Wells Fargo plans contingent coupon market-linked notes on commodities

By Susanna Moon

Chicago, Jan. 5 - Wells Fargo Bank, NA plans to price 0% contingent annual interest market-linked notes due Jan. 29, 2016 based on a basket of 10 equally weighted commodities, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying components are S&P GSCI Crude Oil Index Excess Return, gasoline, sugar, soybeans, S&P GSCI Wheat Index Excess Return, S&P GSCI Livestock Index Excess Return, zinc gold, platinum and nickel.

Any annual interest payments will be based on the sum of the component returns of the basket, with each component return equal to a fixed component return of 10% to 13% if the commodity never dips. It will never be less than the component return floor of negative 20%.

The payout at maturity will be par plus accrued interest.

The notes (Cusip 949748B63) will price on Jan. 24 and settle on Jan. 31.

Wells Fargo Securities, LLC is the agent. Incapital LLC is the distributor.

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