Wells Fargo plans contingent market-linked callable notes on indexes

By Sarah Lizee

Olympia, Wash., Feb. 5 – Wells Fargo Finance LLC plans to price market-linked securities due Feb. 11, 2025 – callable with contingent coupon and contingent downside linked to the least performing of the Nasdaq-100 index, Dow Jones industrial average 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 quarterly coupon at an annual rate of 7% if each index closes at or above its 70% coupon threshold on the observation date for that quarter.

The notes are callable at par on any observation date after one year.

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

Wells Fargo Securities LLC is the agent.

The notes will price on Feb. 6.

The Cusip number is 95001HEM9.

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