By Susanna Moon
Chicago, Jan. 4 – Wells Fargo & Co. priced $4.24 million of autocallable access securities with contingent downside due Dec. 31, 2025 linked to the S&P 500 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 10.5% if the index closes at or above the 85% coupon barrier level on the review date for that period.
The notes will be called at par if the index closes at or above the initial index level on any annual call date from December 2016 to December 2024.
The payout at maturity will be par unless the index finishes at or above the 85% trigger level. In which case investors will be fully exposed to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Autocallable access securities
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| Underlying index: | S&P 500
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| Amount: | $5 million
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| Maturity: | Dec. 31, 2025
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| Coupon: | 10.5% annualized, payable semiannually if the index closes at or above the 85% coupon barrier level on the review date for that period
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| Price: | Par
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| Payout at maturity: | If final index level is at least 85% of initial level, par; otherwise, full exposure to any losses
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| Call: | If index closes at or above initial level on any annual call date from December 2016 to December 2024
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| Initial level: | 2,056.50
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| Barrier level: | 1,748.025, 85% of initial level
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 31
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| Agent: | Wells Fargo Securities, LLC
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| Fees: | None
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| Cuisp: | 94986RC82
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