Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
Wells Fargo to price access securities linked to Russell 2000 index
By Jennifer Chiou
New York, April 1 - Wells Fargo & Co. plans to price access securities with contingent coupon and contingent downside due Oct. 26, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon if the index closes at or above the 70% threshold level. Otherwise, no coupon will be paid for that quarter. The rate will be 5.5% to 6.5% per year.
The payout at maturity will be par if the index closes at or above 70% of the initial level. Investors will share fully in losses if the index declines beyond 30%.
The securities (Cusip: 94986RTN1) are expected to price on April 17 and settle on April 25.
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.