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Wells Fargo plans two-year access notes tied to Technology Select SPDR
By Susanna Moon
Chicago, July 15 - Wells Fargo & Co. plans to price 0% access securities with upside participation to a cap and fixed percentage buffered downside due July 30, 2015 linked to the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the fund, up to a maximum return of 11.3% to 13.3%. The exact cap will be set at pricing.
Investors will receive par if the shares fall by up to 20% and will lose 1% for every 1% decline beyond 20%.
Wells Fargo Securities, LLC is the agent.
The notes will price on July 25 and settle on July 31.
The Cusip number is 94986RQU8.
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