New Issue: Wells Fargo sells $1.11 million enhanced return notes on S&P 500

By Marisa Wong

Los Angeles, April 1 – Wells Fargo Finance LLC priced $1.11 million of 0% enhanced return securities with capped upside and one-to-one downside exposure due Sept. 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Wells Fargo & Co.

If the index’s final level is greater than the initial level, the payout at maturity will be par plus 500% of the index return, subject to a maximum settlement amount of $1,267 per $1,000 principal amount of notes. Investors will be fully exposed to any index decline.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo Finance LLC
Guarantor:	Wells Fargo & Co.
Issue:	Enhanced return securities with capped upside and one-to-one downside exposure
Underlying index:	S&P 500
Amount:	$1,105,000
Maturity:	Sept. 29, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 5 times any index gain, capped at par plus 26.7%; full exposure to any losses
Initial level:	2,475.56
Pricing date:	March 25
Settlement date:	April 1
Agent:	Wells Fargo Securities, LLC
Fees:	1.51%
Cusip:	95001HHM6

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