Wells Fargo plans market-linked notes tied to Energy Select SPDR

By Devika Patel

Knoxville, Tenn., Oct. 5 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due May 7, 2020 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 170% of any fund gain, subject to a cap that is expected to fall between 33% and 38% and will be set at pricing.

Investors will receive par if the fund falls by up to the 15% buffer and will lose 1% for each 1% decline if the fund finishes below the buffer.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 94986RX89) will price Oct. 31 and settle Nov. 7.

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