New Issue: Wells Fargo prices $74.64 million capped leveraged notes on S&P 500

By Sarah Lizee

Olympia, Wash., July 5 – Wells Fargo & Co. priced $74.64 million 0% Capped Leveraged Index Return Notes due June 26, 2020 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of 15.25%.

Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.

BofA Merrill Lynch is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Capped Leveraged Index Return Notes
Underlying index:	S&P 500
Amount:	$74,643,290
Maturity:	June 26, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus double any index gain, up to a maximum return of 15.25%; par if the index falls by up to 10%; 1% loss for every 1% decline beyond 10%
Initial level:	2,718.37
Threshold value:	2,446.53, 90% of initial level
Final level:	Average of closing levels on five trading dates ending June 23, 2020
Pricing date:	June 29
Settlement date:	July 5
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	94988U524

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