By Wendy Van Sickle
Columbus, Ohio, Aug. 6 – Wells Fargo Finance LLC priced $745of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Aug. 7, 2024 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR Dow Jones Industrial Average ETF Trust with a 60% weight; the SPDR S&P MidCap 400 ETF Trust with a 20% weight and the iShares Russell 2000 ETF with a 20% weight.
The notes are guaranteed by Wells Fargo & Co.
The payout at maturity will be par plus 1.5 times any gain in the basket, up to a maximum payout of par plus 50%.
If the basket falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the basket beyond 15%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
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| Guarantor: | Wells Fargo & Co.
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| Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying basket: | SPDR Dow Jones Industrial Average ETF Trust (60% weight), SPDR S&P MidCap 400 ETF Trust (20% weight) and iShares Russell 2000 ETF (20% weight)
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| Amount: | $745,000
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| Maturity: | Aug. 7, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any gain in the basket, up to maximum payout of par plus 50%; if the basket falls by up to 15%, par; otherwise, 1% loss for every 1% decline of the basket beyond 15%
|
| Initial levels: | $268.52 for Dow, $357.92 for MidCap 400, $156.56 for Russell
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| Pricing date: | July 31
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| Settlement date: | Aug. 7
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 2.62%
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| Cusip: | 95001H6F3
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