New Issue: Wells Fargo prices $3.18 million market-linked notes tied to S&P 500

By Susanna Moon

Chicago, Aug. 4 – Wells Fargo & Co. priced $3.18 million of 0% market-linked securities – leveraged upside participation to a cap and buffered downside with multiplier due Aug. 3, 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 1.3 times any index gain, up to a maximum return of 75%.

Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked securities – leveraged upside participation to a cap and buffered downside with multiplier
Underlying index:	S&P 500
Amount:	$3.18 million
Maturity:	Aug. 3, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 130% of any index gain, capped at 75%; par if index falls by up to 20%; otherwise, 1.25% loss per 1% drop beyond 20%
Initial level:	2,173.60
Threshold level:	1,738.88, 80% of initial level
Pricing date:	July 29
Settlement date:	Aug. 3
Agent:	Wells Fargo Securities LLC
Fees:	0.25%
Cusip:	94986RR78

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