By Sarah Lizee
Olympia, Wash., Sept. 9 – Wells Fargo Finance LLC priced $3.15 million of 0% market-linked securities – leveraged upside participation to a cap and fixed-percentage buffered downside due March 9, 2023 linked to the Energy Select Sector SPDR Fund, 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 150% of any gain in the fund, capped at par plus 44%.
If the fund falls but not beyond 15%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline beyond the buffer.
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 – leveraged upside participation to a cap and fixed-percentage buffered downside
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Underlying fund: | Energy Select Sector SPDR Fund
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Amount: | $3,148,000
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Maturity: | March 9, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any gain fund, capped at par plus 44%; par if fund falls by up to 15%; otherwise, 1% loss for every 1% decline beyond the buffer
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Initial level: | $57.48
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Buffer level: | $48.858, 85% of initial level
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Pricing date: | Aug. 30
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Settlement date: | Sept. 9
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.075%
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Cusip: | 95001H7F2
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