Wells Fargo plans market-linked securities tied to S&P 500 index

By Toni Weeks

San Luis Obispo, Calif., April 24 – Wells Fargo & Co. plans to price 0% market-linked securities with upside participation and contingent minimum return and contingent downside due June 1, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the greater of the gain and the contingent minimum return of 40% to 45%, which will be set at pricing.

Investors will receive par for losses of up to 30% and will share fully in losses if the index declines beyond 30%.

The notes (Cusip: 94986RWW7) will price May 22 and settle June 1.

Wells Fargo Securities LLC is the agent.

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