Wells Fargo plans callable market-linked notes tied to three indexes

By Sarah Lizee

Olympia, Wash., Jan. 8 – Wells Fargo & Co. plans to price market-linked securities due Jan. 22, 2024 – callable with contingent coupon and contingent downside linked to the lesser performing of the Dow Jones Industrial Average, the Nasdaq-100 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 if each index closes at or above its 70% coupon threshold on a quarterly observation date. The coupon rate will be at least 11.3% per year.

The notes will be callable at par on any quarterly observation date after six months.

The payout at maturity will be par unless either index finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.

Wells Fargo Securities LLC is the agent.

The notes will price on Jan. 16.

The Cusip number is 95001BC28.

© 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.