New Issue: Wells Fargo sells $1.78 million equity index-linked notes on S&P 500

By Sarah Lizee

Olympia, Wash., June 1 – Wells Fargo & Co. priced $1.78 million of 0% equity index-linked notes with leveraged upside participation to a cap and contingent downside due Dec. 6, 2021 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 150% of any index gain, up to a maximum of $1,360 per $1,000 note. If the index falls by up to 30%, the payout will be par. Investors will be fully exposed to losses if the index falls by more than 30%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Equity index-linked notes
Underlying index:	S&P 500
Amount:	$1,779,000
Maturity:	Dec. 6, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain, up to a maximum of $1,360 per $1,000 note; par if index falls by up to 30%; exposure to losses beyond 30%
Initial level:	2724.01
Pricing date:	May 30
Settlement date:	June 6
Underwriter:	Wells Fargo Securities, LLC
Fees:	2.075%
Cusip:	95001B3M4

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