New Issue: Wells Fargo prices $2.35 million market-linked notes on Russell 2000

By Marisa Wong

Morgantown, W.Va., March 22 – Wells Fargo & Co. priced $2.35 million of market-linked securities – contingent coupon and contingent downside due March 24, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at a rate of 6.6% per year if the index closes at or above the threshold level, 70% of the initial level, on the observation date for that quarter. Otherwise, no coupon will be paid that quarter.

If the index finishes at or above its 70% threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline from the initial level.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked securities – contingent coupon and contingent downside
Underlying index:	Russell 2000
Amount:	$2,349,000
Maturity:	March 24, 2022
Coupon:	6.6% per year, payable each quarter that index closes at or above threshold level on observation date for that quarter
Price:	Par
Payout at maturity:	If index finishes at or above threshold level, par; otherwise, full exposure to index decline
Initial level:	1,101.673
Threshold level:	771.1711, 70% of initial level
Pricing date:	March 18
Settlement date:	March 28
Agent:	Wells Fargo Securities LLC
Fees:	3.25%
Cusip:	94986RG39

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