By Tali Rackner
Norfolk, Va., Nov. 4 – Wells Fargo & Co. priced $1.11 million of market-linked securities – callable with contingent coupon and contingent downside Oct. 30, 2026 linked to the least performing of the S&P 500 index and 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 8.05% if each index closes at or above its coupon threshold level, 70% of its initial level, on the observation date for that quarter.
The notes will be callable at par after one year.
The payout at maturity will be par unless either index finishes below its 50% downside threshold level, in which case the payout will be par plus the return of the worst-performing index with one-to-one exposure to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market-linked securities – callable with contingent coupon and contingent downside
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| Underlying indexes: | S&P 500 and Euro Stoxx 50
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| Amount: | $1,108,000
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| Maturity: | Oct. 30, 2026
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| Coupon: | 8.05% annualized, payable quarterly if each index closes at or above threshold level on observation date for that quarter
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| Price: | Par
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| Call: | Callable at par after one year
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| Payout at maturity: | Par unless either index falls by more than 50%, in which case full exposure to any losses of the lesser performing index
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| Initial levels: | 2,139.43 for S&P and 1,204.749 for Russell
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| Coupon threshold levels: | 1,497.601 for S&P and 843.3243 for Russell; 70% of initial levels
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| Downside threshold levels: | 1,069.715 for S&P and 602.3745 for Russell; 50% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 4.375%
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| Cusip: | 94986RX71
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