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Wells Fargo to price market-linked securities tied to ETF basket
By Wendy Van Sickle
Columbus, Ohio, Nov. 21 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation and fixed-percentage buffered downside due Dec. 7, 2023 linked to an ETF basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the SPDR S&P 500 ETF Trust with a 50% weight, the iShares Russell 2000 ETF with a 15% weight, the iShares MSCI EAFE ETF with a 15% weight, the iShares MSCI Emerging Markets ETF with a 10% weight, the Invesco DB Commodity Index Tracking Fund with a 5% weight and the Vanguard Real Estate ETF with a 5% weight.
The payout at maturity will be par plus 152% to 157% of any basket gain.
Investors will receive par if the basket falls by up to 15%.
If the basket declines by more than 15%, investors will lose 1% for every 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
The notes (Cusip: 95001BB37) will price on Nov. 30 and settle on Dec. 7.
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