Wells Fargo plans 7%-8% contingent market-linked autocalls on indexes

By Sarah Lizee

Olympia, Wash., Jan. 18 – Wells Fargo & Co. plans to price market-linked securities due Feb. 4, 2027 – autocallable with contingent coupon and contingent downside linked to the least performing of the S&P 500 index, 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 7% to 8% if each index closes at or above its 70% 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 February 2020 to November 2026.

The payout at maturity will be par unless any index finishes below its 50% 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 Jan. 25.

The Cusip number is 95001H2D2.

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