Wells Fargo plans 6.25% contingent market-linked autocalls on indexes

By Susanna Moon

Chicago, April 19 – Wells Fargo & Co. plans to price market-linked securities due May 9, 2023 – autocallable with contingent coupon and contingent downside linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 6.25% if each index closes at or above its 75% coupon 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 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 May 4.

The Cusip number is 95001B3H5.

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