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Wells Fargo plans leveraged market-linked notes on index, ETF basket
By Sarah Lizee
Olympia, Wash., Jan. 22 – Wells Fargo Finance LLC plans to price 0% market-linked notes with leveraged upside participation to a cap and contingent downside due Jan. 27, 2023 linked to an equally-weighted basket including the S&P 500 index, the MSCI EAFE index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
The payout at maturity will be par plus 2 times any basket gain, capped at par plus 30%.
Investors will receive par if the basket falls by up to 20% and lose 1% for each 1% decline if it falls beyond 20%.
Wells Fargo Securities, LLC is the agent.
The notes will price Jan. 24.
The Cusip number is 95001HE80.
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