By Susanna Moon
Chicago, Sept. 29 – Wells Fargo & Co. priced $5 million of market-linked securities due Sept. 30, 2027 – autocallable with contingent coupon and contingent downside linked to the least 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 6.75% if each index closes at or above its 60% 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 interest payment date after one year.
The payout at maturity will be par unless either index finishes below its 60% downside threshold, 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.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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| Underlying indexes: | Russell 2000, Euro Stoxx 50
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| Amount: | $5 million
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| Maturity: | Sept. 30, 2027
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| Coupon: | 6.75% annualized, payable quarterly if each index closes at or above 60% coupon threshold on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index falls by more than 40%, in which investors will receive par plus return of the worse performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly observation date from September 2018 through June 2027
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| Initial levels: | 1,451.958 for Russell, 3537.81 for Stoxx
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| Thresholds: | 871.1748 for Russell, 2122.686 for Stoxx; 60% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 29
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 3.45%
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| Cusip: | 95000E3E7
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