New Issue: Wells Fargo prices $641,000 market-linked notes on Russell 2000

By Tali Rackner

Norfolk, Va., Aug. 23 – Wells Fargo & Co. priced $641,000 of market-linked securities – contingent coupon and contingent downside due Aug. 26, 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 5.8% if the index closes at or above its threshold level, 70% of its initial level, on the observation date for that quarter.

The payout at maturity will be par unless the index finishes below its 70% threshold level, in which case the payout will be par plus the return with full exposure 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 index
Amount:	$641,000
Maturity:	Aug. 26, 2022
Coupon:	5.8% per year, payable quarterly if index closes at or above threshold level on applicable quarterly observation date
Price:	Par
Payout at maturity:	Par unless index falls by more than 30%, in which case full exposure to any losses
Initial level:	1,236.769
Threshold level:	865.7383, 70% of initial level
Pricing date:	Aug. 19
Settlement date:	Aug. 26
Agent:	Wells Fargo Securities LLC
Fees:	3.25%
Cusip:	94986RS93

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