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Wells Fargo to price contingent coupon market-linked notes on Russell
By Devika Patel
Knoxville, Tenn., March 31 – Wells Fargo & Co. plans to price market-linked securities with contingent coupon and contingent downside due April 28, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a continent quarterly coupon at an annual rate of 6.3% to 6.7% if the index closes at or above the 70% threshold level on the observation date for that quarter.
The payout at maturity will be par unless the index finishes below the 70% threshold level, in which case investors will be fully exposed to any losses.
Wells Fargo Securities LLC is the agent.
The notes (Cusip: 94986RJ77) will price April 22 and settle April 29.
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