By Wendy Van Sickle
Columbus, Ohio, March 9 – Wells Fargo Finance LLC priced $4.36 million of 0% market-linked securities due March 6, 2024 – autocallable with fixed percentage buffered downside linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 6.7% a year if the index closes at or above its initial level on any annual observation date.
If the notes are not called, payout at maturity will be par unless the index finishes below its buffer level, 90% of its initial level, in which case investors will be exposed to losses beyond 10%.
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 – autocallable with fixed percentage buffered downside
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| Underlying index: | Dow Jones industrial average
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| Amount: | $4,363,000
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| Maturity: | March 6, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If notes are not called and index finishes above buffer, par; otherwise, 1% loss for each 1% decline beyond 10%
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| Call: | At par plus 6.7% a year if index closes at or above its initial level on any annual determination date
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| Initial level: | 25,409.36
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| Buffer level: | 22,868.424, 90% of initial level
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| Pricing date: | Feb. 28
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| Settlement date: | March 6
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 1.825%
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| Cusip: | 22551HF55
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