Wells Fargo plans growth securities due 2016 linked to SPDR S&P MidCap

By Susanna Moon

Chicago, June 5 - Wells Fargo & Co. plans to price 0% growth securities with leveraged capped upside and fixed percentage buffered downside due January 2016 linked to the SPDR S&P MidCap 400 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any gain in the fund, up to a maximum return of 35% to 45%. The exact cap will be set at pricing.

Investors will receive par if the shares fall by up to 10% and will be exposed to losses beyond the 10% buffer.

Wells Fargo Securities, LLC is the agent.

The notes will settle in July.

The Cusip number is 94986RKB6.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.