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Wells Fargo plans digital securities with buffered downside on S&P 500
By Sarah Lizee
Olympia, Wash., May 15 – Wells Fargo Finance LLC plans to price 0% digital securities due in 25 to 28 months with buffered 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 finishes at or above the 85% threshold level, the payout at maturity will be the maximum settlement amount of $1,126.30 to $1,148.20 for each $1,000 principal amount.
Otherwise, investors will lose 1.1765% for each 1% decline beyond 15%.
The exact deal terms will be set at pricing.
Wells Fargo Securities LLC is the agent.
The Cusip number is 95001H5K3.
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