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Wells Fargo plans to price market-linked notes tied to S&P 500 index
By Toni Weeks
San Luis Obispo, Calif., May 2 - Wells Fargo & Co. plans to price market-linked notes due June 5, 2020 tied 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 index return and the minimum return, which will be 2% to 4% and will be set at pricing.
If the index return is zero or negative, investors will receive par plus the minimum return.
The ending level will be the average of the closing index levels on the last trading day of each February, May, August and November beginning August 2013.
The notes (Cusip: 94986RPT2) are expected to price May 31 and settle June 7.
Wells Fargo Securities, LLC will be the agent.
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