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Wells Fargo plans market-linked notes due 2024 on S&P 500
Chicago, Feb. 12 – Wells Fargo Finance LLC plans to price 0% market-linked notes with upside participation and fixed percentage buffered downside due March 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Wells Fargo & Co.
The payout at maturity will be par plus any index gain.
Investors will receive par if the index falls by between 40% to 45% and will lose 1% for each 1% decline beyond the 40% to 45% buffer. The exact threshold and buffer levels will be set at pricing.
Wells Fargo Securities LLC is the agent.
The notes will price on Feb. 27.
The Cusip number is 95001H2W0.
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