By Wendy Van Sickle
Columbus, Ohio, July 20 – Wells Fargo & Co. priced $1.21 million of market-linked securities due July 6, 2021 – autocallable with fixed percentage buffered downside 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 8.1% if the fund closes at or above its initial level on any annual review date.
The payout at maturity will be par unless the fund falls by more than 10%, in which case the payout will be par plus the return of the worst performing index with exposure to any losses beyond 10%.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market linked securities – autocallable with fixed percentage buffered downside Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $1,207,000
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| Maturity: | July 6, 2021
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless fund falls by more than 10%, in which case 1% loss per 1% decline beyond 10%
|
| Call: | At par plus an annual call premium of 8.1% if the fund closes at or above its initial level on any annual review date
|
| Initial level: | $75.94
|
| Downside threshold: | $68.346, 75% of initial level
|
| Pricing date: | June 29
|
| Settlement date: | July 5
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.825%
|
| Cusip: | 95001B4C5
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