New Issue: Wells Fargo sells $14.47 million buffered enhanced return securities on S&P 500

By Wendy Van Sickle

Columbus, Ohio, May 11 – Wells Fargo & Co. priced $14.47 million of buffered enhanced return securities with capped upside and buffered downside due Feb. 20, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum payment of par plus 21.25%. Investors will receive par if the index falls by up to 7% and lose 1.0753% for every 1% decline in the index beyond 7%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Buffered enhanced return securities with capped upside and buffered downside
Underlying index:	S&P 500
Amount:	$14,467,000
Maturity:	Feb. 20, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 150% of index return, subject to maximum payment of par plus 21.25%; par if index falls by up to 7%; 1.0753% loss for every 1% decline in index beyond 7%
Initial index level:	2,697.79
Pricing date:	May 9
Settlement date:	May 16
Agent:	Wells Fargo Securities, LLC
Fees:	1.31%
Cusip:	95001B3R3

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