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Wells Fargo to price notes linked to S&P 500 with averaging feature
By Marisa Wong
Madison, Wis., April 2 - Wells Fargo & Co. plans to price 0% upside participation equity-linked notes due May 7, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the greater of the index return and the minimum return, which is expected to be 2% to 4% and will be set at pricing. The final index level will be the average of the index's closing levels on the last trading day of each January, April, July and October from July 2013 through April 2020.
Wells Fargo Securities LLC is the agent.
The notes are expected to price April 30 and settle May 8.
The Cusip number is 94986RPG0.
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