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Wells Fargo to price four-year access securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 6 - Wells Fargo & Co. plans to price 0% access securities due Jan. 30, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus the greater of the index return and a fixed payment of 18% to 22% that will be set at pricing.
Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes (Cusip: 94986RCQ2) are expected to price Jan. 25 and settle Jan. 31.
Wells Fargo Securities LLC is the agent.
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