Wells Fargo plans contingent coupon securities on S&P, Russell

New York, Dec. 5 – Wells Fargo & Co. plans to price market-linked securities, callable with contingent coupon and contingent downside due Dec. 31, 2026 linked to the lowest performing of the S&P 500 index and 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 at least 8% if both indexes close at or above the 70% coupon threshold level on the observation date for that quarter. The exact coupon payment will be set at pricing.

Wells Fargo may call the notes at par plus the contingent coupon on any quarterly coupon payment date starting in December 2017.

The payout at maturity will be par unless the lowest performing index finishes below its 50% downside threshold level, in which case investors will be fully exposed to any losses in the lowest performing index from its initial level.

Wells Fargo Securities, LLC is the agent.

The notes will price on Dec. 27 and settle on Dec. 30.

The Cusip number is 94986R2X8.

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