By Wendy Van Sickle
Columbus, Ohio, April 30 – Wells Fargo & Co. priced $1.71 million of market-linked securities due April 30, 2020 – autocallable with contingent coupon and contingent downside linked to the least performing of the shares of eBay Inc., Southwest Airlines Co. and United Rentals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12.9% if each stock closes at or above its 60% threshold on the observation date for that month.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any stock finishes below its 60% threshold, in which case the payout will be par plus the return of the worst performing stock with full exposure to any losses.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying stocks: | eBay Inc., Southwest Airlines Co. and United Rentals, Inc.
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| Amount: | $1,714,000
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| Maturity: | April 30, 2020
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| Coupon: | 12.9% annualized, payable monthly if each stock closes at or above 60% threshold on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock falls by more than 40%, in which case 1% loss per 1% decline of worst performing stock
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| Call: | At par if each stock closes at or above initial level on any quarterly review date beginning in October 2018
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| Initial levels: | $40.97 for eBay, $53.83 for Southwest Airlines and $157.88 for United Rentals
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| Thresholds: | $24.582 for eBay, $32.298 for Southwest Airlines and $94.728 for United Rentals; 60% of initial levels
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 3.4%
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| Cusip: | 95001B3C6
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