By Sarah Lizee
Olympia, Wash., May 2 – Wells Fargo Finance LLC priced $1.09 million of market-linked securities due May 8, 2023 – autocallable with fixed percentage buffered downside linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Wells Fargo & Co.
The notes will be called at par plus an annual premium of 7.5% if the fund closes at or above its initial level on any annual observation date.
The payout at maturity will be par unless the fund finishes below 90% of its initial level, in which case the payout will be par plus the return of the fund with exposure to any losses beyond 10%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Market linked securities – autocallable with fixed percentage buffered downside
|
| Underlying fund: | iShares MSCI Emerging Markets ETF
|
| Amount: | $1,085,000
|
| Maturity: | May 8, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless the fund finishes below 90% of its initial level, in which case the payout will be par plus the return of the fund with exposure to any losses beyond 10%
|
| Call: | At par plus an annual premium of 7.5% if the fund closes at or above its initial level on any annual observation date
|
| Initial level: | $43.93
|
| Threshold level: | $39.537, 90% of initial level
|
| Pricing date: | April 30
|
| Settlement date: | May 7
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.825%
|
| Cusip: | 95001H4D0
|
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