New Issue: Wells Fargo sells $375,000 market-tied leveraged notes on SPDR S&P 500

By Susanna Moon

Chicago, July 13 – Wells Fargo & Co. priced $ 375,000 of 0% market-linked securities – leveraged upside participation to a cap and contingent downside due Jan. 5, 2021 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 140% of any fund gain, up to a maximum return of 31%.

Investors will receive par if the fund falls by up to 30% and will be fully exposed to any losses if the fund falls by more than the contingent downside.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked securities – leveraged upside participation and contingent downside
Underlying fund:	SPDR S&P 500 ETF Trust
Amount:	$375,000
Maturity:	Jan. 5, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 140% of any fund gain, capped at 31%; par if the fund falls by up to 30%; 1% loss for each 1% decline if it falls below threshold
Initial price:	$241.35
Threshold:	$168.945, 70% of initial level
Pricing date:	June 29
Settlement date:	July 5
Agent:	Wells Fargo Securities LLC
Fees:	2.075%
Cusip:	94986R6L0

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