Wells Fargo plans to price market-linked securities linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, May 12 – Wells Fargo & Co. plans to price 0% market-linked securities with contingent fixed return and contingent downside due June 6, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index gains or is flat, the payout at maturity will be par plus a fixed return of 34% to 38%. The exact fixed return will be set at pricing.

Investors will receive par if the index falls by up to 40% and will be fully exposed to the loss if the index falls by more than 40%.

Wells Fargo Securities, LLC is the agent.

The notes (Cusip: 94986R5R8) will price May 30 and settle June 6.

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