Wells Fargo plans market-tied contingent coupon notes on Russell 2000

By Susanna Moon

Chicago, July 8 – Wells Fargo & Co. plans to price callable market-linked securities with contingent coupon and contingent downside due July 29, 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 any losses.

The notes are callable at par plus the contingent coupon on any contingent coupon payment date after one year.

Wells Fargo Securities, LLC is the agent.

The notes will price on July 22 and settle on July 29.

The Cusip number is 94986RR29.

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