New Issue: Wells Fargo prices $38.41 million leveraged buffered notes tied to S&P

By Susanna Moon

Chicago, Jan. 8 – Wells Fargo & Co. priced $38.41 million of 0% notes due Dec. 22, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par of $10 plus 1.25 times the index gain up to a maximum return of 65.5%.

Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond the buffer.

BofA Merrill Lynch is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Notes
Underlying index:	S&P 500
Amount:	$38,408,560
Maturity:	Dec. 22, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.25 times any index gain, capped at 65.5%; par if index falls by up to 20%; 1% loss per 1% drop beyond 20%
Initial level:	2,467.42
Pricing date:	Dec. 20
Settlement date:	Dec. 28
Underwriter:	BofA Merrill Lynch
Fees:	2.5%
Cusip:	94988U268

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