By Susanna Moon
Chicago, Dec. 24 – Wells Fargo & Co. priced $1 million of autocallable access securities with contingent coupon and contingent downside due Dec. 29, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 9% if the index closes at or above the trigger level, 75% of the initial level, on the calculation date for that period.
The payout at maturity will be par unless the index finishes below the trigger level, in which case investors will be fully exposed to any losses.
The notes will be called at par plus the contingent coupon if the index closes at or above the initial level on any semiannual review date.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Autocallable access securities with contingent coupon and contingent downside
|
| Underlying index: | Russell 2000
|
| Amount: | $1 million
|
| Maturity: | Dec. 29, 2020
|
| Coupon: | 9% annualized, payable semiannually if index closes at or above trigger level on review date for that period
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par if index finishes at or above trigger level; otherwise, full exposure to any losses
|
| Initial index level: | 1,137.686
|
| Trigger level: | 853.2645, 75% of initial level
|
| Call: | At par plus the contingent coupon if index closes at or above initial level on any semiannual calculation day from June 2016 to June 2020
|
| Pricing date: | Dec. 22
|
| Settlement date: | Dec. 28
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | None
|
| Cusip: | 94986RC74
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
