Wells Fargo to sell market-linked autocallable notes on three indexes

By Devika Patel

Knoxville, Tenn., Sept. 19 – Wells Fargo & Co. plans to price market-linked securities due Sept. 30, 2027 – callable with contingent coupon and contingent downside linked to the least performing of the S&P 500 index, 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 9% from December 2017 to September 2022 and at least 12% from December 2022 to September 2027 if each index closes at or above its coupon threshold level, 75% of its initial level, on the observation date for that quarter. The exact coupon rates will be set at pricing.

The notes will be callable in whole at par on any quarterly call date from September 2018 to June 2027, inclusive.

The payout at maturity will be par unless any index finishes below its 50% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 95000E2U2) will price on Sept. 26 and settle on Sept. 29.

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