Wells Fargo plans capped market-linked notes on EM ETF

By Wendy Van Sickle

Columbus, Ohio, Feb. 24 – Wells Fargo Finance LLC plans to price 0% market-linked notes with upside participation to a cap and partial principal return at maturity due Feb. 28, 2022 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Wells Fargo & Co.

The payout at maturity will be par plus any ETF gain, capped at par plus 31%.

Investors will be exposed to the first 15% of any decline in the ETF, with a minimum payout of 85% of par.

Wells Fargo Securities, LLC is the agent.

The notes will price Feb. 25.

The Cusip number is 95001HFJ5.

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