Wells Fargo plans enhanced return securities with cap tied to S&P 500

By Toni Weeks

San Luis Obispo, Calif., April 25 - Wells Fargo & Co. plans to price 0% equity-linked enhanced return securities with upside participation to a cap and one-to-one downside exposure tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will mature 24 to 27 months after issue.

The payout at maturity will be par plus 300% of any gain in the index, up to a maximum settlement amount of $1,225 to $1,261 per $1,000 security.

Investors will be fully exposed to any losses.

The notes (Cusip: 94986RPQ8) are expected to price and settle in April.

Wells Fargo Securities, LLC is the agent.

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