Wells Fargo plans five-year market-linked notes on S&P 500, Russell

By Wendy Van Sickle

Columbus, Ohio, Dec. 9 – Wells Fargo & Co. plans to price market-linked securities– callable with contingent coupon and contingent downside – due Dec. 31, 2021 linked to the lesser 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 contingent quarterly coupon at an annual rate of at least 5% if each index closes at or above its 50% threshold level on a quarterly observation date.

The notes will be callable at par on any quarterly observation date after one year.

The payout at maturity will be par unless either index finishes below its threshold level, in which case the payout will be par plus the return of the worse performing index with full exposure to any losses.

Wells Fargo Securities LLC is the agent.

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

The Cusip number is 94986R2Y6.

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