Wells Fargo plans to price access securities linked to S&P 500

By Toni Weeks

San Diego, July 30 - Wells Fargo & Co. plans to price 0% access securities with upside participation and contingent downside protection due February 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the greater of the contingent minimum return and the index return. The contingent minimum return is expect to be at least 5.5% and will be set at pricing.

If the index declines by up to 30%, the payout will be par plus the contingent minimum return.

If the index falls by more than 30%, investors will be fully exposed to losses from the initial level.

The notes (Cusip: 94986RKW0) are expected to settle in August.

Wells Fargo Securities, LLC is the agent.

© 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.