New Issue: Wells Fargo prices $735,000 market-linked notes on Russell 2000, PowerShares QQQ

By Wendy Van Sickle

Columbus, Ohio, Jan. 31 – Wells Fargo & Co. priced $735,000 of 0% market-linked securities – leveraged upside participation to a cap and contingent downside due Jan. 28, 2021 linked to the lesser performing of the Russell 2000 index and the PowerShares QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 350% of any gain in the lesser performing asset, subject to a maximum return of 35%.

If the lesser performing asset falls by up to 40%, the payout will be par.

If the lesser performing asset falls by more than 40%, investors will be fully exposed to the decline of that lesser performing asset.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked securities – leveraged upside participation to a cap and contingent downside
Underlying assets:	PowerShares QQQ Trust, Series 1 and Russell 2000
Amount:	$735,000
Maturity:	Jan. 28, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 3.5 times any gain of laggard asset, subject to 35% maximum return; par if laggard asset falls by up to 40%; full exposure to decline of laggard asset if it falls by more than 40%
Initial levels:	$168.41 for PowerShares, 1,599.611 for Russell
Thresholds:	$101.046 for PowerShares, 959.7666 for Russell; 60% of initial levels
Pricing date:	Jan. 24
Settlement date:	Jan. 29
Agent:	Wells Fargo Securities LLC
Fees:	1.25%
Cusip:	95000E5L9

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