By Tali Rackner
Norfolk, Va., Oct. 28 – Wells Fargo & Co. priced $1.85 million of market-linked securities – autocallable with contingent coupon and contingent downside Oct. 30, 2026 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.35% if each index closes at or above its coupon threshold level, 72.5% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above the initial level on any quarterly observation date from October 2017 to July 2026.
The payout at maturity will be par unless either index finishes below its 50% downside threshold level, in which case the payout will be par plus the return of the worst performing index with one-to-one exposure to any losses.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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Underlying indexes: | Russell 2000 and Euro Stoxx 50
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Amount: | $1,848,000
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Maturity: | Oct. 30, 2026
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Coupon: | 9.35% annualized, payable quarterly if each index closes at or above threshold level on observation date for that quarter
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Price: | Par
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Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date from October 2017 until July 2026
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Payout at maturity: | Par unless either index falls by more than 50%, in which case full exposure to any losses of the lesser performing index
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Initial levels: | 1,204.749 for Russell and 2,080.98 for Euro Stoxx
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Coupon threshold levels: | 873.443025 for Russell and 2,233.7105 for Euro Stoxx; 72.5% of initial levels
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Downside threshold levels: | 602.3745 for Russell and 1,540.49 for Euro Stoxx; 50% of initial levels
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | Wells Fargo Securities LLC
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Fees: | 4.75%
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Cusip: | 94986RX63
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