Wells Fargo to price leveraged buffered notes linked to S&P 500

By Marisa Wong

Madison, Wis., Jan. 17 - Wells Fargo & Co. plans to price 0% equity-linked securities with leveraged upside participation to a cap and buffered downside with multiplier linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are expected to mature 20 to 23 months after issue.

If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, subject to the maximum settlement amount of $1,180 to $1,200 per $1,000 principal amount.

Investors will receive par if the index declines by up to 12.5% and will lose 1.1429% for every 1% decline beyond the 12.5% buffer.

The notes (Cusip: 94986RMX6) are expected to price and settle in January.

Wells Fargo Securities, LLC will be 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.