By Susanna Moon
Chicago, July 13 – Wells Fargo & Co. priced $540,000 of 0% market-linked securities – leveraged upside participation and contingent downside due July 5, 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, the iShares Russell 2000 ETF with a 15% weight, the iShares MSCI EAFE ETF with a 15% weight and the iShares MSCI Emerging Markets ETF with a 15% weight.
The payout at maturity will be par plus 120% of any basket gain.
Investors will receive par if the basket falls by up to 30% and will be fully exposed to any losses if the basket falls by more than the contingent downside.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market-linked securities – leveraged upside participation and contingent downside
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| Underlying basket: | SPDR S&P 500 ETF Trust (55% weight), iShares Russell 2000 ETF (15% weight), iShares MSCI EAFE ETF (15% weight) and iShares MSCI Emerging Markets ETF (15% weight)
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| Amount: | $540,000
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| Maturity: | July 5, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 120% of any basket gain; par if basket falls by up to 30%; 1% loss for each 1% decline if it falls below threshold
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| Initial levels: | $241.35 for SPDR S&P, $141.14 for iShares Russell, $65.16 for iShares MSCI EAFE and $41.20 for iShares MSCI EM
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| Threshold: | 70% of initial level
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| Pricing date: | June 29
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| Settlement date: | July 5
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 2.62%
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| Cusip: | 94986R6Z9
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