Wells Fargo plans 10.15%-11.15% contingent coupon market-tied autocalls tied to three stocks

By Susanna Moon

Chicago, Jan. 11 – Wells Fargo & Co. plans to price market-linked securities due Jan. 9, 2021 – autocallable with contingent coupon and contingent downside linked to the least performing of the common stocks of Allergan plc, Micron Technology, Inc. and Caterpillar Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 10.15% to 11.15% if each stock closes at or above its 50% threshold on the observation date for that month.

The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date from July 2018 through October 2020.

The payout at maturity will be par unless any underlying stock finishes below its 50% threshold, in which case the payout will be par plus the return of the worst performing stock with full exposure to any losses.

Wells Fargo Securities LLC is the agent.

The notes will price on Jan. 26 and settle on Jan. 31.

The Cusip number is 95000E5E5.

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