By Wendy Van Sickle
Columbus, Ohio, Nov. 7 – Wells Fargo & Co. priced $1.2 million of market linked securities – autocallable with contingent coupon and contingent downside due Nov. 4, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% 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 level on any quarterly observation date from April 2018 to July 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 return with full exposure to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,198,000
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| Maturity: | Nov. 4, 2019
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| Coupon: | 9%, payable quarterly if fund closes at or above 75% threshold on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless the fund falls by more than 25%, in which case full exposure to any losses
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| Call: | At par if the fund closes at or above its initial level on any quarterly observation date from April 2018 to July 2019
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| Initial level: | $33.75
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| Threshold: | $25.3125, 75% of initial level
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 2
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 1.325%
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| Cusip: | 95000E3M9
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