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Wells Fargo plans upside participation notes due 2022 tied to S&P
By Sarah Lizee
Olympia, Wash., June 12 – Wells Fargo Finance LLC plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due June 23, 2022 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, capped at par plus 25.5%.
If the index declines by up to 20% the payout will be par.
Otherwise, investors will be exposed to any index decline beyond 20%.
Wells Fargo Securities LLC is the agent.
The notes will price June 19.
The Cusip number is 95001H5Z0.
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