New Issue: Wells Fargo prices $120,000 market-linked notes tied to S&P 500

By Marisa Wong

Morgantown, W.Va., Dec. 8 – Wells Fargo & Co. priced $120,000 of 0% market-linked securities – upside participation and contingent downside due Nov. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.025 times any index gain.

Investors will receive par if the index falls by up to 40% and will be fully exposed to the decline from the initial level if it falls by more than 40%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked securities –upside participation and contingent downside
Underlying index:	S&P 500
Amount:	$120,000
Maturity:	Nov. 30, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.025 times any index gain; par if index falls by up to 40%; full exposure to any losses if index falls by more than 40%
Initial level:	2,089.14
Threshold level:	1,253.484, 60% of initial level
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agent:	Wells Fargo Securities LLC
Fees:	4%
Cusip:	94986RZX2

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