New Issue: Wells Fargo sells $250,000 leveraged market-linked notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, April 4 – Wells Fargo Finance LLC priced $250,000 of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due April 1, 2021 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Wells Fargo & Co.

The payout at maturity will be par plus 120% of any gain in the lesser performing index, capped at par plus 23%.

If the lesser performing index falls but not beyond 20%, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline in the lesser performing index beyond the buffer.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo Finance LLC
Guarantor:	Wells Fargo & Co.
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$250,000
Maturity:	April 1, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 120% of any gain in lesser performing index, capped at par plus 23%; par if lesser performing index falls by up to 20%; otherwise, 1% loss for every 1% decline in lesser performing index beyond the buffer
Initial level:	2,818.46 for S&P, 1,522.231 for Russell
Buffer level:	2,244.296 for S&P, 1,217.7484 for Russell, 80% of initial level
Pricing date:	March 27
Settlement date:	April 1
Agent:	Wells Fargo Securities LLC
Fees:	1%
Cusip:	95001H4L2

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