be the average of its closing levels on the 28th day of each February, May, August and November, beginning in February 2019 and ending in August 2023.
If the final basket level is greater than the initial index level, the payout at maturity will be par plus 110% to 120% of the basket return.
If the final basket level is less than or equal to the initial level, the payout will be par.
Wells Fargo Securities LLC is the agent.
The notes will price Nov. 30.
The Cusip number is 95001BAQ7.
© 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.