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Wells Fargo to price 0% enhanced return notes with cap on iShares EM
By Devika Patel
Knoxville, Tenn., Nov. 10 – Wells Fargo & Co. plans to price 0% enhanced return securities with upside participation to a cap and one-to-one downside exposure linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature between 25 and 28 months after issue.
The payout at maturity will be par plus five times any gain in the index, up to a maximum payment of $1,300 to $1,350 per $1,000 note. The exact cap will be set at pricing.
Investors will be exposed to any decline.
The exact deal terms will be set at pricing.
Wells Fargo Securities, LLC is the agent.
The notes (Cusip: 94986RZZ7) will price and settle in November.
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