By Marisa Wong
Madison, Wis., Jan. 27 - Wells Fargo & Co. priced $5 million of autocallable access securities with contingent coupon and contingent downside due Jan. 29, 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the threshold level, 70% of the initial level, on a quarterly observation date, the notes will pay an annualized contingent coupon of 5% for that quarter.
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: | Jan. 29, 2016
|
| Coupon: | 5% per year, payable quarterly if index closes at or above threshold level on quarterly observation date
|
| 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: | 1,181.29
|
| Threshold level: | 826.903, 70% of initial level
|
| Call: | If index closes at or above initial level on any quarterly call date
|
| Pricing date: | Jan. 23
|
| Settlement date: | Jan. 29
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | None
|
| Cusip: | 94986RSU6
|
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