Wells Fargo plans 10-year market-linked notes tied to S&P 500, Russell

By Susanna Moon

Chicago, Nov. 7 – Wells Fargo & Co. plans to price market-linked securities– autocallable with contingent coupon and contingent downside – due Nov. 30, 2026 linked to the lesser performing of the S&P 500 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 of 7% if each index closes at or above its 70% coupon threshold level on a quarterly observation date.

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 50% downside threshold level, 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 Nov. 28 and settle on Nov. 30.

The Cusip number is 94986RZ95.

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