Wells Fargo plans 11.3%-12.3% contingent coupon autocalls on stocks

By Susanna Moon

Chicago, April 10 – Wells Fargo & Co plans to price market-linked securities due April 30, 2020 – autocallable with contingent coupon and contingent downside linked to the least performing of the common stocks of Allergan plc, Deere & Co. and the Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 11.3% to 12.3% if each stock closes at or above its 60% coupon threshold on the observation date for that month.

The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date from October 2018 to January 2020.

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

Wells Fargo Securities LLC is the agent.

The notes will price on April 25.

The Cusip number is 95001B3D4.

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