New Issue: Wells Fargo prices $1.57 million access securities tied to Russell 2000

By Susanna Moon

Chicago, Feb. 23 – Wells Fargo & Co. priced $1.57 million of access securities with contingent coupon and contingent downside due Feb. 28, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.2% if the index closes at or above the 70% coupon barrier level on the observation date for that quarter.

The payout at maturity will be par unless the index closes below the 70% trigger level, in which case 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:	Russell 2000
Amount:	$1,572,000
Maturity:	Feb. 28, 2022
Coupon:	7.2% per year, payable quarterly if index closes at or above coupon barrier level on review date for that quarter
Price:	Par
Payout at maturity:	Par if the index closes at or above 70% of the initial level; otherwise, exposure to losses
Initial level:	1,010.011
Trigger level:	707.0077, 70% of initial level
Pricing date:	Feb. 19
Settlement date:	Feb. 26
Agent:	Wells Fargo Securities, LLC
Fees:	3.25%
Cusip:	94986RE98

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