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Wells plans contingent coupon market-linked securities tied to Russell
By Susanna Moon
Chicago, March 3 – Wells Fargo & Co. plans to price market-linked securities with contingent coupon and contingent downside due March 24, 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 March 18 and settle on March 28.
The Cusip number is 94986RG39.
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