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Wells Fargo to price leveraged market-linked notes tied to S&P 500 Value
By Sarah Lizee
Olympia, Wash., Aug. 13 – Wells Fargo Finance LLC plans to price 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Aug. 23, 2024 linked to the S&P 500 Value 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 125% of any gain in the index, capped at par plus 70% to 75%.
If the index falls but not beyond 15%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline in the index beyond the buffer.
Wells Fargo Securities, LLC is the agent.
The notes will price on Aug. 16.
The Cusip number is 95001HA35.
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