New Issue: Wells Fargo sells $16.84 million market-tied contingent coupon callable notes on S&P

By Wendy Van Sickle

Columbus, Ohio, July 28 – Wells Fargo & Co. priced $16.84 million of 0% market-linked callable securities with contingent coupon and contingent downside due July 31, 2031 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 7.8% if the index closes above its 70% coupon threshold level on the observation date for that month.

The notes are callable at par plus the contingent coupon on any interest payment date after one year.

The payout at maturity will be par plus the final coupon unless the index closes below the 50% downside threshold level, in which case investors will be fully exposed to any losses.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked securities – callable contingent coupon and contingent downside
Underlying index:	S&P 500
Amount:	$16,837,000
Maturity:	July 31, 2031
Coupon:	7.8%, payable monthly if index closes above its 70% coupon threshold on observation date for that month
Price:	Par
Payout at maturity:	Par unless index closes below 50% downside threshold, in which case full exposure to any losses
Initial level:	2,169.18
Coupon threshold:	1,518.426, 70% of initial level
Downside threshold:	1,084.59, 50% of initial level
Call option:	At par on any coupon payment date after one year
Pricing date:	July 26
Settlement date:	July 29
Agent:	Wells Fargo Securities LLC
Fees:	3%
Cusip:	94986RQ38

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