Wells Fargo plans autocallable market-linked notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Jan. 8 – Wells Fargo & Co. plans to price market-linked securities – autocallable with contingent coupon and contingent downside due May 1, 2020 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 7% to 9% if each index closes at or above the 70% threshold on the observation date for that month.

The notes will be called at par if each index closes at or above its initial level on any quarterly review date beginning in July.

The payout at maturity will be par unless any index falls below the 70% threshold, in which case investors will be fully exposed to any decline of the worst performing index.

Wells Fargo Securities LLC is the agent.

The notes will price on Jan. 28.

The Cusip number is 95001BBW3.

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