Wells Fargo plans autocallable access securities tied to Russell 2000

By Angela McDaniels

Tacoma, Wash., March 17 – Wells Fargo & Co. plans to price autocallable access securities with contingent coupon and contingent downside due September 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if the index closes at or above the threshold level, 70% of the initial level, on the calculation date for that quarter. The contingent coupon rate will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if the index closes at or above the initial level on any of the first five quarterly calculation dates.

If the notes are not called and the index's final level is greater than or equal to the threshold level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the index's decline from the initial level.

Wells Fargo Securities, LLC is the agent.

The notes are expected to price and settle in March.

The Cusip number is 94986RWK3.

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