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Wells Fargo plans notes with contingent fixed return tied to S&P 500
By Angela McDaniels
Tacoma, Wash., Feb. 18 – Wells Fargo & Co. plans to price 0% market-linked securities with contingent fixed return and fixed percentage buffered downside due Feb. 26, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the threshold level, 85% of the initial index level, the payout at maturity will be par plus the contingent fixed return, which is expected to be 19% to 23% and will be set at pricing. If the final index level is less than the threshold level, investors will lose 1% for every 1% that the index declines beyond 15%.
Wells Fargo Securities LLC is the agent.
The notes will price Feb. 19.
The Cusip number is 94986RF63.
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