Wells Fargo plans autocallable access securities tied to Russell 2000

By Toni Weeks

San Diego, Sept. 17 - Wells Fargo & Co. plans to price 0% autocallable access securities with contingent downside protection due October 2014 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium if the index closes at or above the initial level on any of three call dates. The call premium is 12% to 14% for the first call date in September 2013, 18% to 21% for the second call date in March 2014 and 24% to 28% for the final call date in September 2014.

If the notes are not called and the index's final level is at least 80% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines from the initial index level.

The notes (Cusip: 94986RLP4) are expected to price and settle in September.

Wells Fargo Securities, LLC is the agent.

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