By Marisa Wong
Morgantown, W.Va., Dec. 11 – Wells Fargo & Co. priced $7.63 million of 0% market linked securities – autocallable with fixed percentage downside due Dec. 7, 2020 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 8% per year if the fund closes at or above its initial price on any annual call date.
The payout at maturity will be par unless the fund finishes below its 90% threshold, in which case investors will lose 1% for every 1% fund decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market linked securities – autocallable with fixed percentage downside
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| Underlying fund: | Energy Select Sector SPDR fund
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| Amount: | $7.63 million
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| Maturity: | Dec. 7, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless the fund falls by more than 10%, in which case 1% loss for every 1% decline beyond 10%
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| Call: | At par plus a call premium of 8% per year if the fund closes at or above its initial price on any annual call date
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| Initial price: | $69.10
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| Threshold: | $62.19, 90% of initial price
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 7
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 1.825%
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| Cusip: | 95000E3X5
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