Wells Fargo plans 7%-8% contingent market-tied autocalls on indexes

By Susanna Moon

Chicago, Jan. 11 – Wells Fargo & Co. plans to price market-linked securities due Jan. 27, 2022 – autocallable with contingent coupon and contingent downside linked to the lesser performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7% to 8% if each index closes at or above its 70% threshold on the observation date for that quarter.

The notes will be called at par if each index closes at or above its initial level on any quarterly observation date from July 2018 through October 2021.

The payout at maturity will be par unless any index finishes below its 70% 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 Jan. 30 and settle on Feb. 2.

The Cusip number is 95000E5C9.

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