New Issue: Wells Fargo prices $1.91 million contingent coupon notes linked to Russell

By Angela McDaniels

Tacoma, Wash., April 26 – Wells Fargo & Co. priced $1.91 million of market-linked securities with contingent coupon and contingent downside due April 28, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 6.35% per year if the index closes at or above its threshold level, 70% of its initial level, on the calculation day for that quarter.

If the final index level is greater than or equal to the threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked securities with contingent coupon and contingent downside
Underlying index:	Russell 2000
Amount:	$1,908,000
Maturity:	April 28, 2022
Coupon:	Notes pay contingent coupon quarterly at rate of 6.35% per year if index closes at or above threshold level on calculation day for that quarter
Price:	Par
Payout at maturity:	If final index level is greater than or equal to threshold level, par; otherwise, 1% loss for every 1% that final index level is less than initial index level
Initial level:	1,146.69
Threshold level:	802.683, 70% of initial level
Pricing date:	April 22
Settlement date:	April 29
Agent:	Wells Fargo Securities LLC
Fees:	3.25%
Cusip:	94986RJ77

© 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.