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Wells Fargo plans contingent market-linked notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., May 6 – Wells Fargo Finance LLC plans to price market-linked securities due June 6, 2023 – contingent fixed return and contingent downside 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.
If the index gains or finishes flat, the payout will be par plus 28% to 32%.
If the index declines by up to 30%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the index from its initial level.
Wells Fargo Securities LLC is the agent.
The notes will price on May 30.
The Cusip number is 95001H5J6.
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