By Wendy Van Sickle
Columbus, Ohio, Aug. 29 – Wells Fargo Finance LLC priced $3.11 million of 0% market-linked securities – contingent upside participation and contingent absolute return with principal return at maturity (daily knock-out monitoring) due Aug. 31, 2021 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.
A knock-out event will occur if on any day during the life of the notes the index closes above 119% of its initial level or below 81% of its initial level.
If a knock-out event has not occurred, the payout at maturity will be par plus the absolute value of the index return.
If a knock-out even has occurred, the payout will be par plus 2%.
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 upside participation and contingent absolute return with principal return at maturity (daily knock-out monitoring)
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Underlying index: | S&P 500
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Amount: | $3,111,000
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Maturity: | Aug. 31, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2% if a knock-out event has occurred; par plus absolute value of index return if knock-out event has not occurred
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Knock-out event: | On any day during the life of the notes the index closes above 119% of its initial level or below 81% of its initial level
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Initial level: | 2,869.16
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Upper knock-out level: | 3,414.3004, 119% of initial level
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Lower knock-out level: | 2,324.0196, 81% of initial level
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Pricing date: | Aug. 27
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Settlement date: | Aug. 30
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Agent: | Wells Fargo Securities LLC
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Fees: | 0.6%
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Cusip: | 95001HA76
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