New Issue: Wells Fargo sells $174,000 buffered enhanced return notes on iShares EM

By Marisa Wong

Morgantown, W.Va., Jan. 23 – Wells Fargo & Co. priced $174,000 of buffered enhanced return securities with capped upside and buffered downside due Sept. 20, 2018 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par plus 160% of the fund return, subject to a maximum payment of par plus 26.4%. Investors will receive par if the fund falls by up to 10% and lose 1.1111% for every 1% decline in the fund beyond 10%.

The agent is Wells Fargo Securities, LLC.

Issuer:	Wells Fargo & Co.
Issue:	Buffered enhanced return securities with capped upside and buffered downside
Underlying fund:	iShares MSCI Emerging Markets ETF
Amount:	$174,000
Maturity:	Sept. 20, 2018
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If fund return is positive, par plus 160% of fund return, subject to maximum payment of par plus 26.4%; par if fund falls by up to 10%; 1.1111% loss for every 1% decline in fund beyond 10%
Initial fund level:	$36.66
Buffer level:	$32.994, 90% of initial level
Pricing date:	Jan. 17
Settlement date:	Jan. 24
Agent:	Wells Fargo Securities, LLC
Fees:	None
Cusip:	94986R3J8

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