Wells Fargo to price 0.125% notes linked to four pharma stocks

By Angela McDaniels

Tacoma, Wash., March 22 – Wells Fargo & Co. plans to price 0.125% equity basket-linked notes due March 2021 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes Celgene Corp. with a 40% weight, Amgen Inc. with a 20% weight, Gilead Sciences, Inc. with a 20% weight and Regeneron Pharmaceuticals, Inc. with a 20% weight.

Interest will be payable semiannually.

The notes are callable at any time beginning in March 2019.

The payout upon redemption or at maturity will be the greater of par and parity.

Parity on the pricing date will be set by the issuer and will be less than the original offering price of the notes. On any subsequent trading day, parity will equal the sum of the products of the closing price of each basket stock and its share ratio on that day.

For each stock, its share ratio will equal (a) parity on the pricing date multiplied by the initial weight of that stock divided by (b) the initial price of that stock.

Wells Fargo Securities, LLC is the agent.

The notes will price and settle in March.

The Cusip number is 94986RJ28.

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