New Issue: Wells Fargo prices $4.62 million market-linked contingent coupon notes on Russell 2000

By Susanna Moon

Chicago, June 22 – Wells Fargo & Co. priced $4.62 million of 0% market-linked securities with contingent coupon and contingent downside due June 23, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.2% if the index closes above its 70% threshold level on the observation date for that quarter.

The payout at maturity will be par plus the final coupon unless the index closes below the 70% threshold level, in which case investors will be fully exposed to any losses.

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:	$4,618,000
Maturity:	June 23, 2022
Coupon:	6.2%, payable quarterly if index closes above its 70% threshold on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless index closes below 70% threshold, in which case full exposure to any losses
Initial level:	1,144.698 for Russell
Threshold level:	801.2886 for Russell, 70% of initial level
Pricing date:	June 17
Settlement date:	June 22
Agent:	Wells Fargo Securities LLC
Fees:	3.25%
Cusip:	94986RN64

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