Wells Fargo plans callable market-linked notes tied to three indexes

By Sarah Lizee

Olympia, Wash., Feb. 5 – Wells Fargo Finance LLC plans to price market-linked securities due March 6, 2029 – callable with contingent coupon and contingent downside linked to the lesser performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Wells Fargo & Co.

The notes will pay a contingent quarterly coupon at an annual rate if each index closes at or above its 75% coupon threshold on a quarterly observation date. The coupon rate will be 8.25% per year in years one through five and 12% per year in years six through 10. The exact interest rate will be set at pricing.

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

The payout at maturity will be par unless either index finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.

Wells Fargo Securities LLC is the agent.

The notes will price on Feb. 25.

The Cusip number is 95001H2S9.

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