Wells Fargo plans market-linked contingent autocallables on S&P

By Tali Rackner

Norfolk, Va., May 20 – Wells Fargo & Co. plans to price market-linked autocallable securities with contingent coupon and contingent downside due June 2, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a semiannual coupon at an annual rate of 10.5% to 11% if the index closes above its 85% threshold on the observation date for that period.

The notes will be called at par plus the contingent coupon if the index finishes at or above its initial level on any annual call date.

The payout at maturity will be par plus the final coupon, unless the index closes below the 85% threshold, in which case investors will be fully exposed to the loss.

Wells Fargo Securities, LLC is the agent.

The notes will price on May 27 and settle on June 2.

The Cusip number is 94986RM99.

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