By Wendy Van Sickle
Columbus, Ohio, March 20 – Wells Fargo & Co. priced $5.35 million of market linked securities – autocallable with contingent coupon and contingent downside due March 23, 2020 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if the fund closes above its threshold, 75% of its initial price, on the related calculation date.
The notes will be called at par if the fund closes at or above its initial level on any calculation date after six months.
The payout at maturity will be par unless the fund finishes below its threshold, in which case investors will be exposed to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying fund: | VanEck Vectors Gold Miners ETF
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| Amount: | $5,346,000
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| Maturity: | March 23, 2020
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| Coupon: | 9%, payable quarterly if fund closes above threshold on calculation date
|
| Price: | Par
|
| Payout at maturity: | Par unless fund falls by more than 25%, in which case 1% loss for every 1% decline
|
| Call: | At par fund closes at or above initial level on any quarterly calculation date after six months
|
| Initial level: | $21.43
|
| Threshold price: | $16.0725, 75% of initial price
|
| Pricing date: | March 16
|
| Settlement date: | March 21
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.325%
|
| Cusip: | 95001B2R4
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