By Wendy Van Sickle
Columbus, Ohio, June 21 – Wells Fargo Finance LLC priced $2 million of 0% market-linked securities – upside participation to a cap and fixed-percentage buffered downside due June 23, 2022 linked to 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 any gain in the index, up to par plus 25.5%.
If the index falls but not beyond 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline beyond 20%.
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 – upside participation to a cap and fixed-percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $2 million
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Maturity: | June 23, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain index, up to par plus 25.5%; par if index falls by up to 20%; otherwise, 1% loss for every 1% decline beyond 20%
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Initial level: | 2,926.46
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Barrier level: | 2,341.168, 80% of initial level
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Pricing date: | June 19
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Settlement date: | June 24
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.85%
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Cusip: | 95001H5Z0
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