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Wells Fargo eyes market-linked securities tied to SPDR S&P 500 ETF
By Lisa Mayntz
Chicago, Feb. 9 – Wells Fargo & Co. plans to price market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Sep. 9, 2019 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 140% of any fund gain, up to a maximum return of 22% to 25%.
Investors will receive par if the fund falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
The notes will price on Feb. 28 and settle on March 7.
The Cusip number is 94986R4C2.
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