By Wendy Van Sickle
Columbus, Ohio, June 12 – Wells Fargo Finance LLC priced $4.74 million of notes due May 28, 2021 linked to a basket of equally weighted semi-conductor sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the stocks of Micron Technology, Inc., ON Semiconductor Corp. and Intel Corp.
The notes will be guaranteed by Wells Fargo & Co.
If the basket gains, the payout will be par plus 2 times the gain, up to a maximum payout of par plus 32.2%.
If the basket declines by up to 10%, the payout will be par.
Otherwise, investors will be exposed to the decline of the basket beyond 10%.
BofA Merrill Lynch is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Notes
|
| Underlying basket: | Micron Technology, Inc., ON Semiconductor Corp. and Intel Corp., equal weights
|
| Amount: | $4,742,570
|
| Maturity: | May 28, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 2 times any basket gain up to maximum payout of par plus 32.2%; if the basket declines by up to 10%, par; otherwise, investors will be exposed to any decline of the basket beyond 10%
|
| Initial levels: | $33.32 for Micron, $18.11 for ON, $44.73 for Intel
|
| Pricing date: | May 30
|
| Settlement date: | June 6
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 95002W206
|
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