Wells Fargo plans notes with averaging, minimum return tied to S&P 500

By Angela McDaniels

Tacoma, Wash., Sept. 26 – Wells Fargo & Co. plans to price 0% market-linked notes – upside participation with averaging and minimum return at maturity due Oct. 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The index’s final level will be the average of its closing levels on the 27th day of each March, June, September and December, beginning December 2017 and ending June 2024.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the greater of the minimum return and the increase from the initial index level to the final index level. The minimum return is expected to be 10% to 14% and will be set at pricing.

If the final index level is less than or equal to the initial index level, the payout will be par plus the minimum return.

Wells Fargo Securities LLC is the agent.

The notes will price Sept. 29.

The Cusip number is 95000E3F4.

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