By Wendy Van Sickle
Columbus, Ohio, Aug. 15 – Wells Fargo & Co. priced $1.74 million of 0% market-linked securities due Aug. 9, 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 annualized premium of 8.35% if the fund closes at or above its initial level on an annual observation date.
The payout at maturity will be par unless the fund finishes below its 90% downside threshold, in which case investors will be exposed to losses beyond 10%.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market linked securities – autocallable with fixed-percentage buffered downside
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| Underlying indexes: | Energy Select Sector SPDR fund
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| Amount: | $1,738,000
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| Maturity: | Aug. 9, 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 10%, in which case 1% loss per 1% decline beyond 10%
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| Call: | At par plus 8.35% per year if fund closes above initial level on an annual observation date
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| Initial level: | $77.12
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| Threshold: | $69.408, 90% of initial level
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| Pricing date: | July 31
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| Settlement date: | Aug. 7
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 1.825%
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| Cusip: | 95001B4X9
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