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Wells Fargo to price leveraged buffered notes linked to SPDR S&P 500
By Angela McDaniels
Tacoma, Wash., April 8 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 6, 2020 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the trust return is positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum return that is expected to be 55% to 60% and will be set at pricing. Investors will receive par if the trust decreases by up to 20% and will lose 1% for every 1% that the trust declines beyond 20%.
Wells Fargo Securities LLC is the agent.
The notes will price April 30 and settle May 7.
The Cusip number is 94986RWP2.
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