New Issue: Wells Fargo sells $1 million leveraged market-linked notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., March 16 – Wells Fargo Finance LLC priced $1 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 9, 2022 linked to the Russell 2000 index and 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 150% of any gain in the lesser performing index, capped at par plus 34.5%.

If the lesser performing index falls but not beyond 15%, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline in the lesser performing index beyond 15%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo Finance LLC
Guarantor:	Wells Fargo & Co.
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$1 million
Maturity:	Sept. 9, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any gain in the lesser performing index, capped at par plus 34.5%; if the lesser performing index falls but not beyond 15%, par; 1% for each 1% decline in the lesser performing index beyond 15%
Initial level:	3,023.94 for S&P, 1,478.824 for Russell
Buffer level:	2,570.349 for S&P, 1,257.0004 for Russell, 85% of initial level
Pricing date:	March 6
Settlement date:	March 11
Agent:	Wells Fargo Securities LLC
Fees:	0.5%
Cusip:	95001HGT2

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