By Sarah Lizee
Olympia, Wash., April 1 – Wells Fargo Finance LLC priced $3.26 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due March 31, 2023 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
The basket consists of the SPDR Dow Jones Industrial Average ETF Trust (50% weight), the SPDR S&P MidCap 400 ETF Trust (30% weight) and the iShares Russell 2000 ETF (20% weight).
The payout at maturity will be par plus 150% of any basket gain, subject to a 55% maximum gain.
Investors will receive par if the basket falls by up to 10% and will otherwise lose 1% for every 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
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| Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying basket: | SPDR Dow Jones Industrial Average ETF Trust (50% weight), the SPDR S&P MidCap 400 ETF Trust (30% weight) and the iShares Russell 2000 ETF (20% weight)
|
| Amount: | $3,256,000
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| Maturity: | March 31, 2023
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any basket gain, subject to 55% maximum gain; par if the basket falls by up to buffer level; otherwise 1% loss for every 1% decline beyond buffer
|
| Initial levels: | $206.64 for Dow ETF, $245.29 for S&P ETF, $109.04 for Russell ETF
|
| Buffer level: | 90% of initial basket level
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| Pricing date: | March 24
|
| Settlement date: | March 31
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 2.075%
|
| Cusip: | 95001HHE4
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