New Issue: Wells Fargo prices $10,000 more access securities tied to Russell 2000

By Toni Weeks

San Luis Obispo, Calif., April 22 - Wells Fargo & Co. priced another $10,000 of access securities with contingent coupon and contingent downside due Oct. 26, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total deal size to $1.5 million, upsized from $1.49 million.

Each quarter, the notes will pay a contingent coupon if the index closes at or above the 70% threshold level. Otherwise, no coupon will be paid for that quarter. The rate will be 5.7% per year.

The payout at maturity will be par if the index closes at or above 70% of the initial level. Investors will share fully in losses if the index declines beyond 30%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Access securities with contingent coupon and contingent downside
Underlying index:	Russell 2000
Amount:	$1,495,000, upsized from $1,485,000
Maturity:	Oct. 26, 2020
Coupon:	5.7% per year if index closes at or above the 70% threshold level on quarterly calculation date; otherwise, no coupon for that quarter
Price:	Par
Payout at maturity:	Par if the index closes at or above 70% of the initial level; otherwise, exposure to losses
Initial level:	1,137.899
Threshold level:	796.5293, 70% of initial level
Pricing date:	April 17
Settlement date:	April 25
Agent:	Wells Fargo Securities, LLC
Fees:	3%
Cusip:	94986RTN1

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