By Susanna Moon
Chicago, Feb. 5 – Wells Fargo & Co. priced $2.67 million of market-linked securities due Jan. 29, 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 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 95% redemption threshold on any quarterly observation date six months.
The payout at maturity will be par unless any 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.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying stocks: | Allergan plc (Symbol: AGN), Micron Technology, Inc. (Symbol: MU) and Caterpillar Inc. (Symbol: CAT)
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| Amount: | $2,667,000
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| Maturity: | Jan. 29, 2021
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| Coupon: | 11.15% annualized, payable monthly if each stock closes at or above 50% threshold on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock falls by more than 50%, in which case 1% loss per 1% decline of worst performing stock
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| Call: | At par if each stock closes at or above 95% call level on any quarterly review date beginning in July 2018
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| Initial levels: | $186.93 for Allergan, $43.67 for Micron and $167.06 for Caterpillar
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| Thresholds: | $93.465 for Allergan, $21.835 for Micron and $83.53 for Caterpillar; 50% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 3.4%
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| Cusip: | 95000E5E5
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