By Sarah Lizee
Olympia, Wash., May 15 – Wells Fargo Finance LLC priced $1.38 million of market-linked securities due May 8, 2023 – contingent fixed return and contingent downside linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Wells Fargo & Co.
If the index gains or finishes flat, the payout will be par plus 28.5%.
If the index declines by up to 30%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the index from its initial level.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo Finance LLC
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Guarantor: | Wells Fargo & Co.
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Issue: | Market-linked securities – contingent fixed return and contingent downside
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Underlying index: | S&P 500
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Amount: | $1,375,000
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Maturity: | May 8, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index gains or finishes flat, par plus 28.5%; if the index declines by up to 30%, par; otherwise, investors will be fully exposed to the decline of the index from its initial level
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Initial level: | 2,943.03
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Threshold level: | 2,060.121, 30% of initial level
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Pricing date: | April 29
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Settlement date: | May 6
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.325%
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Cusip: | 95001H4E8
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