New Issue: Wells Fargo prices $280,000 upside participation, contingent downside securities on S&P

By Wendy Van Sickle

Columbus, Ohio, Oct. 29 – Wells Fargo & Co. priced $280,000 of 0% market-linked upside participation and contingent downside securities due Oct. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 102.5% of the index return. Investors will receive par if the index declines by 40% or less and will be fully exposed to its loss if the index declines beyond 40%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked securities
Underlying index:	S&P 500 index
Amount:	$280,000
Maturity:	Oct. 30, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 102.5% of any index gain; par for losses up to 40%; full exposure to loss if index declines beyond 40%
Initial level:	2065.89
Pricing date:	Oct. 27
Settlement date:	Oct. 30
Agent:	Wells Fargo Securities LLC
Fees:	None
Cusip:	94986RZG9

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