Wells Fargo plans market-linked autocallables on Russell, Stoxx, S&P

By Susanna Moon

Chicago, May 17 – Wells Fargo & Co. plans to price 0% market linked securities – autocallable with contingent coupon and contingent downside due June 7, 2021 linked to the lowest 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 8.5% to 9.5% if each index closes at or above the 75% coupon threshold on the observation date for that quarter.

The notes will be called at par if each index closes at or above its initial level on any quarterly review date from December 2017 to March 2021.

The payout at maturity will be par unless any index falls below the 75% downside threshold, in which case investors will be exposed to any losses of the worse performing index.

The notes will price on May 30 and settle on June 6.

The Cusip number is 94986R6G1.

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