By Marisa Wong
Morgantown, W.Va., June 12 – Wells Fargo & Co. priced $3.24 million of 0% market-linked securities with leveraged upside participation and contingent downside due June 6, 2022 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 ETF trust with a 55% weight, iShares Russell 2000 ETF with a 15% weight, iShares MSCI EAFE ETF with a 15% weight and iShares MSCI Emerging Markets ETF with a 15% weight.
The payout at maturity will be par plus 126% of any basket gain.
Investors will receive par if the basket falls by up to 30% and will lose 1% for each 1% decline from the initial level if the basket falls by more than 30%.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market-linked securities with leveraged upside participation and contingent downside
|
| Underlying basket: | SPDR S&P 500 ETF trust with a 55% weight and iShares Russell 2000 ETF, iShares MSCI EAFE ETF and iShares MSCI Emerging Markets ETF each with a 15% weight
|
| Amount: | $3,235,000
|
| Maturity: | June 6, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 126% of any basket gain; par if the basket falls by up to 30%; 1% loss for each 1% decline from the initial level if the basket falls by more than 30%
|
| Initial prices: | $241.50 for SPDR S&P, $136.46 for iShares Russell, $65.98 for iShares EAFE and $41.52 for iShares EM
|
| Pricing date: | May 30
|
| Settlement date: | June 6
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 2.62%
|
| Cusip: | 94986R5Z0
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