Wells Fargo plans market-linked notes on S&P, Dow

New York, April 14 – Wells Fargo Finance LLC plans to price 0% market-linked securities due April 14, 2025 – principal-at-risk with leveraged upside participation and a fixed-percentage buffered downside – linked to the least performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Wells Fargo & Co.

If both indexes finish above their initial levels, the payout will be par plus 170% of the return of the lowest-performing index.

If the lowest-performing index declines, but not more than 10%, investors will receive par.

Otherwise, investors will be exposed to the losses of the worst-performing index beyond the 10% buffer.

Wells Fargo Securities LLC is the agent.

The Cusip is 95001HJ36.

The notes settled on Tuesday.

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