Wells Fargo to price access securities linked to SPDR S&P 500 ETF

By Angela McDaniels

Tacoma, Wash., Sept. 27 - Wells Fargo & Co. plans to price 0% access securities with upside participation and contingent downside due Oct. 19, 2016 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event will occur if the trust's closing share price is less than the threshold price on any day during the life of the notes. The threshold price is expected to be 60% to 63% of the initial share price and will be set at pricing.

If the trust's final share price is greater than or equal to the initial share price, the payout at maturity will be par plus the trust return.

If the final share price is less than the initial share price and a knock-in event has not occurred, the payout will be par.

If the final share price is less than the initial share price and a knock-in event has occurred, investors will have 1-to-1 downside exposure to the trust's decline from its initial price.

Wells Fargo Securities, LLC is the agent.

The notes are expected to price Oct. 14 and settle Oct. 17.

The Cusip number is 94986RRR4.

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