New Issue: Wells Fargo sells $687,000 enhanced return securities with cap on S&P

By Sarah Lizee

Olympia, Wash., Oct. 25 – Wells Fargo Finance LLC priced $687,000 of enhanced return securities with capped upside and one-to-one downside exposure due Oct. 27, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Wells Fargo & Co.

If the index return is positive, the payout at maturity will be par plus 300% of the index return, subject to a maximum payment of par plus 26.4%. Investors will lose 1% for each 1% decline of the index from its initial level.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo Finance LLC
Guarantor:	Wells Fargo & Co.
Issue:	Enhanced return securities with capped upside and one-to-one downside exposure
Underlying index:	S&P 500
Amount:	$687,000
Maturity:	Oct. 27, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 300% of index return, subject to maximum payment of par plus 26.4%; 1% loss for each 1% decline of the index from its initial level
Initial index level:	2,995.99
Pricing date:	Oct. 22
Settlement date:	Oct. 29
Agent:	Wells Fargo Securities, LLC
Fees:	None
Cusip:	95001HBQ3

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