By Toni Weeks
San Luis Obispo, Calif., Oct. 17 - Wells Fargo & Co. priced $5 million of 5.2% autocallable access securities with contingent downside due Oct. 21, 2015 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if the index closes at or above the initial index level on any quarterly call date.
If the notes are not called and the index's final level is at least 70% of the initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the index decline from the initial level.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Autocallable access securities
|
| Underlying index: | Russell 2000
|
| Amount: | $5 million
|
| Maturity: | Oct. 21, 2015
|
| Coupon: | 5.2%
|
| Price: | Par
|
| Payout at maturity: | If final index level is at least 70% of initial level, par; otherwise, 1% loss for every 1% decline from initial level
|
| Initial level: | 1,079.62
|
| Threshold level: | 755.734, 70% of initial level
|
| Call: | If index closes at or above initial level on any quarterly call date beginning Jan. 15
|
| Pricing date: | Oct. 15
|
| Settlement date: | Oct. 21
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | None
|
| Cusip: | 94986RRT0
|
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