Wells Fargo plans 15-year market-linked notes tied to S&P 500

By Susanna Moon

Chicago, Nov. 10 – Wells Fargo & Co. plans to price market-linked securities due Dec. 3, 2031 – callable with contingent coupon and contingent downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 7.75% to 8.25% if the index closes at or above its 70% coupon threshold level on an observation date for that month.

The notes are callable at par on any observation date after one year.

The payout at maturity will be par unless the index finishes below its 50% downside threshold level, in which case the payout will be par plus the return with full exposure to any losses.

Wells Fargo Securities LLC is the agent.

The notes will price on Nov. 28 and settle on Nov. 30.

The Cusip number is 94986R2H3.

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