Wells Fargo to price access securities linked to Russell 2000

By Toni Weeks

San Luis Obispo, Calif., Aug. 3 – Wells Fargo & Co. plans to price access securities with contingent coupon and contingent downside due Aug. 27, 2021 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 of 6.4% to 6.6% 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.

If the final index 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 Aug. 21 and settle Aug. 28.

The Cusip number is 94986RYF2.

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