By Sarah Lizee
Olympia, Wash., May 2 – Wells Fargo Finance LLC priced $960,000 of 0% market linked securities – autocallable with contingent downside due May 8, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
The notes will be called at par plus an annual call premium of 8.25% if the index closes at or above its initial level on any annual observation date.
The payout at maturity will be par unless the index finishes below 85% of its initial level, in which case investors will be exposed to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Market linked securities – autocallable with contingent downside
|
| Underlying index: | Russell 2000
|
| Amount: | $960,000
|
| Maturity: | May 8, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 15%, in which case 1% loss for every 1% decline
|
| Call: | At par plus 8.25% per year if index closes at or above initial level on any annual observation date
|
| Initial level: | 1,598.356
|
| Threshold level: | 1,358.6026, 85% of initial level
|
| Pricing date: | April 29
|
| Settlement date: | May 6
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.825%
|
| Cusip: | 95001H4F5
|
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