Wells plans contingent coupon access securities linked to Russell 2000

By Susanna Moon

Chicago, Feb. 3 – Wells Fargo & Co. plans to price access securities with contingent coupon and contingent downside due Feb. 28, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a continent quarterly coupon at an annual rate of 6.6% to 7.2% if the index closes at or above the 70% threshold level on the observation date for that quarter.

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

Wells Fargo Securities, LLC is the agent.

The notes will price on Feb. 19 and settle on Feb. 26.

The Cusip number is 94986RE98.

© 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.