New Issue: Wells Fargo prices $2.8 million contingent coupon access securities linked to S&P 500

By Toni Weeks

San Diego, Sept. 27 - Wells Fargo & Co. priced $2.8 million of access securities with contingent coupon and contingent downside due September 30, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon of 7% if the index closes at or above the 60% trigger level on the observation date for that month.

If the final index level is at least 60% of the initial level, the payout at maturity will be par.

Otherwise, investors will be fully exposed to any losses.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Access securities with contingent coupon and contingent downside
Underlying index:	S&P 500
Amount:	$2.8 million
Maturity:	Sept. 30, 2027
Coupon:	7%, annualized, if index closes at or above threshold level that month
Price:	Par
Payout at maturity:	If index falls by 40% or less, par; otherwise, full exposure to losses
Initial level:	1,441.59
Threshold level:	864.95, or 60% of initial level
Pricing date:	Sept. 25
Settlement date:	Sept. 28
Agent:	Wells Fargo Securities, LLC
Fees:	3%
Cusip:	94986RLJ8

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