Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
Wells Fargo eyes leveraged upside participation notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., April 8 – Wells Fargo Finance LLC plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 3, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Wells Fargo & Co.
If the final level of the lesser performing index is greater than the initial index level, the payout at maturity will be par plus at least 200% of the index return, capped at par plus 30% to 35%. The exact participation rate and cap will be set at pricing.
If the final level of the lesser performing index is less than or equal to the initial index level but greater than or equal to the threshold level, 90% of the initial index level, the payout will be par.
If the final level of the lesser performing index is less than the threshold level, investors will lose 1% for every 1% that it declines below the threshold level.
Wells Fargo Securities LLC is the agent.
The notes will price April 29.
The Cusip number is 95001H4P3.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.