New Issue: Wells Fargo sells $1.92 million leveraged market-tied notes on EM fund

By Susanna Moon

Chicago, Nov. 14 – Wells Fargo & Co. priced $1.92 million of 0% market linked securities – leveraged upside participation to a cap and contingent downside due Nov. 8, 2021 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any fund gain, up to a maximum return of 45%.

Investors will receive par if the fund falls by up to 25% and will be fully exposed to any losses if the fund finishes below the contingent buffer.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market linked securities – leveraged upside participation to a cap and contingent downside
Underlying fund:	iShares MSCI Emerging Markets ETF
Amount:	$1,919,000
Maturity:	Nov. 8, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any fund gain, capped at 45%; par if index falls by up to 25%; otherwise, 1% loss per 1% decline
Initial level:	$38.74
Barrier level:	$29.055, 75% of initial level
Pricing date:	Oct. 30
Settlement date:	Nov. 6
Agent:	Wells Fargo Securities LLC
Fees:	2.075%
Cusip:	95001B7L2

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