Wells Fargo plans to price digital buffered notes tied to Russell 2000

By Tali Rackner

Norfolk, Va., May 13 – Wells Fargo & Co. plans to price 25- to 28-month 0% digital securities with buffered downside linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to 85% of the initial level, the payout at maturity will be the maximum settlement amount, which is expected to be $1,125 to $1,147 per $1,000 principal amount of notes and will be set at pricing.

Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%.

Wells Fargo Securities LLC is the agent.

The notes are expected to price and settle in May.

The Cusip number is 94986RL33.

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