Wells Fargo plans leveraged upside participation notes linked to S&P

By Sarah Lizee

Olympia, Wash., Aug. 16 – Wells Fargo Finance LLC plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due March 4, 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 at least 200% of the index return, capped at par plus 20%. The exact participation rate will be set at pricing.

If the final index level is less than or equal to the initial index level but greater than or equal to the threshold level, 90% of the initial index level, the payout will be par.

If the final index level is less than the threshold level, investors will lose 1% for every 1% that the index declines beyond 10%.

Wells Fargo Securities LLC is the agent.

The notes will price Aug. 29.

The Cusip number is 95001H7K1.

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