Wells Fargo plans contingent 11%-12% market-linked autocalls on stocks

By Susanna Moon

Chicago, June 29 – Wells Fargo & Co. plans to price market-linked securities due July 21, 2021 – autocallable with contingent coupon and contingent downside linked to the lowest performing of the common stocks of Lowe’s Cos., Inc., Intel Corp., Delta Air Lines, Inc. and JPMorgan Chase & Co., 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% to 12% if each stock closes at or above its 70% coupon threshold on the observation date for that month.

The notes will be called at par if each stock closes at or above its 95% call level on any observation date from January 2019 to April 2021.

The payout at maturity will be par unless any stock finishes below its 60% downside threshold, in which case the payout will be par plus the return with full exposure to any losses to the worst performing stock.

Wells Fargo Securities LLC is the agent.

The notes will price on July 16 and settle on July 19.

The Cusip number is 95001B4Z4.

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