Wells Fargo to price market-linked autocallable notes tied to Russell

By Devika Patel

Knoxville, Tenn., Sept. 14 – Wells Fargo & Co. plans to price market-linked securities – autocallable with contingent coupon and contingent downside due Sept. 22, 2021 linked to 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 10% if the index closes at or above the 80% to 84% threshold level on the observation date for that quarter. The exact threshold level will be set at pricing.

The notes will be called at par if each index closes at or above the initial level on any quarterly observation date from March 2017 to June 2021.

The payout at maturity will be par unless the index finishes below the threshold level, in which case investors will lose 1% for each 1% decline.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 94986RW56) will price Sept. 16 and settle Sept. 21.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.