New Issue: Wells Fargo prices $3.68 million autocallables with buffered downside on S&P 500

By Wendy Van Sickle

Columbus, Ohio, May 3 – Wells Fargo & Co. priced $3.68 million of 0% autocallable securities with buffered downside due May 6, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium if the index closes at or above the initial index level on any of three call observation dates. The premium is 6.75% if the notes are called on May 8, 2017, 13.5% if the notes are called on May 7, 2018 and 20.25% if the notes are called on April 29, 2019.

The payout at maturity will be par unless the index falls by more than 10% in which case investors will be exposed to losses beyond the 10% buffer.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Autocallable securities with buffered downside
Underlying index:	S&P 500
Amount:	$3,682,000
Maturity:	May 6, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless index falls by more than 10% in which case exposure to losses beyond 10%
Call:	Automatically at par plus a call premium if the index closes at or above the initial index level on any of three call observation dates; premium is 6.75% if the notes are called on May 8, 2017, 13.5% if called on May 7, 2018 and 20.25% if called on April 29, 2019
Initial level:	2,065.30
Threshold level:	1,858.77, 90% of initial level
Pricing date:	April 29
Settlement date:	May 6
Underwriter:	Wells Fargo Securities LLC
Fees:	1.325%
Cusip:	94986RJ85

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