Wells Fargo plans contingent coupon access securities tied to S&P 500

By Susanna Moon

Chicago, Sept. 12 - Wells Fargo & Co. plans to price access securities with contingent coupon and contingent downside due September 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon of at least 7% if the index closes at or above the 60% trigger level on the observation date for that month. The exact monthly contingent coupon will be set at pricing.

If the final index level is at least 60% of the initial level, the payout at maturity will be par.

Otherwise, investors will be fully exposed to any losses.

Wells Fargo Securities, LLC is the agent.

The notes will price and settle in September.

The Cusip number is 94986RLJ8.

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