Wells Fargo plans market-linked notes tied to iShares MSCI EAFE, EM

By Susanna Moon

Chicago, July 8 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Aug. 7, 2020 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the iShares MSCI EAFE ETF with a 70% weight and iShares MSCI Emerging Markets ETF with a 30% weight.

The payout at maturity will be par plus 170% of any basket gain, up to a maximum return of 50% to 55%. The exact cap will be set at pricing.

Investors will receive par if the basket falls by up to 15% and will be exposed to any losses beyond 15%.

Wells Fargo Securities LLC is the agent.

The notes will price on July 31 and settle on Aug. 7.

The Cusip number is 94986RXU0.

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