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Wells Fargo plans to price market-linked securities linked to S&P 500
By Sarah Lizee
Olympia, Wash., Oct. 8 – Wells Fargo & Co. plans to price 0% market-linked securities with contingent fixed return and fixed percentage buffered downside due Oct. 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above 85% of its initial level, the payout at maturity will be par plus a fixed return of 20% to 24%. The exact fixed return will be set at pricing.
Investors will be exposed to any losses beyond 15%.
Wells Fargo Securities, LLC is the agent.
The notes (Cusip: 95001BA79) will price on Oct. 26.
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