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Wells Fargo plans buffered enhanced return notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 11 – Wells Fargo & Co. plans to price 18- to 21-month 0% buffered enhanced return securities with capped upside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, up to a maximum settlement amount of $1,147 to $1,171 per $1,000 principal amount of notes.
Investors will receive par if the index falls by up to 5% and will lose 1.0526% for every 1% decline beyond 5%.
The exact deal terms, including maturity and cap, will be set at pricing.
Wells Fargo Securities LLC is the agent.
The notes will price and settle in March.
The Cusip number is 94986RH38.
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