Wells Fargo plans leveraged market-linked notes on SPDR S&P 500 ETF

By Sarah Lizee

Olympia, Wash., Jan. 16 – Wells Fargo Finance LLC plans to price 0% market-linked securities – leveraged upside participation to a cap and fixed-percentage buffered downside due Feb. 7, 2023 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Wells Fargo & Co.

The payout at maturity will be par plus 150% of any gain in the fund, capped at par plus 25% to 30%.

If the fund falls but not beyond 10%, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline beyond the buffer.

Wells Fargo Securities, LLC is the agent.

The notes will price on Jan. 31.

The Cusip number is 95001HDM0.

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