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Wells Fargo plans to price market-linked securities linked to S&P 500
By Devika Patel
Knoxville, Tenn., April 17 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due April 30, 2019 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 double any index gain, subject to a cap that is expected to fall between $1,160 and $1,190 per $1,000 of notes and will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
The notes (Cusip: 94986R5R8) will price April 25 and settle April 28.
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