By Sarah Lizee
Olympia, Wash., Oct. 3 – Wells Fargo Finance LLC priced $7.66 million of 0% Accelerated Return Notes due Nov. 20, 2020 linked to a basket of financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Citigroup Inc. with a 33.33% weight, JPMorgan Chase & Co. with a 33.33% weight and Morgan Stanley with a 33.33% weight.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 25.2%. Investors will be exposed to any basket decline.
The notes are guaranteed by Wells Fargo & Co.
BofA Merrill Lynch is the underwriter.
Issuer: | Wells Fargo Finance LLC
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Guarantor: | Wells Fargo & Co.
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Issue: | Accelerated Return Notes
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Underlying stocks: | Citigroup Inc. with a 33.33% weight, JPMorgan Chase & Co. with a 33.33% weight and Morgan Stanley with a 33.33% weight
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Amount: | $7,660,570
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Maturity: | Nov. 20, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any basket gain, capped at 25.2%; exposure to any basket decline
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Initial share prices: | $69.11 for Citi, $117.03 for JPM, $42.62 for Morgan Stanley
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Pricing date: | Sept. 26
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Settlement date: | Oct. 3
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 95002W834
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