By Sarah Lizee
Olympia, Wash., Sept. 13 – Wells Fargo Finance LLC priced $2 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 13, 2022 linked to an ETF basket, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
The basket components are the SPDR S&P 500 ETF Trust with a 40% weight, the iShares MSCI EAFE ETF with a 30% weight, the iShares MSCI Emerging Markets ETF with a 15% weight, the SPDR S&P MidCap 400 ETF Trust with a 10% weight and the iShares Russell 2000 ETF with a 5% weight.
The payout at maturity will be par plus 125% of any basket gain, subject to a 18% maximum gain.
Investors will receive par if the basket falls by up to 20% and will lose 1% for every 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 with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying basket: | SPDR S&P 500 ETF Trust with a 40% weight, iShares MSCI EAFE ETF with a 30% weight, iShares MSCI Emerging Markets ETF with a 15% weight, SPDR S&P MidCap 400 ETF Trust with a 10% weight and iShares Russell 2000 ETF with a 5% weight
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Amount: | $2 million
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Maturity: | Sept. 13, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 125% of any basket gain, subject to 18% maximum gain; par if the basket falls by up to 20%; 1% loss for every 1% decline beyond 20%
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Initial levels: | $298.05 for S&P, $64.53 for EAFE, $41.25 for EM, $348.82 for MidCap, $348.82 for Russell
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Pricing date: | Sept. 6
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Settlement date: | Sept. 13
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.575%
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Cusip: | 95001HAD3
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