Wells Fargo plans 5.5%-6.5% contingent market-linked autocalls tied to Nasdaq-100, Russell

By Susanna Moon

Chicago, June 11 – Wells Fargo & Co. plans to price market-linked securities due June 29, 2023 – autocallable with contingent coupon and contingent downside linked to the least performing of the Nasdaq-100 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 5.5% to 6.5% if each index closes at or above its 65% 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 observation date from June 2019 to March 2023.

The payout at maturity will be par unless any index finishes below its 65% downside threshold, in which case the payout will be par plus the return of the worst performing index with full exposure to any losses.

Wells Fargo Securities LLC is the agent.

The notes will price on June 26 and settle on June 29.

The Cusip number is 95001B4K7.

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