Wells Fargo eyes upside participation market-linked notes on S&P

By Sarah Lizee

Olympia, Wash., Aug. 2 – Wells Fargo Finance LLC plans to price 0% market-linked securities – upside participation and fixed percentage buffered downside due Aug. 30, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Wells Fargo & Co.

The payout at maturity will be par plus any gain in the index.

If the index falls by up to 15%, the payout will be par.

Otherwise, investors will lose 1% for every 1% decline of the index beyond 15%.

Wells Fargo Securities, LLC is the agent.

The notes will price on Aug. 27.

The Cusip number is 95001H7L9.

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