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Wells Fargo plans market-linked securities tied to SPDR S&P 500 fund
By Susanna Moon
Chicago, Aug. 14 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed buffered downside due June 7, 2018 linked to the SPDR S&P 500 exchange-traded fund trust, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any gain in the fund, up to a maximum return of $1,370 to $1,420 per $1,000 principal amount.
Investors will receive par if the fund falls by up to 10% and will lose 1% for each 1% beyond 10%.
Wells Fargo Securities LLC is the agent.
The notes will price on Aug. 29 and settle on Sept. 8.
The Cusip number is 94986RUR0.
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