New Issue: Wells Fargo sells $5.2 million market-linked notes tied to S&P 500, Euro Stoxx 50

By Marisa Wong

Morgantown, W.Va., May 2 – Wells Fargo & Co. priced $5.2 million of market-linked securities – autocallable with contingent coupon and contingent – due May 1, 2026 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at a rate of 8.7% per year if the worse performing index closes at or above its coupon threshold level, 70% of its initial level, on the observation date for that quarter.

If the worse performing index closes at or above its initial level on any of the quarterly observation dates from April 2017 to January 2026, the notes will be automatically called at par plus the contingent coupon.

If the notes are not called, the payout at maturity will be par unless the worse performing index finishes below its downside threshold level, 50% of its initial level, in which case the payout will be par plus the return of the worse performing index with full exposure to losses.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked securities – autocallable with contingent coupon and contingent
Underlying indexes:	S&P 500, Euro Stoxx 50
Amount:	$5.2 million
Maturity:	May 1, 2026
Coupon:	Each quarter, contingent coupon at rate of 8.7% per year if worse performing index closes at or above coupon threshold level on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless worse performing index finishes below downside threshold level, in which case par plus return of worse performing index with full exposure to losses
Call:	Automatically at par plus contingent coupon if worse performing index closes at or above its initial level on any of quarterly observation dates from April 2017 to January 2026
Initial levels:	2,091.70 for S&P 500, 3,121.29 for Euro Stoxx 50
Coupon thresholds:	1,464.19 for S&P 500, 2,184.903 for Euro Stoxx 50; 70% of initial levels
Downside thresholds:	1,045.85 for S&P 500, 1,560.645 for Euro Stoxx 50; 50% of initial levels
Pricing date:	April 26
Settlement date:	April 29
Agent:	Wells Fargo Securities LLC
Fees:	3.65%
Cusip:	94986RL41

© 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.