Wells Fargo to sell market-linked securities linked to S&P 500 index

By Devika Patel

Knoxville, Tenn., Oct. 9 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 8, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 125% of any index gain, up to a maximum payout of 12% to 16%. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.

Wells Fargo Securities, LLC is the agent.

The notes (Cusip: 95001HB34) will price Oct. 31 and settle Nov. 7.

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