Wells Fargo to price buffered enhanced return notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Dec. 27 - Wells Fargo & Co. plans to price 0% buffered enhanced return securities linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The tenor of the notes is expected to be 26 to 29 months.

If the index return is positive, the payout at maturity will be par plus 1.4 times the index return, subject to a maximum return of 21.7% to 24.5%. If the index return is zero or negative but not below negative 12.5%, the payout will be par. If the index return is less than negative 12.5%, investors will lose 1.1429% for every 1% that the index declines beyond 12.5%.

The exact maturity date and maximum return will be set at pricing.

Wells Fargo Securities, LLC is the agent.

The notes will price in December and settle in January.

The Cusip number is 94986RSL6.

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