Iron-bearing oxides undergo a series of pressure-induced electronic, spin and structural transitions that can cause seismic anomalies and dynamic instabilities in Earths mantle and outer core. We employ x-ray diffraction and x-ray emission spectroscopy along with state-of-the-art density functional plus dynamical mean-field theory (DFT+DMFT) to characterize the electronic structure and spin states, and crystal-structural properties of wustite (Fe$_{1-x}$O) -- a basic oxide component of Earths interior -- at high pressure-temperature conditions up to 140 GPa and 2100 K. We find that FeO exhibits complex polymorphism under pressure, with abnormal compression behavior associated with electron-spin and crystallographic phase transitions, and resulting in a substantial change of bulk modulus. Our results reveal the existence of a high-pressure phase characterized by a metallic high-spin state of iron at about the pressure-temperature conditions of Earths core-mantle boundary. The presence of high-spin metallic iron near the base of the mantle can significantly influence the geophysical and geochemical properties of Earths deep interior.