By Wendy Van Sickle
Columbus, Ohio, Jan. 22 – Wells Fargo & Co. priced $5.57 million of market-linked securities due Jan. 23, 2020 – autocallable with contingent coupon and contingent downside linked to the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.25% 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 July 2018 through October 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: VanEck Vectors Oil Services exchange-traded fund
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| Amount: | $5.57 million
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| Maturity: | Jan. 23, 2020
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| Coupon: | 8.25%, payable quarterly if fund closes above threshold on observation date
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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 1% loss for every 1% decline from initial level
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| Call: | At par if the fund closes at or above its initial level on any quarterly observation date from July 2018 through October 2019
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| Initial price: | $28.23
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| Threshold price: | $21.1725, 75% of initial price
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
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| Cusip: | 95000E5G0
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 1.325%
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| Cusip: | 95000E5G0
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