Wells Fargo plans market-linked autocallables on Stoxx 50, Russell

By Susanna Moon

Chicago, July 25 – Wells Fargo & Co. plans to price market-linked securities due July 30, 2027 –autocallable with contingent coupon and contingent downside linked to the least performing of the Euro Stoxx 50 index and 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 7% if each index closes at or above its 60% 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 observation date from July 2018 to April 2027.

The payout at maturity will be par unless either index finishes below its 60% threshold, in which case the payout will be par plus the return of the worse performing index with full exposure to any losses.

Wells Fargo Securities, LLC is the agent.

The notes will price on July 27 and settle on July 31.

The Cusip number is 95000E2E8.

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