Wells Fargo to price market-linked autocalls due 2021 on two stocks

By Sarah Lizee

Olympia, Wash., Nov. 8 – Wells Fargo & Co. plans to price market linked securities – autocallable with contingent coupon and contingent downside due Nov. 19, 2021 linked to the least performing of the common stocks of General Mills, Inc. and Conagra Brands, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.5% to 9.5% if each stock closes at or above the 65% threshold on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial price on any quarterly review date from May 2019 to August 2021.

The payout at maturity will be par unless any stock falls below the 65% threshold, in which case investors will be fully exposed to any decline of the worst performing stock.

Wells Fargo Securities LLC is the agent.

The notes will price on Nov. 16 and settle on Nov. 21.

The Cusip number is 95001BAX2.

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