Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
Wells Fargo plans contingent market-linked autocalls on Stoxx, Russell
By Sarah Lizee
Olympia, Wash., Jan. 14 – Wells Fargo Finance LLC plans to price market-linked securities due July 29, 2027 – autocallable with contingent coupon and fixed percentage buffered downside linked to the least performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
The notes will pay a contingent monthly coupon at an annual rate of 5.7% if each index closes at or above its 80% coupon threshold on the observation date for that period.
The notes will be called at par if each index closes at or above its initial level on any monthly observation date beginning in January 2021.
The payout at maturity will be par unless either index finishes below its 80% downside threshold, in which case investors will lose 1% for every 1% decline of the lesser performing index beyond the buffer.
Wells Fargo Securities LLC is the agent.
The notes will price on Jan. 17.
The Cusip number is 95001HE23.
© 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.