Wells Fargo plans market-linked contingent coupon notes on Russell

By Susanna Moon

Chicago, June 1 – Wells Fargo & Co. plans to price market-linked securities with contingent coupon and contingent downside due June 23, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annual rate of 6.2% to 6.7% if the index closes above its 70% threshold on the observation date for that quarter.

The payout at maturity will be par plus the final coupon, unless the index closes below the 70% threshold, in which case investors will be fully exposed to the loss.

Wells Fargo Securities, LLC is the agent.

The notes will price on June 17 and settle on June 24.

The Cusip number is 94986RN64.

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