New Issue: Wells Fargo prices $4.09 million contingent minimum return notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 21 – Wells Fargo & Co. priced $4.09 million of 0% market-linked securities due April 26, 2021 with upside participation, contingent minimum return and contingent downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus the greater of the index return and 40%. If the final index level is less than the initial level but greater than or equal to 70% of the initial index level, the payout will be par. Otherwise, investors will be fully exposed to the index’s decline from its initial level.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked securities with upside participation, contingent minimum return and contingent downside
Underlying index:	S&P 500
Amount:	$4,089,000
Maturity:	April 26, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than or equal to initial index level, par plus greater of index return and 40%; if final index level is less than initial level but greater than or equal to threshold level, par; if final index level is less than threshold level, full exposure to index’s decline from initial level
Initial index level:	2,081.18
Threshold level:	1,456.826, 70% of initial level
Pricing date:	April 17
Settlement date:	April 24
Underwriter:	Wells Fargo Securities, LLC
Fees:	3.25%
Cusip:	94986RWN7

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