New Issue: Wells Fargo prices $5 million 15-year access securities tied to S&P 500

By Susanna Moon

Chicago, Aug. 30 - Wells Fargo & Co. priced $5 million of 0% access securities due Aug. 31, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above the 60% threshold level on a contingent monthly coupon date, the notes will pay a coupon at an annualized rate of 7% for that month.

The payout at maturity will be par unless the index finishes below the 60% trigger level, in which case the payout will be par plus the return with full exposure to losses.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Access securities
Underlying index:	S&P 500
Amount:	$5 million
Maturity:	Aug. 31, 2027
Coupon:	7% annualized if index closes at or above threshold level that month
Price:	Par
Payout at maturity:	If index falls by 40% or less, par; otherwise, full exposure to losses
Initial level:	1,409.30
Threshold level:	845.58, or 60% of initial level
Pricing date:	Aug. 28
Settlement date:	Aug. 31
Agent:	Wells Fargo Securities, LLC
Fees:	3%
Cusip:	94986RLC3

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