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Wells Fargo plans five-year market-linked notes linked to S&P 500
By Susanna Moon
Chicago, Feb. 8 – Wells Fargo & Co. plans to price market-linked securities due March 7, 2022 – leveraged upside participation and contingent downside 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 125% to 135 of any index gain, with the exact participation rate to be set at pricing.
If the index finishes at or above its 70% downside threshold, the payout will be par.
Otherwise, investors will receive par plus the return with full exposure to any losses.
Wells Fargo Securities LLC is the agent.
The notes will price on Feb. 28 and settle on March 7.
The Cusip number is 94986R4H1.
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