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Wells Fargo plans to price upside participation notes linked to S&P
By Sarah Lizee
Olympia, Wash., May 6 – Wells Fargo Finance LLC plans to price 0% market-linked securities with upside participation and fixed percentage buffered downside due May 31, 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.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return.
If the final index level is less than or equal to the initial index level but greater than or equal to the threshold level, 80% to 85% of the initial index level, the payout will be par.
If the final index level is less than the threshold level, investors will lose 1% for every 1% that the index declines below the threshold level.
Wells Fargo Securities LLC is the agent.
The notes will price May 28.
The Cusip number is 95001H5M9.
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