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Wells Fargo plans to price access securities linked to Russell 2000
By Marisa Wong
Morgantown, W.Va., Oct. 9 – Wells Fargo & Co. plans to price access securities with contingent coupon and contingent downside due Oct. 29, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon if the index closes at or above the 70% threshold level. Otherwise, no coupon will be paid for that quarter. The rate will be 6.5% to 6.8% per year.
The payout at maturity will be par if the index closes at or above 70% of the initial level. Investors will share fully in losses if the index declines beyond 30%.
Wells Fargo Securities, LLC is the agent.
The notes will price on Oct. 23 and settle on Oct. 30.
The Cusip number is 94986RZC8.
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