By Wendy Van Sickle
Columbus, Ohio, March 7 – Wells Fargo & Co. priced $734,000 of 0% market linked securities – autocallable with fixed percentage downside due March 5, 2021 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 an annual call premium of 7.9% if the fund closes at or above its initial level 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 be exposed to any losses beyond the buffer.
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: | $734,000
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Maturity: | March 5, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless 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 7.9% per year if fund closes at or above initial level on any annual call date
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Initial level: | $72.47
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Buffer price: | $62.289, 90% of initial price
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Pricing date: | Feb. 26
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Settlement date: | March 5
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.825%
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Cusip: | 95001B2C7
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