Wells Fargo plans autocallable market-linked notes tied to indexes

By Sarah Lizee

Olympia, Wash., Nov. 8 – Wells Fargo & Co. plans to price market-linked securities – autocallable with contingent coupon and contingent downside due Nov. 30, 2022 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.5% to 9.5% if each index closes at or above the 75% threshold on the observation date for that quarter.

The notes will be called at par if each index closes at or above its initial level on any quarterly review date beginning in May 2019 and ending in August 2022.

The payout at maturity will be par unless any index falls below the 75% threshold, in which case investors will be fully exposed to any decline of the worst performing index.

Wells Fargo Securities LLC is the agent.

The notes will price on Nov. 29.

The Cusip number is 95001BAP9.

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