By Wendy Van Sickle
Columbus, Ohio, March 2 – Wells Fargo Finance LLC priced $1.55 million of 0% market-linked securities with leveraged upside participation to a cap and 1-to-1 downside exposure due April 30, 2021 linked to a basket three financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Citigroup Inc., Morgan Stanley and JPMorgan Chase & Co., each with a 33.33% weight.
If the index return is positive, the payout at maturity will be par plus 300% of the gain, capped at a 22.5% maximum gain.
If the index falls, investors will lose 1% for every 1% decline.
The notes are guaranteed by Wells Fargo & Co.
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 1-to-1 downside exposure
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| Underlying stocks: | Citigroup Inc., Morgan Stanley and JPMorgan Chase & Co., each with a 33.33% weight
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| Amount: | $1.55 million
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| Maturity: | April 30, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index return is positive, par plus 300% of the gain up to a 22.5% maximum gain; if the index falls, 1% loss for every 1% drop
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| Initial level: | $68.18 for Citigroup, $47.24 for Morgan Stanley, $126.64 for JPMorgan
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| Pricing date: | Feb. 26
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| Settlement date: | Feb. 28
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| Agent: | Wells Fargo Securities, LLC
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| Fees: | 2.25% Cusip: | 95001HFK2
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