By Wendy Van Sickle
Columbus, Ohio, Feb. 28 – Wells Fargo Finance LLC priced $500,000 of 0% market-linked securities – partial upside participation and fixed percentage buffered downside due March 1, 2023 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 66% of any gain in the index.
If the index falls but not beyond 30%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline beyond 30%.
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 – partial upside participation and fixed percentage buffered downside
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| Underlying index: | S&P 500
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| Amount: | $500,000
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| Maturity: | March 1, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 66% of any gain index; par if index falls by up to buffer; otherwise, 1% loss for every 1% decline beyond buffer
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| Initial level: | 3,337.75
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| Buffer level: | 2,336.425, 70% of initial level
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| Pricing date: | Feb. 24
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| Settlement date: | Feb. 27
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 0.6%
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| Cusip: | 95001HFM8
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