Wells Fargo plans callable market-linked notes on S&P 500, Russell

By Sarah Lizee

Olympia, Wash., Jan. 9 – Wells Fargo & Co. plans to price market-linked securities due Jan. 28, 2021 – callable with contingent coupon and fixed percentage downside linked to the lesser 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 if each index closes at or above its 85% coupon threshold on a monthly observation date. The coupon will be at least 10% per year.

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

The payout at maturity will be par unless either index finishes below its 85% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index beyond 15%.

Wells Fargo Securities LLC is the agent.

The notes will price on Jan. 25.

The Cusip number is 95001BC36.

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