Wells Fargo plans market-linked protected notes tied to Vanguard ETF

By Toni Weeks

San Luis Obispo, Calif., Aug. 1 - Wells Fargo & Co. plans to price 0% market-linked notes with upside participation and averaging due March 6, 2020 linked to the Vanguard Total Stock Market index fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ending price is greater than the initial price, the payout at maturity will be par plus 100% to 110% of the gain, with the exact participation rate to be set at pricing.

If the fund falls, investors will receive par.

The final price will be the average of the closing prices on the last trading day of each February, May, August and November from November 2013 through February 2020.

The notes (Cusip: 94986RQX2) will price Aug. 30 and settle Sept. 9.

Wells Fargo Securities LLC is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.