By Wendy Van Sickle
Columbus, Ohio, Aug. 6 – Wells Fargo Finance LLC priced $6.75 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 7, 2022 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
The payout at maturity will be par plus 1.5 times any gain in the ETF, up to a maximum payout of par plus 21%.
If the ETF falls by up to 10%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the ETF beyond 10%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying ETF: | SPDR S&P 500 ETF trust
|
| Amount: | $6,745,000
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| Maturity: | Feb. 7, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any gain in the ETF, up to maximum payout of par plus 21%; if the ETF falls by up to 10%, par; otherwise, 1% loss for every 1% decline of the ETF beyond 10%
|
| Initial level: | $297.43
|
| Threshold price: | $267.687, 90% of initial level
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 7
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.825%
|
| Cusip: | 95001H6D8
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