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

By Wendy Van Sickle

Columbus, Ohio, Sept. 9 – Wells Fargo & Co. plans to price callable market-linked securities with contingent coupon and contingent downside due Sept. 30, 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 monthly coupon at an annual rate of 7.5% to 8% if the index closes at or above the 70% coupon barrier level on the observation date for that month. 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 50% downside threshold level, in which case investors will be fully exposed to the index decline.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 94986RV81) will price Sept. 27 and settle on Sept. 30.

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