By Sarah Lizee
Olympia, Wash., Sept. 9 – Wells Fargo Finance LLC priced $3.63 million of market-linked securities due Sept. 2, 2021 with contingent upside participation and contingent absolute return and principal return at maturity with daily knock-out monitoring 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.
A knock-out event will occur if the closing level of the index on any trading day is greater than the upper knock-out level of 118.75% of the starting level or less than the lower knock-out level of 81.25% of the starting level.
If a knock-out event has not occurred and the ending level of the index is greater than or equal to the starting level, the payout at maturity will be par plus the percentage increase of the index from the starting level.
If a knock-out event has not occurred and the ending level of the index is less than the starting level, the payout will be par plus the absolute value of the percentage decline of the index from the starting level.
If a knock-out event has occurred, the payout will be par plus a knock-out return of 2%.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Market-linked securities with contingent upside participation and contingent absolute return and principal return at maturity with daily knock-out monitoring
|
| Underlying index: | S&P 500
|
| Amount: | $3,625,000
|
| Maturity: | Sept. 2, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If a knock-out event has not occurred and the ending level of the index is greater than or equal to the starting level, par plus the gain of the index; if a knock-out event has not occurred and the ending level of the index is less than the starting level, par plus the absolute value of the return of the index; if a knock-out event has occurred, par plus 2%
|
| Knock-out event: | Occurs if the closing level of the index on any trading day is greater than the upper knock-out level of 118.75% of the starting level or less than the lower knock-out level of 81.25% of the starting level
|
| Initial level: | 2,926.46
|
| Upper knock-out level: | 3,475.17125, 118.75% of initial level
|
| Lower knock-out level: | 2,377.74875, 81.25% of initial level
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 5
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | None
|
| Cusip: | 95001HAH4
|
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