Wells Fargo plans market-linked buffered autocallables on energy fund

By Susanna Moon

Chicago, July 17 – Wells Fargo & Co. plans to price 0% market-linked securities – autocallable with fixed percentage buffered downside due Aug. 7, 2020 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 7% to 8% if the fund closes at or above its initial level on any annual call date.

The payout at maturity will be par unless the fund falls by more than 10%, in which case investors will be exposed to any losses beyond the buffer.

Wells Fargo Securities, LLC is the agent.

The notes will price on July 31 and settle on Aug. 7.

The Cusip number is 94986R7E5.

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