By Wendy Van Sickle
Columbus, Ohio, Nov. 12 – Wells Fargo & Co. priced $1.75 million of 0% market-linked securities due Nov. 8, 2021 – autocallable with fixed buffered downside linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 9.2% if the underlying fund closes at or above its initial level on any observation date after one year.
If the notes are not called, the payout at maturity will be par unless the fund falls by more than 10%, in which case investors will be exposed to any losses beyond the buffer.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market linked securities – autocallable with fixed buffered downside
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| Underlying fund: | Energy Select Sector SPDR fund
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| Amount: | $1,752,000
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| Maturity: | Nov. 8, 2021
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par unless fund falls by more than 10%, in which case 1% loss per 1% decline beyond 10%
|
| Call: | At par plus 9.2% per year if fund closes at or above its initial level on any annual review date after one year
|
| Initial level: | $67.16
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 7
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.825%
|
| Cusip: | 95001B7K4
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