Wells Fargo plans autocallable buffered notes on Energy Select SPDR

New York, June 9 – Wells Fargo & Co. plans to price 0% autocallable securities with buffered downside due July 6, 2018 linked to the Energy Select Sector SPDR exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund’s closing level on any call observation date is greater than or equal to its initial level, the notes will be automatically called at par plus a call premium.

The call premium will be 8% to 10% if the notes are called on July 6, 2017, the first call date, 12% to 15% if called on Jan. 8, 2018, the second call date and 16% to 20% if called on June 28, 2018, the final call date. The exact call premium will be set at pricing.

At maturity, if the fund’s closing price on the final observation date is above its initial level the notes will be automatically called at par plus the call premium.

If the fund declines but by 10% or less then the payout will be par.

Investors will be exposed to any decline in the fund beyond the 10% buffer.

Wells Fargo Securities LLC is the agent.

The notes will price on June 30 and settle on July 6.

The Cusip number is 94986RP39.

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