Wells Fargo to price market-linked autocallables on oil & gas ETF

By Marisa Wong

Morgantown, W.Va., Nov. 27 – Wells Fargo & Co. plans to price market linked securities – autocallable with contingent coupon and contingent downside due Nov. 29, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 9% to 10% if the fund closes at or above its 75% threshold on the observation date for that quarter.

The notes will be called at par if the fund closes at or above its initial price on any quarterly observation date from May 2018 to August 2019.

The payout at maturity will be par unless the fund finishes below its 75% threshold, in which case the payout will be par plus the fund return with full exposure to any losses.

Wells Fargo Securities, LLC is the agent.

The notes will price Nov. 29.

The Cusip number is 95000E4J5.

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