By Wendy Van Sickle
Columbus, Ohio, Sept. 1 – Wells Fargo & Co. priced $6 million of 5.06% market-linked securities – autocallable with fixed coupon and contingent downside due Sept. 2, 2021, linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes will be called at par if index closes above initial rate on any semiannual call date after two years.
The payout at maturity will be par unless the index finishes below its 65% threshold level, in which case the payout will be par plus the return with full exposure to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market-linked securities – autocallable with fixed coupon and contingent downside
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| Underlying index: | S&P 500 index
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| Amount: | $6 million
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| Maturity: | Sept. 2, 2021
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| Coupon: | 5.06% per year, payable semiannually
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| Price: | Par
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| Call: | At par if index closes above initial rate on any semiannual call date after two years
|
| Payout at maturity: | Par unless index falls by more than 35%, in which case full exposure to any losses
|
| Initial level: | 2,176.12
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| Threshold level: | 1,414.478, 65% of initial level
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| Pricing date: | Aug. 30
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| Settlement date: | Sept. 2
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| Agent: | Wells Fargo Securities LLC
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| Fees: | None
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| Cusip: | 94986RU66
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