By Wendy Van Sickle
Columbus, Ohio, July 23 – Wells Fargo & Co. priced $630,000 of 0% market-linked securities – autocallable with contingent downside due July 6, 2021 linked to the iShares MSCI Brazil exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
After six months, the notes will be called at par plus a 15% annualized call premium if the fund closes at or above its initial price on any semiannual observation date prior to maturity.
The payout at maturity will be par unless the fund finishes below its 60% threshold, in which case investors will be fully exposed to the decline below the initial price.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market linked securities – autocallable with contingent downside
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| Underlying fund: | iShares MSCI Brazil exchange-traded fund
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| Amount: | $630,000
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| Maturity: | July 6, 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 40%, in which case 1% loss for every 1% decline
|
| Call: | At par plus 15% annualized premium if fund closes at or above initial level on any semiannual calculation date
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| Initial level: | $32.05
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| Threshold price: | $19.23, 60% of initial price
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| Pricing date: | June 29
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| Settlement date: | July 5
|
| Agent: | Wells Fargo Securities LLC
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| Fees: | 1.575%
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| Cusip: | 95001B4P6
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