By Sarah Lizee
Olympia, Wash., March 27 – Wells Fargo Finance LLC priced $2.5 million of 0% market-linked securities – leveraged upside participation and fixed percentage buffered downside due March 23, 2023 linked to the S&P 500 index and the Invesco QQQ Trust, Series 1, 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 135% of any gain in the lesser performing asset.
If the lesser performing asset falls but not beyond 15%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline in the lesser performing asset 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 and fixed percentage buffered downside
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| Underlying assets: | S&P 500 index and Invesco QQQ Trust, Series 1
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| Amount: | $2.5 million
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| Maturity: | March 23, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 135% of any gain in the lesser performing asset; if the lesser performing asset falls but not beyond 15%, par; 1% for each 1% decline in the lesser performing asset beyond 15%
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| Initial level: | 2,529.19 for index, $182.14 for ETF
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| Buffer level: | 2,149.8155 for index, $154.819 for ETF, 85% of initial level
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 0.6%
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| Cusip: | 95001HHB0
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