Wells Fargo plans to price market-linked notes tied to ETF basket

By Marisa Wong

Madison, Wis., Dec. 4 - Wells Fargo & Co. plans to price market-linked notes with upside participation due Jan. 8, 2020 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.

The basket is comprised of the SPDR S&P 500 ETF trust with a 65% weight, the iShares MSCI EAFE index fund with a 25% weight and the iShares MSCI Emerging Markets index fund with a 10% weight.

If the average ending price is greater than the initial price, the payout at maturity will be par plus 1 to 1.1 times any gain in the basket. Investors will receive at least par.

The average ending price will be based on the average of the fund closing prices measured quarterly during the term of the notes.

The notes (Cusip: 94986RMJ7) are expected to price on Dec. 28 and settle on Jan. 3.

Wells Fargo Securities, LLC is the agent.

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