Wells Fargo plans contingent coupon access notes tied to Russell 2000

By Susanna Moon

Chicago, Dec. 9 – Wells Fargo & Co. plans to price access securities with contingent coupon and contingent downside due Dec. 28, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.5% to 6.7% if the index closes at or above the trigger level, 70% of the initial level, on the calculation date for that quarter.

The payout at maturity will be par unless the index finishes below the 70% trigger level, in which case investors will be fully exposed to any losses.

Wells Fargo Securities, LLC is the agent.

The notes will price on Dec. 18 and settle on Dec. 28.

The Cusip number is 94986RA92.

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