By Marisa Wong
Morgantown, W.Va., July 11 – Wells Fargo & Co. priced $1 million of market-linked securities – autocallable with contingent coupon and contingent downside due July 8, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at a rate of 9.4% per year if the index closes at or above the 75% threshold level on the applicable semiannual observation date.
The notes will called at par plus the contingent coupon if the index closes at or above its initial level on any semiannual observation date.
If the notes are not called, the payout at maturity will be par unless the index falls by more than 25%, in which case investors will be fully exposed to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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| Underlying index: | Russell 2000 index
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| Amount: | $1 million
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| Maturity: | July 8, 2021
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| Coupon: | 9.4% per year, payable semiannually if index closes at or above threshold level on applicable semiannual observation date
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| Price: | Par
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| Call: | At par plus contingent coupon if index closes at or above initial level on any semiannual observation date
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| Payout at maturity: | Par unless index falls by more than 25%, in which case full exposure to any losses
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| Initial level: | 1,156.770
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| Threshold level: | 867.5775, 75% of initial level
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| Pricing date: | July 1
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| Settlement date: | July 7
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| Agent: | Wells Fargo Securities LLC
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| Fees: | None
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| Cusip: | 94986RQ95
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