Wells Fargo to price contingent coupon market-linked notes on S&P 500

By Devika Patel

Knoxville, Tenn., Aug. 10 – Wells Fargo & Co. plans to price callable market-linked securities with contingent coupon and contingent downside due Aug. 29, 2031 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a continent quarterly coupon at an annual rate of 7.5% to 8% if the index closes at or above the 70% threshold level on the observation date for that quarter. The exact coupon will be set at pricing.

The notes may be called after one year.

The payout at maturity will be par unless the index finishes below the 70% threshold level, in which case investors will lose 1% for each 1% decline beyond 70%.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 94986RT43) will price Aug. 26 and settle Aug. 31.

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