Wells Fargo plans 12.5%-13.5% contingent autocallables on four stocks

By Susanna Moon

Chicago, Oct. 26 – Wells Fargo & Co. plans to price market-linked securities due Nov. 30, 2020 – autocallable with contingent coupon and contingent downside linked to the common stocks of E*Trade Financial Corp., Southwest Airlines Co., CVS Health Corp. and Norwegian Cruise Line Holdings Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 12.5% to 13.5% if each stock closes at or above its 60% downside threshold on the observation date for that month.

The notes will be called at par if each stock closes at or above its 95% call threshold on any quarterly call date from May 2018 through August 2020.

The payout at maturity will be par unless any stock finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing stock.

Wells Fargo Securities LLC is the agent.

The notes will price on Nov. 27 and settle on Nov. 30.

The Cusip number is 95000E3W7.

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