By Sarah Lizee
Olympia, Wash., April 9 – Wells Fargo Finance LLC priced $2.17 million of 0% market-linked securities – autocallable with fixed percentage buffered downside due April 8, 2024 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.
The notes will be called at par plus a 10% annualized premium if the index closes at or above its initial level on any annual call observation date.
If the notes are not called, the payout at maturity will be par unless the index declines by more than 10%, in which case investors will lose 1% for every 1% decline beyond the buffer.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
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| Issue: | Market-linked securities – autocallable fixed percentage buffered downside
|
| Underlying index: | S&P 500
|
| Amount: | $2,171,000
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| Maturity: | April 8, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless the index declines by more than 10%, in which case investors will lose 1% for every 1% decline beyond the buffer
|
| Call: | At par plus 10% annualized call premium if index closes at or above initial level on any annual call observation date
|
| Initial level: | 2,584.59
|
| Buffer: | 90% of initial level
|
| Pricing date: | March 31
|
| Settlement date: | April 7
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.825%
|
| Cusip: | 95001HFS5
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