Wells Fargo plans buffered enhanced return notes with cap on S&P 500

By Devika Patel

Knoxville, Tenn., Dec. 13 – Wells Fargo & Co. plans to price 0% 24- to 27-month buffered enhanced return securities with capped upside and buffered downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The exact maturity will be set at pricing.

If the final index level is greater than the initial index level, the payout at maturity will be par plus double the index gain, subject to a maximum settlement amount of $1,157.40 to $1,185.20 per $1,000 of notes. The exact cap will be set at pricing.

Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% decline beyond 10%.

Wells Fargo Securities LLC is the agent.

The Cusip is 94986R2S9.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.