By Marisa Wong
Morgantown, W.Va., Nov. 4 – Wells Fargo & Co. priced $2.91 million of market-linked securities– autocallable with contingent coupon and contingent downside – due Nov. 2, 2026 linked to the Russell 2000 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 9.75% if the index closes at or above its threshold level, 72% of its initial level, on a quarterly observation date.
The notes will be called at par if the index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless the index finishes below its threshold level, 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
|
| Underlying index: | Russell 2000
|
| Amount: | $2,907,000
|
| Maturity: | Nov. 2, 2026
|
| Coupon: | 9.75%, payable quarterly if index closes at or above threshold level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless index closes below threshold, in which case full exposure to any losses
|
| Initial level: | 1,189.947
|
| Threshold level: | 856.76184, 72% of initial level
|
| Call: | At par if index closes at or above its initial level on any quarterly observation date after one year
|
| Pricing date: | Oct. 27
|
| Settlement date: | Nov. 1
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | None
|
| Cusip: | 94986RY62
|
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