By Sarah Lizee
Olympia, Wash., Dec. 3 – Wells Fargo Finance LLC priced $1 million of 0% market-linked securities with upside participation to a cap and a fixed percentage buffered downside due Nov. 22, 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.
The payout at maturity will be par plus any gain in the index, subject to a maximum return of par plus 15.5%.
If the index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the index 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 – upside participation to a cap and fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $1 million
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Maturity: | Nov. 22, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain in index, subject to maximum return of par plus 15.5%; if index falls by up to 20%, par; otherwise, 1% loss for every 1% decline of index beyond 20%
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Initial level: | 3,122.03
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Threshold level: | 2,497.624, 80% of initial level
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Pricing date: | Nov. 18
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Settlement date: | Nov. 21
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Agent: | Wells Fargo Securities LLC
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Fees: | 0.6%
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Cusip: | 95001HCL3
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