Wells Fargo plans contingent market-linked callables on indexes, fund

By Susanna Moon

Chicago, Aug. 15 – Wells Fargo & Co. plans to price market-linked securities due May 2020 – callable with contingent coupon and contingent downside linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate to be set at pricing if each underlying asset closes at or above its 70% coupon threshold on the observation date for that month.

The notes are callable at par on any monthly observation date after six months.

The payout at maturity will be par unless any underlying asset finishes below its 70% downside threshold, in which case the payout will be par plus the return of the worst performing index or fund with full exposure to any losses.

Wells Fargo Securities LLC is the agent.

The notes will price in August.

The Cusip number is 95001B6C3.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.