Wells Fargo to price market-linked autocallable notes tied to indexes

By Devika Patel

Knoxville, Tenn., March 23 – Wells Fargo & Co. plans to price market-linked securities due April 4, 2019 – autocallable with contingent coupon and contingent downside linked to the least performing of the S&P 500 index, 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% to 10% if each index closes at or above its threshold level, 75% of its initial level, on the observation date for that quarter.

The notes will be called at par plus a final coupon payment if each index closes at or above the initial level on any quarterly observation date from September 2017 to December 2018, inclusive.

The payout at maturity will be par unless any index finishes below its 75% threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 94986R4Y4) will price on March 30 and settle on April 4.

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