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Wells Fargo plans market-linked notes on Russell 2000, PowerShares QQQ
By Marisa Wong
Morgantown, W.Va., Jan. 23 – Wells Fargo & Co. plans to price 0% market-linked securities – leveraged upside participation to a cap and contingent downside due Jan. 28, 2021 linked to the lesser performing of the Russell 2000 index and the PowerShares QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus at least 350% of any gain in the lesser performing asset, subject to a maximum return of 35%.
If the lesser performing asset falls by up to 40%, the payout will be par.
If the lesser performing asset falls by more than 40%, investors will be fully exposed to the decline of that lesser performing asset.
Wells Fargo Securities LLC is the agent.
The notes will price on Jan. 24.
The Cusip number is 95000E5L9.
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