By Sarah Lizee
Olympia, Wash., Oct. 3 – Wells Fargo Finance LLC priced $7.66 million of 0% Accelerated Return Notes due Nov. 20, 2020 linked to a basket of financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Citigroup Inc. with a 33.33% weight, JPMorgan Chase & Co. with a 33.33% weight and Morgan Stanley with a 33.33% weight.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 25.2%. Investors will be exposed to any basket decline.
The notes are guaranteed by Wells Fargo & Co.
BofA Merrill Lynch is the underwriter.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Accelerated Return Notes
|
| Underlying stocks: | Citigroup Inc. with a 33.33% weight, JPMorgan Chase & Co. with a 33.33% weight and Morgan Stanley with a 33.33% weight
|
| Amount: | $7,660,570
|
| Maturity: | Nov. 20, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any basket gain, capped at 25.2%; exposure to any basket decline
|
| Initial share prices: | $69.11 for Citi, $117.03 for JPM, $42.62 for Morgan Stanley
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 3
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 95002W834
|
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