New Issue: Wells Fargo prices $5.86 million leveraged market-linked notes on S&P

By Susanna Moon

Chicago, May 16 – Wells Fargo & Co. priced $5.86 million of 0% market-linked notes – upside participation with contingent absolute return and buffered downside with multiplier due May 19, 2020 linked to the S&P 500 index Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index closes at or above its initial level, the payout at maturity will be par plus the gain of the worse performing index.

If either index falls by up to 21%, the payout will be par plus 15% of the absolute value of the decline of the worse performing index.

Otherwise, investors will lose 1.2658% for each 1% decline beyond 21%.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked notes – upside participation with contingent absolute return and buffered downside with multiplier
Underlying index:	S&P 500 index Russell 2000 index
Amount:	$5,857,000
Maturity:	May 19, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus return of worse performing index; if either index falls by up to 21%, par plus 15% of absolute value of decline of worse performing index; otherwise, 1.2658% loss per 1% decline beyond 21%
Initial levels:	2,672.63 for S&P, for Russell
Downside thresholds:	2,111.3777 for S&P, 1,247.36892 for Russell, 79% of initial levels
Pricing date:	May 7
Settlement date:	May 17
Agent:	Wells Fargo Securities LLC
Fees:	0.75%
Cusip:	95001B3T9

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