Wells Fargo plans market-linked contingent coupon notes on Russell

By Wendy Van Sickle

Columbus, Ohio, April 7 – Wells Fargo & Co. plans to price market-linked securities with contingent coupon and contingent downside due Oct. 28, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annual rate of at least 6.75% if the index closes above its 70% threshold on the observation date for that quarter.

The payout at maturity will be par plus the final coupon, unless the index closes below the threshold, in which case investors will be fully exposed to the loss.

Wells Fargo Securities, LLC is the agent.

The notes will price on April 22.

The Cusip number is 94986RK34.

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