New Issue: Wells Fargo prices $1.73 million of market-linked notes with cap on S&P 500

By Wendy Van Sickle

Columbus, Ohio, July 20 – Wells Fargo & Co. priced $1.73 million of 0% market-linked notes with leveraged upside participation to a cap and contingent downside due Jan. 6, 2022 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any index gain, up to a maximum payout of par plus 38%.

Investors will receive par if the index falls by up to 30% and 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:	Market-linked notes with leveraged upside participation to a cap and contingent downside
Underlying index:	S&P 500
Amount:	$1,725,000
Maturity:	Jan. 6, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any index gain, with payout capped at par plus 38%; par if index falls by up to 30%; full exposure to losses if index falls by more than 30%
Initial level:	2,718.37
Pricing date:	June 29
Settlement date:	July 5
Agents:	Wells Fargo Securities, LLC
Fees:	2.075%
Cusip:	95001B4G6

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