Wells Fargo to price market-linked autocallables on iShares MSCI Brazil

By Marisa Wong

Morgantown, W.Va., March 22 – Wells Fargo & Co. plans to price market-linked securities – autocallable with contingent coupon and contingent downside due March 25, 2020 linked to the iShares MSCI Brazil exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at a rate of 12% to 13% per year if the fund closes at or above 75% of its initial price on the related quarterly observation date.

After six months, the notes will be called at par if the fund closes at or above its initial price on any quarterly observation date prior to maturity.

The payout at maturity will be par unless the fund finishes below its 75% threshold, in which case investors will be fully exposed to the decline below the initial price.

Wells Fargo Securities, LLC is the agent.

The notes will price on March 23.

The Cusip number is 95001B2U7.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.