Wells Fargo plans market-linked autocallables on Russell, Stoxx

By Wendy Van Sickle

Columbus, Ohio, May 9 – Wells Fargo & Co. plans to price 0% market linked securities – autocallable with contingent coupon and contingent downside due May 18, 2027 linked to the lower performing of the Russell 2000 index and the Euro Stoxx 50 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 8.25% if each index closes at or above the 70% coupon threshold on the observation date for that quarter.

The notes will be called at par if each index closes at or above its initial level on any quarterly review date after six months.

The payout at maturity will be par unless any index falls below the 50% downside threshold, in which case investors will be exposed to any losses of the worse performing index.

The notes will price on May 12 and settle on May 17.

The Cusip number is 94986R6B2.

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