Wells Fargo plans four-year buffer market-linked autocalls on S&P 500

By Susanna Moon

Chicago, May 17 – Wells Fargo & Co. plans to price 0% market linked securities – autocallable with fixed percentage downside due June 7, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 6% to 7% if the index closes at or above its initial level on any annual call date. The exact call premium will be set at pricing.

The payout at maturity will be par unless the index finishes below its 90% threshold, in which case investors will be exposed to any losses beyond the buffer.

Wells Fargo Securities, LLC is the agent.

The notes will price on May 31.

The Cusip number is 95001B3P7.

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