By Tali Rackner
Norfolk, Va., July 2 – Wells Fargo & Co. priced $3,227,000 of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 6, 2021 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum payout of $1,640 per $1,000 principal amount.
Investors will receive par if the fund decreases by up to 20% and will lose 1% for every 1% drop beyond the 20% buffer.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market-linked securities
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| Underlying fund: | SPDR S&P 500 ETF trust
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| Amount: | $3,227,000
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| Maturity: | Jan. 6, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of any fund gain, capped at 64%; par for losses up to 20%; 1% loss for every 1% decline beyond buffer
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| Initial share price: | $205.85
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| Threshold price: | $164.68, 80% of initial share price
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 1.62%
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| Cusip: | 94986RXJ5
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