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Wells Fargo plans to price market-linked securities linked to S&P 500
Chicago, Jan. 2 – Wells Fargo & Co. plans to price 0% market-linked securities with upside participation to a cap and fixed percentage buffered downside due Jan. 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any index gain, subject to a cap that is expected to fall between $1,200 and $1,240 per $1,000 of notes and will be set at pricing.
If the index closes below its initial value but at or above the 90% threshold level, investors will receive par.
Investors will lose 1% for every 1% decline beyond the 10% buffer.
Wells Fargo Securities, LLC is the agent.
The notes (Cusip: 95001BBR4) will price Jan. 28 and settle Jan. 31.
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