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Wells Fargo plans buffered enhanced return securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Feb. 13 – Wells Fargo & Co. plans to price 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.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum settlement of $1,177.45 to $1,208.65 per $1,000 note. Investors will receive par if the index falls by up to 10% and lose 1.1111% for every 1% decline in the index beyond 10%
The agent is Wells Fargo Securities.
The Cusip number is 94986R3Z2.
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