Chicago, March 16 – Wells Fargo Finance LLC priced $1.73 million of market-linked securities due March 11, 2030 – autocallable with contingent coupon and contingent downside linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.2% if each index closes at or above its 70% coupon threshold on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date from March 2021 to December 2029.
The payout at maturity will be par unless any index finishes below its 60% downside threshold, in which case investors will lose 1% for every 1% decline of the least performing index.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
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| Guarantor: | Wells Fargo & Co.
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $1,725,000
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| Maturity: | March 11, 2030
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| Coupon: | 7.2% annualized, payable each quarter that each index closes at or above coupon threshold on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index falls by more than 40%, in which case 1% loss per 1% decline of worst performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly calculation date from March 2021 to December 2029
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| Initial levels: | 26703.32 for Dow, 1518.491 for Russell, 8877.978 for Nasdaq
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| Coupon thresholds: | 18692.324 for Dow, 1062.9437 for Russell, 6214.5846 for Nasdaq; 70% of initial levels
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| Downside thresholds: | 16021.992for Dow, 911.0946 for Russell, 5326.7868 for Nasdaq; 60% of initial levels
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| Pricing date: | March 2
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| Settlement date: | March 5
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 3.25%
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| Cusip: | 95001HG70
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