Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
Wells Fargo plans 8%-12% contingent market-tied callables on indexes
By Susanna Moon
Chicago, Nov. 7 – Wells Fargo & Co. plans to price market-linked securities due Nov. 30, 2027 – callable with contingent coupon and contingent downside linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate if each index closes at or above its 75% coupon threshold on the observation date for that quarter. The contingent coupon will be 8% for the first five years, stepping up to 12% after that.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par unless any index finishes below its 50% downside threshold, in which case the payout will be par plus the return of the worst performing index with full exposure to any losses.
Wells Fargo Securities LLC is the agent.
The notes will price on Nov. 27.
The Cusip number is 95000E4C0.
© 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.