New Issue: Wells Fargo prices $5.86 million leveraged market-linked notes on S&P

By Susanna Moon

Chicago, May 16 – Wells Fargo & Co. priced $5.86 million of 0% market-linked notes with leveraged upside participation and buffered downside with multiplier due May 18, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 107% times any index gain.

Investors will receive par if the index finishes falls by up to 50% and will lose 2% for each 1% decline beyond the 50% downside threshold.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked notes with leveraged upside participation and buffered downside with multiplier
Underlying index:	S&P 500 index
Amount:	$5,857,000
Maturity:	May 18, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.07 times any index gain; par if index falls by up to 50%; 2% loss for every 1% drop beyond 50%
Initial level:	2,672.63
Downside threshold:	1,336.315, 50% of initial level
Pricing date:	May 7
Settlement date:	May 17
Agent:	Wells Fargo Securities LLC
Fees:	0.75%
Cusip:	95001B3S1

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