Wells Fargo plans contingent coupon autocallables linked to indexes

By Susanna Moon

Chicago, Sept. 7 – Wells Fargo & Co. plans to price market-linked securities due Oct. 4, 2021 – autocallable with contingent coupon and contingent downside linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate at least 7.2% to 8.2% if each index closes at or above its coupon threshold, 70% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par if each index closes at or above the initial level on any observation date from March 2018 through June 2021.

The payout at maturity will be par unless any index finishes below its 70% downside threshold level, in which case the payout will be par plus the return of the worst performing index with full exposure to any losses.

Wells Fargo Securities LLC is the agent.

The notes will price on Sept. 28.

The Cusip number is 95000E2X6.

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