New Issue: Wells Fargo prices $6.87 million of market-linked notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Aug. 9 – Wells Fargo & Co. priced $6.87 million of 0% market-linked notes with contingent fixed return and contingent downside due Aug. 7, 2023 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index return is positive or flat, the payout at maturity will be par plus 40%.

Investors will receive par if the index falls by up to 40% and will be fully exposed to losses if the index falls by more than 40%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked notes with contingent fixed return and contingent downside
Underlying index:	S&P 500
Amount:	$6,865,000
Maturity:	Aug. 7, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 40% if index gains or finishes flat; par if index falls by up to 40%; full exposure to losses if index falls by more than 40%
Initial level:	2,802.6
Threshold level:	1,681.56, 60% of initial level
Pricing date:	July 30
Settlement date:	Aug. 6
Agents:	Wells Fargo Securities, LLC
Fees:	2.62%
Cusip:	95001B4Y7

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